Jersey Oil and Gas is focussed on delivering shareholder value and growth through creative deal making and operational success. We are convinced that opportunity exists within the UK North Sea to deliver on this strategy and the team has already demonstrated tangible success.
The Company is focused on its acreage in the P2170 licence in the Outer Moray Firth which shows significant prospectivity. The Verbier oil discovery made in October 2017, discovered as part of a joint venture operated by Statoil which Jersey was carried on during the drilling campaign, will be the subject of an upcoming appraisal program in late Q3/early Q4 2018. This highly exciting appraisal programme aims to prove recoverable resources of up to 130MMboe, with a minimum proven recoverable volume of 25MMboe.
Jersey Oil and Gas also intends to leverage the £25m of tax losses gained by the company through the Reverse Take Over of Trap Oil in August 2015, through the successful acquisition of UK North Sea production assets.
Jersey Oil and Gas is the only London listed entity which has exposure to the Verbier discovery and is committed to seeing the asset through to the production phase in conjunction with its partners Statoil and CIECO.