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

Gas plant
May 09 2019
“Lixus allows lows us to ally elephant hunting with low-risk product and exploration targets.
oil workers
April 09 2019
Around 31% of its production was oil and it saw an average sales price of US$63.80 per barrel.
A map of Buru tenure in the Kimberley region of Western Australia's northwest
March 22 2019
Buru’s chairman Eric Streitberg will speak at an energy and minerals conference in Brisbane next Wednesday.

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

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