Jersey Oil and Gas confirmed it has raised £20mln in share placing
JOG is expecting a new appraisal and exploration programme at Verbier, and it is now funded to cover drilling costs.
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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Jersey Oil & Gas to raise £24mln in anticipation of new Verbier drilling
The funding is being launched so that Jersey can cover the costs of an anticipated appraisal and exploration
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Statoil sees between 25mln and 130mln barrels of oil in the new discovery which was unearthed in the side-track to the previously unsuccessful Verbier exploration well.
Archive
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A glance at some of the day's highlights from the Proactive Investors newswire
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The FTSE 100 index closed 14.98 down at 7,507, above the day’s low of 7,496.14, and well below the opening high of 7,523.65
Archive
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Jersey Oil & Gas ‘in strong position’ to pursue acquisition strategy regardless of upcoming sidetrack result
The sidetrack programme got underway on September 17 and it is expected to run for 25-35 days