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 […]
Tag: Outer Moray Firth
Parkmead awarded 50% Fynn Beauly
The Parkmead Group plc has been formally awarded 50% of the Fynn Beauly heavy oil discovery, estimated to hold oil-in-place of 740 million to 1.33 billion barrels, in the Outer Moray Firth. UNCERTAINTIES The operator will share licence P2634, comprising blocks 14/15a, 14/20d and 15/11a, with Orcadian Energy plc who holds a 50% interest. An […]
JOG agrees 30% GBA farm-out with Serica
Jersey Oil & Gas plc has agreed to farm out a 30% non-operated interest in the Greater Buchan Area (GBA) licences to Serica Energy (UK) Ltd. PARTNERS The GBA contains several oil and gas accumulations, 150km northeast of Aberdeen, of which the largest is the Buchan field. Buchan prouced for 30 years before operations stopped […]
United extends sale date for Maria discovery
United Oil & Gas plc has extended the long stop date over the conditional sale of its licence P2519 containing the Maria oil discovery in the Central North Sea. SALES AGREEMENTS In January 2023, the company signed the £5.7 million asset purchase agreement (ASA), dependent on financing, with Quattro Energy Ltd for conditions to be […]
i3 Energy spuds Serenity appraisal well
i3 Energy plc has spud the Serenity appraisal well on licence P.2358, block 13/23c in the Outer Moray Firth. SCHEDULE The operator owns a 75% working interest in the field and Europa Oil & Gas (Holdings) plc owns 25%. i3 expects that drilling programme will last some 30 days after which it will plug and […]
JOG raises £15m via placing and subscription
Jersey Oil & Gas plc announced it had raised £15 million from an oversubscribed placing by way of an accelerated bookbuild. DIRECTOR DEALINGS The funds were raised through the placing of 9,054,548 new ordinary shares (placing shares) and a subscription for 36,361 new ordinary shares (subscription shares) at an issue price of 165 pence per share. Director Role […]