Jadestone to receive $17.2m from insurance settlement
Jadestone Energy
32.50p
16:55 09/05/24
1.56%
0.50p
Jadestone Energy announced on Tuesday that it was set to receive $17.2m as a result of an insurance settlement.
FTSE AIM 100
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FTSE AIM All-Share
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16:50 09/05/24
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Oil & Gas Producers
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16:29 09/05/24
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The AIM-traded oil and gas producer said it had entered into an agreement with its panel of insurers.
It said the agreement provided that it would receive $17.2m in cash from the settlement of an insurance claim, in respect of a well workover which took place in 2021.
“It is expected that the funds will be received during the fourth quarter of 2022,” the board of the Asia-Pacific focussed company said in its statement.
At 1515 BST, shares in Jadestone Energy were up 2.01% at 71p.
Reporting by Josh White at Sharecast.com.