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.
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.