Business
Drilling of the Verbier Appraisal Well
Drilling of the Verbier Appraisal Well.
About this update from Jersey Oil & Gas Plc
[{"type":"text","content":"\n \nRNS Number : 6759R Jersey Oil and Gas PLC 04 March 2019 \n\n04 March 2019\n \nJersey Oil and Gas plc\n(\"Jersey Oil & Gas\", \"JOG\" or the \"Company\")\n \nCommencement of drilling of the Verbier Appraisal Well\n \n \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 drilling operations have commenced on well 20/05b-14 on UK Seaward Licence P2170, Blocks 20/5b & 21/1d (the \"P2170 Licence\") using the semi-submersible rig West Phoenix. Expected total Capex for 2019 remains within the Company's previous guidance.\n \nInitial operator estimates of gross recoverable resources associated with the Verbier discovery are between 25 and 130 million barrels of oil equivalent (\"mmboe\") with an estimated mean of 69mmboe. The purpose of the planned appraisal well programme is to refine the potential volume range in the discovery.\n \nThe co-venturers in the P2170 Licence and their respective interests are: Equinor UK Limited 70%, JOG 18% and CIECO V&C (UK) Limited 12%.\n \nAndrew Benitz, CEO of Jersey Oil & Gas, commented:\n\"Further to the Verbier oil discovery announced in October 2017, we are delighted to announce that drilling operations to appraise Verbier have now commenced and look forward to participating in a safe and successful well programme, with well results expected by mid Q2 2019.\"\n \nEnquiries:\n\n\n\nJersey Oil and Gas plc\n \n\n\nAndrew Benitz, CEO \n\n\nC/o Camarco: \nTel: 020 3757 4983\n\n\n\n\nStrand Hanson Limited\n\n\nJames Harris\nMatthew Chandler\nJames Bellman\n\n\nTel: 020 7409 3494\n\n\n\n\nArden Partners plc\n\n\nPaul Shackleton\nBenjamin Cryer\n\n\nTel: 020 7614 5900\n\n\n\n\nBMO Capital Markets Limited\n\n\nJeremy Low\nTom Rider\n\n\nTel: 020 7236 1010\n\n\n\n\nCamarco\n\n\nBilly Clegg\nGeorgia Edmonds \nJames Crothers\n\n\nTel: 020 3757 4983\n\n\n\n \n \nNotes to Editors:\n \nJersey Oil & Gas is a UK E&P company focused on building an upstream oil and gas business in the North Sea. The Company owns an 18% interest in the P2170 licence, Blocks 20/5b & 21/1d, Outer Moray Firth, in which the operator, Equinor UK Limited, owns a 70% interest and CIECO V&C (UK) L...