Jersey Oil & Gas surges to over 6-month high on Buchan farm-out deal

GBA Holdings

23/11/2023 08:48

** Shares of Jersey Oil & Gas Plc  JOG.L  surge as much as
32% to 260p, their highest since May 11
    ** Independent upstream oil and gas company, ‎focused on the
UK Continental Shelf region of the North Sea, agrees to farm-out
a 30% interest in the Greater Buchan Area (GBA) licences to
Serica Energy (UK) Ltd
    ** Jersey says upon completion of the Serica farm-out, JOG
will have a 20% interest in GBA licences and a full carry on
capital expenditure required to bring Buchan field into
production
    ** Stock set to post best day since April 3, if trend holds 

 (Reporting by Aby Jose Koilparambil in Bengaluru)
 ((abyjose.koilparambil@thomsonreuters.com))