Jadestone Energy Inc. focused on the Asia Pacific region, is pleased to provide an update on production and hedging for the Montara asset, located offshore Australia (Jadestone 100%). Since the Montara asset came back on stream on January 11, 2019 the asset has performed well, with a period of elevated rates, caused by significant flush production following the asset shutdown. Jadestone anticipates that flush production will continue for a period of time but will decline to an anticipated average daily rate of approximately 10,000 bbls/d in the near-term. This compares to average 2018 Montara production of 7,615 bbls/d (excluding downtime for the recent inspection and maintenance work). The recent shutdown rectified a significant inspection backlog and a number of notices of improvement issued to the current operator, by the offshore regulator. The Company anticipates that as a result of works completed during the shutdown, there will be no major planned shutdowns until at least H2 2020. As previously disclosed, Jadestone has submitted its Montara safety case and environment plan, which are under review by the regulator. Upon acceptance, the regulator will permit the transfer of operatorship to Jadestone.