Jersey Oil & Gas plc (JOG) said it had a clear pathway to its commercial future following the farm-out of its Greater Buchan Area licences. PREPARATIONS Interim six-month results to 30 June, show the company held approximately £5.6 million cash with no debt. Loss for the period, before and after tax, was approximately £2.9m (2022: […]
Tag: Jersey Oil & Gas plc (JOG)
JOG holds £6.6m after reducing losses for GBA
Jersey Oil & Gas plc (JOG) reduced its losses to leave it holding cash of £6.6 million for its assets in the Greater Buchan Area in the central North Sea. FINANCES Final results for the year ended 31 December 2022 showed JOG’s losses decreased to £3.1m (2021: £4.2m). The development company has yet to generate […]
JOG issues 600,000 share options
Jersey Oil & Gas plc (JOG) has granted options over a total 600,000 ordinary shares of 1p each, at an exercise price of 247.50 pence per ordinary share, to its directors, senior management and employees. EXECUTIVE DIRECTORS Chief executive officer Andrew Benitz received 150,000 options, taking his total options held to 800,000. Chief financial officer […]
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 […]
JOG hopeful of GBA farm-out
Jersey Oil & Gas plc (JOG) said it hoped for a farm-out agreement by the end of 2022 or during Q1 2023 for its assets in the Central North Sea. VERBIER EXTENSION The news comes as the company announced that the North Sea Transition Authority (NSTA) had extended its P2170 ‘Verbier’ licence for a second […]