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North Sea a “buyer’s market” right now, says Jersey Oil & Gas boss

Andrew Benitz, chief executive of Jersey Oil & Gas (LON:JOG), says now is a good time to be buying North Sea assets as several oilers look to exit the market.

Born out of Trap Oil, Jersey is searching for multiple late-stage producing fields in the region which are generating cash flow today.

Benitz explains how £25mln of accumulated tax losses from Trap Oil are worth around £12.5mln in actual value to the North Sea producer, as the sum can be used to offset future taxes that would have been paid on producing fields.

 
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