Proactive Investors - Run By Investors For Investors

Jersey Oil & Gas to receive final settlement from Total

"We are pleased to have reached agreement on this legacy issue," said chief executive Andrew Benitz.
oil and gas operations
Jersey shares were up 5% following the news

Jersey Oil & Gas PLC (LON:JOG) told investors that it has agreed to a full and final settlement payment from Total after a farm-in partnership termination in 2013.

It will receive £750,000 from the French oil giant's UK E&P arm.

READ: Jersey Oil and Gas looks forward to Verbier re-evaluation

The settlement is the result of the termination of a farm-in partnership for licence P2032.

"We are pleased to have reached agreement on this legacy issue regarding the farm-out of our former interest in Licence P2032, which was relinquished in 2015,"  said Andrew Benitz, Jersey O&G's  chief executive.

In afternoon trading, Jersey O&G shares were up 5.2% at 73.11p.

View full JOG profile View Profile

Jersey Oil and Gas PLC Timeline

Related Articles

Cargo ship
June 11 2019
MSAR is a cleaner substitute for heavy fuel oil that is burned to power large cargo ships
Egypt
April 08 2019
The South Disouq project has been pushed back towards the end of 2019
Ukraine oil well
April 30 2019
In Ukraine, the Group’s assets are located near to Poland and Romania

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use