Jadestone Energy plc (the “Company”), an independent oil and gas production company focused on the Asia Pacific region, provides an update on the planned completion of the acquisition of the 69% operated interest in the Maari asset, shallow water offshore New Zealand.

Further to the Company’s announcement on 31 August 2021, and following discussions with the seller OMV New Zealand (OMV NZ), both Jadestone and OMV NZ have agreed to extend the long stop date under the Maari sale and purchase agreement to 31 December 2021.

Both OMV NZ and the Company continue to work to satisfy the remaining outstanding conditions and to complete the transaction. However, and as previously disclosed, there is ongoing uncertainty in the timing of New Zealand Government approval. As a result, further updates on the Maari acquisition will only be made in the event that the transaction completes, or there is a material change in the status of the transaction.

KeyFacts Energy: Jadestone Energy New Zealand country profile