Last checked at 14 Sep 2023 07:02
14 September 2023
Jersey Oil and Gas plc
("Jersey Oil & Gas", "JOG" or the "Company")
Change of Auditor
Jersey Oil & Gas (AIM: JOG), an independent upstream oil and gas company focused on the UK Continental Shelf region of the North Sea, announces that following a competitive tender process the Board of Directors has approved the appointment of BDO LLP ("BDO") as the Company's auditor for the financial year ending 31 December 2023.
BDO's appointment as auditor for the subsequent financial year will be formally proposed to shareholders at the Company's Annual General Meeting to be held in 2024.
Following completion of the tender process, PricewaterhouseCoopers LLP ("PwC") formally resigned as auditor with effect from 6 September 2023 and has confirmed to the Company that there are no matters connected with its ceasing to hold office that need to be brought to the attention of the members or creditors of the Company for the purposes of section 519 of the Companies Act 2006. PwC had served as JOG's auditor since 2011.
Enquiries:
Jersey Oil and Gas plc
| Andrew Benitz | C/o Camarco: 020 3757 4980 |
Strand Hanson Limited
| James Harris Matthew Chandler James Bellman
| Tel: 020 7409 3494 |
Zeus Capital Limited | Simon Johnson | Tel: 020 3829 5000
|
Cavendish Capital Markets Limited
| Christopher Raggett Tim Redfern
| Tel: 020 7220 0500 |
Camarco
| Billy Clegg Rebecca Waterworth
| Tel: 020 3757 4980 |
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Notes to Editors:
Jersey Oil & Gas ("JOG") is a UK E&P company focused on building an upstream oil and gas business in the North Sea. The Company holds a 50% interest in each of licences P2498 (Blocks 20/5a, 20/5e and 21/1a) and P2170 (Blocks 20/5b and 21/1d) located in the UK Central North Sea and referred to as the "Greater Buchan Area" ("GBA"). Licence P2498 contains the Buchan oil field and J2 oil discovery and licence P2170 contains the Verbier oil discovery.
The GBA licences are operated by NEO Energy ("NEO"), with the company holding a 50% working interest. NEO is a major UK North Sea operator producing approximately 90,000 barrels of oil equivalent per day and is backed by HitecVision, a leading private equity investor focused on Europe's offshore energy industry with US$8 billion of assets under management
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.
Forward-Looking Statements
This announcement may contain certain forward-looking statements that are subject to the usual risk factors and uncertainties associated with an oil and gas business. Whilst the Company believes the expectations reflected herein to be reasonable in light of the information available to it at this time, the actual outcome may be materially different owing to factors beyond the Company's control or otherwise within the Company's control but where, for example, the Company decides on a change of plan or strategy.
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 Union (Withdrawal) Act 2018, as amended by virtue of the Market Abuse (Amendment) (EU Exit) Regulations 2019.