Jersey Oil Announces GBA Farm-Out Completion

Source: www.gulfoilandgas.com 2/26/2024, Location: Europe

Jersey Oil & Gas plc (AIM: JOG), an independent upstream oil and gas company ?focused on the UK Continental Shelf region of the North Sea, is pleased to announce that, further to the press release issued on 23 November 2023, the Company has now completed its farm-out of a 30% interest in the Greater Buchan Area ("GBA") licences to Serica Energy (UK) Limited ("Serica Energy") and received the associated milestone cash payment of $6.8 million.

The GBA comprises licences P2498 ('Buchan') and P2170 ('Verbier'), with the joint venture partnership now consisting of NEO Energy (50% interest, Operator), Serica Energy (30% interest) and JOG (20% interest).

In aggregate the GBA farm-out transactions provide JOG with up to $38 million in cash payments ($18 million of which has now been received) and a full carry on both pre-sanction costs and capital expenditure in the approved Buchan Field Development Plan.


France >>  4/18/2024 - DIF Capital Partners, a leading global infrastructure fund manager, has entered into exclusive negotiations with TDF and La Banque des Territoires to ...
Singapore >>  4/18/2024 - Leading tanker shipping company Stena Bulk has announced the successful sale of Stena Blue Sky to an undisclosed Asian buyer. The sale of Stena Blu...

Brazil >>  4/17/2024 - Petrobras informs that its Executive Board, at a meeting held today, approved the sale of its entire stake in the Cherne and Bagre fields, located in ...
United Kingdom >>  4/17/2024 - Macquarie Asset Management has agreed for Macquarie Green Energy and Climate Opportunities Fund to acquire a portfolio of six solar, wind, energy stor...

United States >>  4/17/2024 - Sunoco LP (NYSE: SUN) ("SUN" or the "Partnership") today announced the completion of the acquisition of liquid fuels terminals from Zenith Energy and ...
United States >>  4/17/2024 - Custom Truck One Source, Inc. (NYSE: CTOS) proudly announces its acquisition of the business of A&D Maintenance and Repair. Founded in 1986, A&D Maint...




Gulf Oil and Gas
Copyright © 2023 ICT All rights reserved. - Terms of Service - Privacy Policy.