Jersey Oil Settles Dispute With Total, To Received GBP750,000

Tue, 28th May 2019 12:49

LONDON (Alliance News) - Jersey Oil & Gas PLC on Tuesday said it agreed terms with Total E&P UK Ltd in relation to Total's termination of its 2013 farm-in to licence P2032.

By way of a full and final settlement, Jersey Oil will receive GBP750,000 from Total, the company said.

"We are pleased to have reached agreement on this legacy issue regarding the farm-out of our former interest in Licence P2032, which was relinquished in 2015," Chief Executive Officer Andrew Benitz said.

Jersey Oil shares were trading up 5.3% at 73.15 pence each.

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