Lemang PSC, 2,470 sq km in S. Sumatra, Jadestone has agreed to acquire Mandala's operated 90% stake. Licence contains Akatara field where oil production ceased end-'19 and gas production is planned. Gov't has a back-in right for 10% upon gas devt sanction, which, if exercised, would reduce Jadestone's stake to 81%. Remaining partner Hexindo Gemilang Jaya (Eneco sub).
(S. Sumatra),Jadestone has agreed to acquire Mandala's operated 90% stake in Lemang PSC (2470kmÂ²) in S. Sumatra, Licence contains Akatara field where oil production ceased end-'19 and gas production is planned. Gov't has a back-in right for 10% upon gas devt sanction, which, if exercised, would reduce Jadestone's stake to 81%. Remaining partner Hexindo Gemilang Jaya (Eneco sub).