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Jadestone Energy CEO believes Montara is best asset he has seen in 25 years

Paul Blakeley, chief executive of Jadestone Energy Inc (LON:JSE) believes its Montara asset off the coast of Australia is one of the best opportunities he has seen in 25 years.

Jadestone specialises in extending the life of mature fields and there are big plans for Montara, which ticks all the boxes for the company, he says.

It's a very exciting time for the business, he adds.

A first well in six years at another mature oilfield Stag, also offshore Australia, is planned this year, while a new gas development should soon get underway in Vietnam.

Blakeley also believes that the Asia-Pacific region is becoming a mature province similar to the North Sea, with the major oil groups looking to divest what for them are marginal assets.

For Jadestone, these offer a huge opportunity says Blakeley.

 

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