Jadestone Energy Inc - Asia Pacific-focused oil and gas company - Voluntarily relinquishes and terminates service contract 56, offshore Philippines, alongside operator Total E&P Philippines BV.
Partners will be subject to a payment in respect of unfulfilled work commitments, but Jadestone will also record a one-time impairment charge of USD50.5 million, related to historical capitalised exploration expenses on SC56.
Current stock price: 55.00 pence
Year-to-date change: down 41%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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