If the US miner is found to have mined too close to a large jarrah tree, it would trigger an automatic cancellation of its right to mine much of its lease.
Jadestone Energy owns and operates the Montara and Stag oil projects off the coast of WA and has a stake in the North West Shelf oil fields. The London-listed and Singapore-headquartered company also has interests throughout South East Asia.
NOPSEMA has ordered Jadestone to urgently address corrosion on its aged Montara Venture oil vessel in the Timor Sea, which "may pose significant safety and environmental risks."
Jadestone Energy is now two wells down at its Montara field in the Timor Sea where 75% of its production comes from but says it has the cash to work on both Montara and Stag in 2021.
