Jersey Oil & Gas plc (JOG) has received regulatory approval for an 18-month extension until 28 February 2025 to the second term of its P2498 Buchan licence in the central North Sea. FARM-OUT The North Sea Transition Authority (NSTA) also granted permission for the company to assign a 50% working interest in the licence and […]
Tag: farm-out
Reabold CPR bolsters farm-out plans for licences
Reabold Resources plc said its aim to farm-out its North Sea assets has been bolstered by a new competent person’s report (CPR). POTENTIAL RPS Group’s report covers licences P2464, P2504 and P2605, in which Reabold has a 100% working interest, and licence P2478 containing the Dunrobin complex (36%). Reabold acquired the licences in May 2022 […]
JOG agrees 50% farm-out with NEO for Greater Buchan
Jersey Oil & Gas plc (JOG) has agreed a 50% farm-out with NEO Energy for the Greater Buchan area (GBA) licences in the North Sea. TRANSACTION TERMS The GBA comprises P2498 and P2170 licences, which contain the Buchan oil field, the J2 and Verbier oil discoveries and a number of exploration prospects. JOG said that […]
JOG in farm-out talks with ‘industry heavyweight’
Jersey Oil and Gas plc (JOG) said it was in advanced exclusive discussions with a “significant UK North Sea operator” for the farm-out of the Greater Buchanan Area (GBA) in the central North Sea. LICENCES JOG owns operatorship and 100% working interests in blocks that contain the Buchan oil field and J2 oil discovery. It […]
Block completes farm-out for part XIB
Block Energy plc has completed the farm-out to Georgia Oil and Gas Ltd (GOG) of part of licence XIB in Georgia. RESOURCE The transaction, announced in December 2022, results in the company now holding a 50% interest in the new Didi Lilo and South Samgori areas of XIB. Block said that GOG had completed the seismic activities agreed under […]
Block agrees farm-out for licence XIB
Block Energy plc has signed a farm-out agreement with Georgia Oil and Gas Ltd (GOGL) for 50% of its XIB licence in Georgia. LICENCE XIB The licence covers a total 614 km2 and includes the Patardzeuli, Samgori, Teleti and Rustavi fields which Block said had produced more than 180 MMbbl of oil. The company added that the portions of […]