Jersey Oil and Gas Awarded Verbier Licence Extension

Source: www.gulfoilandgas.com 11/29/2022, Location: Europe

Jersey Oil & Gas (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 the North Sea Transition Authority ("NSTA") has approved an extension to the Second Term of its P2170 "Verbier" Licence. This licence is now aligned with JOG's P2498 "Buchan" Licence with the current phase expiring end of August 2023, in keeping with the Company's stated strategy of developing the Greater Buchan Area ("GBA") as an area-wide development plan.

Following a recent period of fiscal uncertainty, confirmation of the retention of the investment allowance as part of the recent amendments to the UK's Energy Profits Levy is welcome, as we progress advanced commercial discussions with a select number of counterparties in relation to the Company's GBA farm out process.

Andrew Benitz, CEO of Jersey Oil & Gas, commented:

"We are pleased that the NSTA has agreed to extend the Second Term of the Verbier Licence in order to align it with the rest of our GBA asset base. Although multiple fiscal changes have slowed progress with closing out commercial farm-out discussions, we look forward to a successful conclusion if not by the end of the year then certainly in Q1 2023."


Lebanon >>  1/29/2023 - TotalEnergies and Eni have completed the transfer to QatarEnergy of a 30% interest in exploration Blocks 4 and 9 off the coast of Lebanon.

...

Brazil >>  1/27/2023 - Maha Energy AB is pleased to announce that the Brazilian antitrust authority (CADE) has approved, without restrictions, the sale of Maha Energy Brasil...

Canada >>  1/27/2023 - In the context of its future spin-off, TotalEnergies EP Canada Ltd announces that it has exercised its preemption right to acquire an additional 6.65%...
Brazil >>  1/26/2023 - Petrobras, following up on the releases disclosed on 01/26/2023 and 04/27/2022, informs that it has finalized today, after the fulfillment of all the ...

Brazil >>  1/24/2023 - Petrobras, following up on the release disclosed on 08/29/2022, informs that, observing the applicable internal governance, the closing of the competi...
Canada >>  1/24/2023 - Copenhagen Infrastructure Partners (CIP), on behalf of Copenhagen Infrastructure Fund IV, is pleased to announce that it has sold its 100% ownership i...




Gulf Oil and Gas
Copyright 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.