REG - Jersey Oil & Gas PLC - Change of Auditor

Jersey Oil and GasAnnouncement

14/09/2023 07:15

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RNS Number : 3756M  Jersey Oil and Gas PLC  14 September 2023

14 September 2023

Jersey Oil and Gas plc

("Jersey Oil & Gas", "JOG" or the "Company")

 

Change of Auditor

 

Jersey Oil & Gas (AIM: JOG), an independent upstream oil and gas company
‎focused on the UK Continental Shelf region of the North Sea, announces that
following a competitive tender process the Board of Directors has approved the
appointment of BDO LLP ("BDO") as the Company's auditor for the financial year
ending 31 December 2023.

 

BDO's appointment as auditor for the subsequent financial year will be
formally proposed to shareholders at the Company's Annual General Meeting to
be held in 2024.

 

Following completion of the tender process, PricewaterhouseCoopers LLP ("PwC")
formally resigned as auditor with effect from 6 September 2023 and has
confirmed to the Company that there are no matters connected with its ceasing
to hold office that need to be brought to the attention of the members or
creditors of the Company for the purposes of section 519 of the Companies Act
2006.  PwC had served as JOG's auditor since 2011.

 

 

Enquiries:

 Jersey Oil and Gas plc             Andrew Benitz        C/o Camarco: 020 3757 4980

 Strand Hanson Limited              James Harris         Tel: 020 7409 3494

                                    Matthew Chandler

                                    James Bellman

 Zeus Capital Limited               Simon Johnson        Tel: 020 3829 5000

 Cavendish Capital Markets Limited  Christopher Raggett  Tel: 020 7220 0500

                                    Tim Redfern

 Camarco                            Billy Clegg          Tel: 020 3757 4980

                                    Rebecca Waterworth

- Ends -

 

Notes to Editors:

 

Jersey Oil & Gas ("JOG") is a UK E&P company focused on building an
upstream oil and gas business in the North Sea. The Company holds a 50%
interest in each of licences P2498 (Blocks 20/5a, 20/5e and 21/1a) and P2170
(Blocks 20/5b and 21/1d) located in the UK Central North Sea and referred to
as the "Greater Buchan Area" ("GBA").  Licence P2498 contains the Buchan oil
field and J2 oil discovery and licence P2170 contains the Verbier oil
discovery.

 

The GBA licences are operated by NEO Energy ("NEO"), with the company holding
a 50% working interest.  NEO is a major UK North Sea operator producing
approximately 90,000 barrels of oil equivalent per day and is backed by
HitecVision, a leading private equity investor focused on Europe's offshore
energy industry with US$8 billion of assets under management

 

JOG is focused on delivering shareholder value and growth through creative
deal-making, operational success and licensing rounds. Its management is
convinced that opportunity exists within the UK North Sea to deliver on this
strategy and the Company has a solid track-record of tangible success.

 

Forward-Looking Statements

 

This announcement may contain certain forward-looking statements that are
subject to the usual risk factors and uncertainties associated with an oil and
gas business.  Whilst the Company believes the expectations reflected herein
to be reasonable in light of the information available to it at this time, the
actual outcome may be materially different owing to factors beyond the
Company's control or otherwise within the Company's control but where, for
example, the Company decides on a change of plan or strategy.

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of
the European Union (Withdrawal) Act 2018, as amended by virtue of the Market
Abuse (Amendment) (EU Exit) Regulations 2019.

 

 

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