Jersey Oil & Gas plc partner in the Buchan Horst project will “materially slow” activities while awaiting new government environmental guidance for oil and gas firms. LICENCE Operator NEO Energy and its owner HitecVision will wait for clarity “around the UK regulatory and fiscal framework so that the full impact can be assessed.” “This will […]
Tag: Jersey Oil & Gas plc (JOG)
JOG to review impact of EPL changes
Jersey Oil & Gas plc said it will carefully consider the impact of the changes to the Energy Profits Levy on its Greater Buchan Area project, northeast of Aberdeen in the Outer Moray Firth IMPLICATIONS On 29 July, the Government announced that the EPL will increase to 38% from 1 November 2024, bringing the headline rate […]
Buchan first oil deferred to 2027
Jersey Oil & Gas plc said that first production from the Buchan field has been deferred to late 2027 due to uncertainty of financial policies following the early General Election in July. FDP Operator NEO Energy is currently working on the field development plan, the completion and approval of which is linked to “fiscal clarity” […]
Serica completes 30% acquisition of GBA licences
Serica Energy plc has completed its 30% non-operated acquisition in the Great Buchan Area licences P2498 and P2170 from Jersey Oil & Gas plc. DEVELOPMENT The GBA contains oil and gas accumulations 150km northeast of Aberdeen, and comprises the largest field Buchan, now renamed Buchan Horst, and Verbier. Project partners are now operator NEO Energy […]
JOG issues shares in directors’ dealings
Jersey Oil & Gas plc (JOG) reported senior management and persons closely associated purchases of ordinary shares in the company. On 30 January, non-executive chairman Les Thomas and his wife bought 10,000 ordinary shares at 180p per ordinary share, taking their holding to 43,000 equal to 0.13% of the enlarged capital of the company. Non-executive […]
JOG receives £233,334 via options exercise
Jersey Oil & Gas plc (JOG) received £233,334 following notice to exercise options to subscribe for a total 111,667 new ordinary shares of 1p each in the capital of the company. The options, scheduled to expire shortly, were exercised by a number of former employees. Following admission, the company’s enlarged share capital will comprise 32,665,960 […]