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Jersey Oil and Gas’s Verbier appraisal well now anticipated in Q1 2019

The well will be the second of four new North Sea wells for Equinor (formerly Statoil).

oil and gas operations
It aims to upgrade Verbier's current 25-130mln barrels resource

Jersey Oil and Gas PLC (LON:JOG) has been informed that the Verbier appraisal well will now likely be drilled in the first quarter of 2019, rather than in the current quarter.

Verbier is due to be the second well in a four-well drill programme operated by Equinor (formerly known as Statoil).

READ: Jersey Oil & Gas “very excited” as Verbier drilling approaches

It is to be an appraisal follow-up to a successful exploration well from 2017. It aims to de-risk a proposed field development, prove up additional oil resources and narrow the current resource range of 25mln to 130mln barrels.

The estimated mean resource estimate stands at 69mln barrels oil equivalent.

Quick facts: Jersey Oil and Gas PLC

Price: 201 GBX

Market: LSE
Market Cap: £43.88 m

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