Jadestone Energy extends due date for New Zealand acquisition

Asia-Pacific oil and gas production company Jadestone Energy updated the market on the planned completion of its acquisition of a 69% operated interest in the Maari asset, in shallow water offshore New Zealand.

The AIM-traded firm confirmed that, following discussions with the seller, OMV New Zealand, both companies had agreed to extend the long-stop date under the sale and purchase agreement to 31 August.

“Both OMV New Zealand and the company continue to work to satisfy the remaining outstanding conditions and to complete the transaction,” the board said in its statement.

At 0821 BST, shares in Jadestone Energy were up 0.27% at 73.2p.