Business
31st Supplementary Offshore Licensing Round
31st Supplementary Offshore Licensing Round.
About this update from Jersey Oil & Gas Plc
[{"type":"text","content":"\n \nRNS Number : 9994J Jersey Oil and Gas PLC 23 August 2019 \n\n23 August 2019\n \nJersey Oil and Gas plc\n(\"Jersey Oil & Gas\", \"JOG\" or the \"Company\")\n \n31st Supplementary Offshore Licensing Round\n \nAdditional Award of Block 21/2a containing the Glenn Oil Discovery\n \n \nHighlights:\n· JOG awarded, subject to documentation, 100% working interest and operatorship of an additional block (Block 21/2a) in the Oil & Gas Authority's (\"OGA\") 31st Supplementary Offshore Licensing Round\n· Additional Greater Buchan Area (\"GBA\") acreage in Block 21/2a includes the Glenn oil discovery and adds a further 14 million barrels of oil equivalent (\"mmboe\") discovered mean recoverable resources\n \nAndrew Benitz, CEO of Jersey Oil & Gas, commented:\n\"We are delighted to announce this further licence award within the Greater Buchan Area. This additional acreage completes a 100 per cent. success rate of awards across all of the acreage we applied for in the 31st Supplementary Offshore Licensing Round. The Glenn oil discovery contained therein adds additional discovered resources net to JOG as well as operatorship of another discovered resource in the area of our Buchan-centred development hub plans for the GBA.\"\n \nAdditional Information:\nJersey Oil & Gas (AIM: JOG), an independent upstream oil and gas company focused on the UK Continental Shelf (\"UKCS\") region of the North Sea, is pleased to announce that it has been awarded 100% working interest and operatorship of Block 21/2a in the OGA's 31st Supplementary Offshore Licensing Round. The additional acreage awarded to JOG, subject to documentation, includes the Glenn oil discovery. \nThe licence in respect of Block 21/2a comprises a two-year Initial Term with certain firm work obligations, principally comprising geotechnical studies, with a drill or drop well obligation at the end of the term.\nThe acreage is contiguous with the previously announced 31st Supplementary Offshore Licensing Round awards both in the Greater Buchan Area (\"GBA\") containing the Buchan and J2 discoveries and the Capri, Chamonix, Courchevel and Zermatt prospects and the Licence P2170 (Blocks 20/5b and 21/1d) acreage that contains the Verbier oil discovery, in which JOG holds an 18% working int...