Jersey Oil & Gas PLC - Jersey-based oil and gas company focused on the North Sea - Says the North Sea Transition Authority has approved an extension to the second term of its P2170 Verbier licence. Says it is now aligned with the P2498 Buchan licence with the current phase expiring at the end of August next year.
Chief Executive Officer Andrew Benitz says: "Although multiple fiscal changes have slowed progress with closing out commercial farm-out discussions, we look forward to a successful conclusion if not by the end of the year then certainly in Q1 2023."
In September, Jersey Oil & Gas had posted no revenue in the six months to June 30, unchanged year-on-year. Pretax loss narrows to GBP1.2 million from GBP1.9 million.
Current stock price: 218.00 pence each, up 5.3% on Tuesday in London
12-month change: up 65%
By Xindi Wei; xindiwei@alliancenews.com
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Jersey Oil & Gas plc (JOG)