Second Malaysian Campaign Well Flows at 2,800 bopd

Jadestone Energy PLC

20 July 2026

 

Second Well in Malaysia Campaign Flows at 2,800 bopd

20 July 2026 - Singapore: Jadestone Energy plc (AIM:JSE) (the "Company" and together with its subsidiaries, "Jadestone" or the "Group"), an independent upstream production and development company focused on the Asia-Pacific region, is pleased to announce that the second well in the 2026 Malaysia infill drilling campaign has been successfully drilled and brought online at 2,800 bopd. This follows the positive outcome of the first well in the programme, announced on 24 June 2026, which achieved a peak production rate of ~3,200 bopd.  

The second well in the 2026 campaign, EBA-07ST1, was drilled ~13% below budget with a 930-metre horizontal reservoir section at a total measured depth of 5,473 metres. As an extended reach well, it is the longest drilled to date on the East Belumut field (Jadestone 60% interest), exceeding the length of the first well in the 2026 campaign by 600 metres. Furthermore, with a 4.1 ERD ratio[1] the well set a new Malaysia record in extreme reach drilling, further demonstrating Jadestone's in-house drilling capability.

As previously announced, the encouraging results of the first two wells in the 2026 drilling programme resulted in a decision to drill the third contingent well. Drilling and completion activities on the third well have recently been concluded, with results to be reported in due course.

T. Mitch Little, Chief Executive Officer of Jadestone, commented:

"Following on from the excellent results of the first well in the 2026 East Belumut campaign, the second well has delivered a similarly positive outcome. It sets a new record for extended reach drilling across all basins in Malaysia, a very impressive milestone by our drilling team. In aggregate, the first two wells have increased production from the field by over 150% (an increase of ~6,000 bopd) - further validating our proven capability to unlock reserves, and create value in existing fields, by identifying and executing on opportunities bypassed by previous operators. We look forward to updating the market on the third well in the near future."

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For further information, please contact:

Jadestone Energy plc
Phil Corbett, Head of Investor Relations	[phone] (UK)
	[e-mail]
Stifel Nicolaus Europe Limited (Nomad, Joint Broker)	[phone] (UK)
Callum Stewart
Jason Grossman
Ashton Clanfield
Berenberg (Joint Broker)	[phone] (UK)
Ciaran Walsh
Dan Gee-Summons
Ryan Mahnke
Camarco (Public Relations Advisor)	[phone] (UK)
Billy Clegg	[e-mail]
Georgia Edmonds
Poppy Hawkins

About Jadestone Energy

Jadestone Energy plc is an independent upstream company focused on the Asia-Pacific region. It has a balanced and increasingly diversified portfolio of production and development assets in Australia, Malaysia, Indonesia and Vietnam, all stable jurisdictions with a positive upstream investment climate.

The Company is pursuing a strategy to grow and diversify the Company's production base both organically, through developments such as Nam Du/U Minh in Vietnam and the Puteri Cluster offshore Malaysia, as well as through acquisitions that fit within Jadestone's financial framework and play to the Company's strengths in regional upstream development and operations and managing maturing oil assets. Jadestone delivers value in its acquisition strategy by enhancing returns through operating efficiencies, cost reductions and increased production through further investment.

Jadestone is a responsible operator and well positioned for the energy transition through its increasing gas production, by maximising recovery from existing brownfield developments and through its Net Zero pledge on Scope 1 & 2 GHG emissions from operated assets by 2040. This strategy is aligned with the IEA Net Zero by 2050 scenario, which stresses the necessity of continued investment in existing upstream assets to avoid an energy crisis and meet demand for oil and gas through the energy transition.

Jadestone Energy plc (LEI: 21380076GWJ8XDYKVQ37) is listed on the AIM market of the London Stock Exchange (AIM: JSE).  The Company is headquartered in Singapore.  For further information on the Company please visit www.jadestone-energy.com.

The announcement does not include inside information.

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[1] The extended-reach drilling ("ERD") ratio represents the horizontal distance (unwrapped displacement) of a well from the surface location divided by the vertical depth of the well and measures the reach of a well from a single surface location.

 

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