Last checked at 13 Apr 2021 07:00
13 April 2021
Jersey Oil and Gas plc
("Jersey Oil & Gas", "JOG" or the "Company")
Appointment of Independent Non-Executive Director
Jersey 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 the appointment of Les Thomas to the JOG Board as an Independent Non-Executive Director with immediate effect.
Les has over 35 years' experience in the Oil and Gas industry, in various subsurface, engineering, operational and senior management positions. Les was formerly CEO of Ithaca Energy Inc. from 2013 to 2020 and previously served for eight years on the Board of John Wood Group plc, as Chief Executive of its Production Facilities business and the Group Director responsible for HSE. Prior to this, he spent 22 years with Marathon Oil UK Limited in various locations and roles, including four years as European Business Unit Leader.
Les is also an independent director of Repsol Sinopec Resources UK Limited, a joint venture between Repsol and Sinopec with a significant UK North Sea portfolio, as well as serving as a Non-Executive Director of Avingtrans Plc, an AIM quoted engineering and manufacturing business.
Les has a BSc (1st class hons) in Civil Engineering and a Masters degree in Petroleum Engineering, both from Heriot Watt University in Edinburgh.
Marcus Stanton, Chairman of Jersey Oil & Gas, commented:
"We are very pleased to welcome Les to the Company as an Independent Non-Executive Director. Throughout his career to date, he has helped oil companies to develop projects successfully, deploying subsurface, commercial and project management expertise. Most recently, he led Ithaca Energy through a significant growth phase, including the acquisition of Chevron's UK North Sea portfolio. His wealth of experience in the UK North Sea leading upstream and services businesses will be of significant value to JOG as we progress our Greater Buchan Area development project and take the Company through its next phase of growth. We look forward to working closely with Les and benefitting from his highly relevant North Sea industry experience."
Enquiries:
Jersey Oil and Gas plc
| Andrew Benitz, CEO | C/o Camarco: Tel: 020 3757 4983 |
Strand Hanson Limited | James Harris Matthew Chandler James Bellman
| Tel: 020 7409 3494 |
Arden Partners plc | Paul Shackleton Benjamin Cryer
| Tel: 020 7614 5900 |
finnCap Ltd | Christopher Raggett Tim Redfern | Tel: 020 7220 0500 |
Camarco | Billy Clegg James Crothers | Tel: 020 3757 4983 |
Additional information on the Directorate Appointment
The following additional information is provided in accordance with AIM Rule 17 and paragraph (g) of Schedule Two of the AIM Rules for Companies:
Leslie James Thomas (aged 64)
Current directorships/partnerships | Past directorships/partnerships |
Avingtrans plc Heriot Resources Limited POD Supports Limited Repsol Sinopec Resources UK Limited The Scottish Energy Forum | Delek North Sea Limited Ithaca Energy Inc. Ithaca Alpha (N.I.) Limited Ithaca Causeway Limited Ithaca Delta Limited Ithaca Dorset Limited Ithaca Energy (North Sea) plc* Ithaca Energy (UK) Limited Ithaca Energy Developments UK Limited Ithaca Energy Holdings (UK) Limited Ithaca Epsilon Limited Ithaca Exploration Limited Ithaca Gamma Limited Ithaca GSA Limited* Ithaca Minerals (North Sea) Limited Ithaca North Sea Limited Ithaca Oil and Gas Limited Ithaca Petroleum Limited Ithaca Pipeline Limited Ithaca SP UK Limited Ithaca SPL Limited The UK Oil and Gas Industry Association Limited |
Note:
* - UK Companies House records indicate that Mr Thomas remains a board member of Ithaca Energy (North Sea) plc and Ithaca GSA Limited, however he resigned such directorships in August 2020 and, accordingly, steps are being taken to make/update the relevant filings.
There is no further information to be disclosed in relation to Mr Thomas' appointment pursuant to AIM Rule 17 or Schedule Two paragraph (g) of the AIM Rules for Companies.
Notes to Editors:
Jersey Oil & Gas is a UK E&P company focused on building an upstream oil and gas business in the North Sea. The Company holds a significant acreage position within the Central North Sea referred to as the Greater Buchan Area ("GBA"), which includes operatorship and 100% working interests in blocks that contain the Buchan oil field and J2 and Glenn oil discoveries and an 100% working interest in the P2170 Licence Blocks 20/5b & 21/1d, that contain the Verbier oil discovery and other exploration prospects.
JOG's total GBA acreage is estimated by management to contain 190 million barrels of oil equivalent ("mmboe") of discovered P50 recoverable resources net to JOG, in addition to significant exploration upside potential of approximately 220 mmboe of prospective resources in close proximity to the Company's planned Buchan platform. JOG has recently concluded the Concept Select phase of an FDP for the Greater Buchan Area and plans to progress into Front End Engineering and Design (FEED) later this year.
JOG is focused on delivering shareholder value and growth through creative deal-making, operational success and licensing rounds. Its management is convinced that opportunity exists within the UK North Sea to deliver on this strategy and the Company has a solid track-record of tangible success.
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European (Withdrawal) Act 2018.