Jadestone Energy today announced that the Company has completed its acquisition of the Peninsular Malaysia assets of SapuraOMV Upstream Sdn Bhd. Inclusive of agreed adjustments, the Company’s net consideration comprised a net cash receipt of approximately US$9.2 million.
The Assets add immediate cash flow from around 6,000 barrels of oil equivalent per day of low operating cost production, on a net working interest basis, of which over 90% is oil. Adding the Assets to the Jadestone portfolio will increase the Group’s 2P reserves by 34%, adding 12.5 million barrels oil equivalent of net working interest 2P reserves, based on Jadestone’s best estimate 2P reserves production profile.
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