Jersey Oil&gas Regulatory News (JOG)

31 January 2024

Jersey Oil and Gas plc

("Jersey Oil & Gas" or the "Company")

Director's Share Purchases and Issue of Equity

Jersey Oil & Gas (AIM: JOG), an independent upstream oil and gas company focused on the UK Continental Shelf region of the North Sea, announces disclosable share purchases by Anne Thomas, the wife of Les Thomas, the Company's Non-Executive Chairman, and by Non-Executive Director Marcus Stanton.

Director's Share Purchases

The Company was yesterday notified of the following acquisitions of Ordinary Shares on 30 January 2024 by directors of the Company:

*Mr Les Thomas and his wife's combined holding

Issue of Equity and Total Voting Rights

The Company also announces, further to the Company's announcement of 15 December 2023, the issue of a further 1,667 new ordinary shares of 1p each in the capital of the Company ("Ordinary Shares") pursuant to the exercise of certain options under the Company's 2016 Enterprise Management Incentive Unapproved Share Option Plan (the "Additional Option Shares").

Application has been made to the London Stock Exchange for the admission of the Additional Option Shares to trading on AIM ("Admission"). It is expected that Admission will become effective and that dealings in the Additional Option Shares will commence at 8.00 a.m. on 5 February 2024.

Following Admission, the Company's enlarged share capital will comprise 32,667,627 Ordinary Shares in issue with one voting right per Ordinary Share. As the Company does not hold any shares in treasury, shareholders may use this figure as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules. 

Enquiries:

- Ends -

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 currently 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." Licence P2498 contains the Buchan oil field and J2 oil discovery and licence P2170 contains the Verbier oil discovery. Following completion of the farm-out transaction with Serica Energy (UK) Limited, expected in Q1-2024, the Company will retain a 20% interest in each of the GBA licences, and is fully funded to first oil, with a full carry on the expenditure ahead of Buchan project sanction and the budgeted development costs included in the approved Field Development Plan.

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 ("UK MAR").

PDMR Notification Form:

The notification below is made in accordance with the requirements of UK MAR.