Jersey Oil & Gas confident of getting North Sea acquisition targets
JOG says it is involved in nine active asset sales processes, relating to interests in a total of 25 fields, and is confident of closing in on a number of North Sea acquisitions.
Company
Jersey Oil and Gas PLC
LON:JOG
Jersey Oil and Gas PLC is a UK E&P company focused on building an upstream oil and gas business in the North Sea. The company holds a 50% interest in each of licences P2498 and P2170 in the UK Central North Sea referred to as the "Greater Buchan Area". Licence P2498 contains the Buchan oil field and J2 oil discovery and licence P2170 contains the Verbier oil discovery.
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The deal with Azinor Catalyst removes work obligations and, potentially, provides cash returns in the future.
Jersey Oil & Gas confident of securing North Sea assets
Jersey said has put forward several bids on a variety of different assets, and it believes it is now an opportune time to be acquire assets.