Proactive Investors
Andrew Benitz, chief executive of Jersey Oil & Gas (LON:JOG), says now is a good time to be buying North Sea assets as several oilers look to exit the market. Born out of Trap Oil, Jersey is searching for multiple late-stage producing fields in the region which are generating cash flow today. Benitz explains how £25mln of accumulated tax losses from Trap Oil are worth around £12.5mln in actual value to the North Sea producer, as the sum can be used to offset future taxes that would have been paid on producing fields.
