18:00 Wed 09 Dec 2015
Jersey Oil & Gas PLC - Corporate Update
09
("
Corporate Update
Working capital position
Further to the successful completion of the acquisition of
At a corporate level, the Board is utilising the Group's existing resources prudently, minimising costs and identifying efficiencies. Accordingly, the Board is now confident that the Group's current cash reserves are sufficient to fund the Group's anticipated working capital requirements into the second half of 2016.
Potential asset Acquisitions
The management team has been actively seeking to progress the Group's business strategy, as announced at the time of the Acquisition, namely to acquire
"As our shareholders would expect, we have continued to identify cost savings and carefully control expenditure whilst working hard to achieve our stated strategic objectives. We are confident of securing suitably attractive producing assets in the UKNS and it is the Board's view that conditions currently are favourable for us to beneficially acquire producing assets within the
- Ends -
Enquiries:
|
|
C/o Camarco: Tel: 020 3757 4983
|
|
|
Tel: 020 7409 3494 |
|
|
Tel: 020 7448 0200
|
Camarco |
|
Tel: 020 3757 4983
|
Notes to editors:
The Group's strategy is focused on maintaining, developing and exploiting a portfolio of
The Group's target acquisition profile includes mature oil and/or gas production assets with long tail-end production profiles and upside potential, from principally satellite fields with production-based tariff agreements, limited exposure to host platform costs, low capex and opex costs and manageable decommissioning liabilities.
This information is provided by RNS
The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of...
FOR OUR FULL DISCLAIMER CLICK HERE