Page 17 - AsianOil Week 50 2020

AsianOil NEWS IN BRIEF AsianOil

international oil and gas company for the approval of the assignment of the interest and of Ampol Limited notes the announcement
transfer of its entire 100% working interest Jadestone’s appointment as operator, and other yesterday from the Federal Government
in the Block 115/09 production sharing consents required under the Lemang PSC joint regarding an interim one cent per litre
contract, offshore Vietnam for a nominal cash operating agreement. production payment for Australian refineries
consideration. Jadestone, as buyer, and Mandala Energy which will be implemented for six months
Further to the Announcements, the Lemang Pte Ltd, will now proceed to close commencing 1 January 2021.
Company wishes to announce that while parties the transaction, which will become effective Managing Director and CEO, Matthew
are actively working towards the fulfilment upon the Seller confirming receipt of the Halliday, said: “Ampol appreciates the Federal
of conditions precedents under the farm-out US$12 million purchase consideration. This is Government’s support through COVID-19
agreement, the Transferor and the Transferee anticipated to occur within the coming days. and willingness to work with domestic refiners
have mutually agreed in writing to extend the Paul Blakeley, President and CEO commented: on the current challenges faced. Yesterday’s
long stop date to 31 March 2021, or such later “I am delighted to complete our acquisition announcement acknowledges the acute issues
date as may be agreed in writing between parties. of the Lemang PSC, and to re-establish our facing the refining sector and provides an
Shareholders, noteholders and potential operating presence in Indonesia. The asset opportunity to get long-term settings right.”
investors of the Company should exercise adds balance and diversity to our portfolio and As previously announced, Ampol is currently
caution when dealing in the Company’s creates an opportunity to develop high-value undertaking a comprehensive review of the
securities. Stakeholders and potential investors gas for an energy-hungry region; a region Lytton refinery to determine the best operating
who are in doubt as to the action they should which is otherwise increasingly dependent on model over the medium-term. The review
take should consult their stockbrokers, bank coal to meet its growing energy needs. “We will is considering all options for the facility’s
managers, solicitors, accountants or other maintain a measured pace toward development operations and for the connected supply chains
professional advisors. spending, but look forward to resuming and markets it serves and will be completed in
KRISENERGY, December 16, 2020 investment into a jurisdiction and basin we the first half of 2021.
know well, through our team’s prior involvement Ampol will defer a decision on receipt
Closing of the Lemang PSC in the South Sumatra region.” of the production payment until it becomes
clear that Ampol can meet the terms of the
JADESTONE ENERGY, December 11, 2020
Acquisition production payment, which is likely to be
when a final decision is made on the future
Jadestone Energy Inc., an independent oil and OCEANIA of the Lytton refinery. Ampol will continue to
gas production company focused on the Asia engage constructively with the government and
Pacific region, is pleased to announce that all Federal government yesterday’s policy announcement will be one
conditions required to complete its proposed of many considerations incorporated into the
acquisition of an operated 90% interest in the refining production subsidy ongoing refinery review process.
Lemang production sharing contract, onshore AMPOL, December 15, 2020
Indonesia, are now satisfied. announcement
This includes receipt of governmental

Week 50 17•December•2020 www. NEWSBASE .com P17