IN BRIEF: Jersey Oil & Gas surges over potential North Sea deal

Jersey Oil & Gas PLC - Jersey-based oil and gas company focused on the North Sea - Updates on the ...

Alliance News 31 March, 2023 | 12:20PM
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Jersey Oil & Gas PLC - Jersey-based oil and gas company focused on the North Sea - Updates on the Greater Buchan Area farm-out process, revealing it is in "advanced" exclusive discussions with an unnamed "significant" UK North Sea operator. Says head of terms have been agreed for the farm-out of a material interest in the GBA licenses to the operator, and the parties are working towards a finalised fully-termed agreement "in the near future". They have agreed to an exclusivity period until the end of April.

"We are pleased to be in advanced exclusive negotiations with a well-funded industry heavyweight and whilst there can be no guarantees of a successful conclusion, we are aiming to finalise the farm-out in the near future and look forward to updating shareholders shortly," says Chief Executive Officer Andrew Benitz.

Current stock price: 236.90 pence each, up 55% on Friday in London

12-month change: up 36%

By Sophie Rose, Alliance News reporter

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Jersey Oil and Gas PLC 157.00 GBX 3.97 -

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