RCMA Australia Pty Ltd: Purchase of 100% Interest in Jingemia L14 Production Licence

RCMA Australia Pty Ltd: Purchase of 100% Interest in Jingemia L14 Production Licence
Perth Basin, Western Australia

The board of directors of RCMA Australia Pty Ltd (“RCMA”) is pleased to announce that RCMA has, on 9 January 2020, become the holder of 100% of the interest of the L14 production licence over the Jingemia field in the northern onshore Perth Basin (the “Field”) (“L14 Licence”).

In August 2019, RCMA signed a sale and purchase agreement with JV partner Norwest Energy NL (“Norwest”) for the purchase of Norwest’s 6.278% interest in the L14 Licence. The transaction was completed and final regulatory approval was obtained on 9 January 2020.

RCMA Australia took operatorship of the Jingemia field on 10 May 2018 and the Field achieved first oil again on 17 December 2017 after 5 years of care and maintenance. The Field produces excellent quality light oil from a Dongara sandstone reservoir, and a sales contract is in place with BP’s Kwinana refinery. The Jingemia production facilities have capacity to produce and process oil from the L14 Licence area and from surrounding licence areas and producers.

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Media Contact

For more information please contact

Christopher Newport

RCMA Australia Pty Ltd

Contact No        : +61 467 456043
Email                 : chris.newport@rcma.com

David Maher

Jade Energy Holdings Pte Ltd
Email      : david@jade-holdings.com

About Jade Energy Holdings and RCMA Australia Pty Ltd

Jade Energy Holdings Pte Ltd (“Jade”) is the 100 percent shareholder of RCMA Australia Pty Ltd. Jade leverages market expertise and industry knowledge to develop and invest in energy related initiatives across the entire value chain. www.jade–holdings.com

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