Path to Commercial Gas Production

Investment risks (cont...) Operational risk Prospective resources risk Oil and gas prices risk • Adverse weather events, unforeseen increases in establishment costs, mechanical failures, human errors, industrial disputes or encountering unusual or unexpected geological formations and other unforeseen events, could lead to increased costs or delay to the Company's activities and exploration programs, or restrictions on its ability to carry out its present exploration programs. The Company will mitigate this risk by, amongst other things, taking out appropriate insurance in line with industry practice. Estimating hydrocarbon reserves and resources is subject to significant uncertainties associated with technical data and the interpretation of that data, future commodity prices, and development and operating costs. There can be no guarantee that Jade will successfully produce the volume of hydrocarbons that is estimated as its Prospective Resources or that hydrocarbon resources will be successfully converted to reserves. Estimates may alter significantly or become more uncertain when new information becomes available due to for example, additional drilling or production tests over the life of field. As estimates change, development and production plans may also vary. Downward revision of Prospective Resource estimates may adversely affect Jade's financial outlook. The price at which Jade can sells any future gas will have a material influence on the future financial performance of the Company. It is impossible to predict future commodity prices with confidence and the factors which impact it include, but are not limited to, global political situations, military conflicts, technological changes, output controls and global energy consumption which are all outside the control of Jade. A material and extended fall in realised gas prices for Jade may have an adverse impact on the Company's future financial performance, including potentially a reduction in the quantity of potential reserves. 22 22

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