Last checked at 6 May 2020 07:00
6 May 2020
Jersey Oil and Gas plc
("Jersey Oil & Gas", "JOG" or the "Company")
Posting of 2019 Annual Report and Financial Statements
and Notice of Annual General Meeting
Jersey Oil & Gas (AIM: JOG), an independent upstream oil and gas company focused on the UK Continental Shelf ("UKCS") region of the North Sea, announces that, further to the release of its Final Results for the year ended 31 December 2019, its full 2019 Annual Report and Financial Statements together with the Notice of Annual General Meeting ("AGM") and associated Form of Proxy are now available on the Company's website (www.jerseyoilandgas.com) and have today been posted to those shareholders who have elected to receive hardcopy shareholder communications from the Company.
The Company also announces that its AGM in respect of its financial year ended 31 December 2019 will be held on Wednesday, 3 June 2020 at 10.00 a.m. at 513 Harrington Place, Heathside Crescent, Woking GU22 7BL. In light of the Coronavirus (COVID-19) pandemic and the UK Government's measures to restrict travel and public gatherings currently in force, including a prohibition on public gatherings of more than two people, it will not be possible to hold the AGM in its usual format and the AGM this year will consequently be run as a closed meeting. Regrettably therefore, it will not be possible for shareholders to attend the AGM and the Company will be unable to allow entry to anyone seeking to attend the AGM in person.
Shareholders are therefore strongly encouraged to vote by proxy. The Company will convene the AGM with the minimum necessary quorum of two shareholders (which the Company will facilitate) and will include all valid proxy votes in its polls at the AGM. The format of the meeting will be purely functional and will comprise only the formal voting on the resolutions tabled.
Following the conclusion of the AGM, the Company will provide a pre-recorded audio corporate presentation, together with an incorporated Q&A section that will address a selection of questions received from shareholders. This will be uploaded to the Company's website. Shareholders are encouraged to submit any questions to the Company to be included in the presentation by Thursday, 28 May 2020 via email to the following address: agmquestions@jerseyoilandgas.com.
The current situation is evolving and the Government may change current restrictions or implement further measures relating to the holding of general meetings during the affected period. The Company will make any further announcement(s) that may be required by way of a Regulatory Information Service and on the Company's website.
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 |
BMO Capital Markets Limited | Jeremy Low Tom Rider | Tel: 020 7236 1010 |
Camarco | Billy Clegg James Crothers | Tel: 020 3757 4983 |
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, which includes operatorship and 100% working interests in blocks that contain the Buchan oil field and J2 and Glenn oil discoveries, and, following the acquisition of an additional 70% working interest announced in late January 2020 will, subject to completion, also assume operatorship of and hold an 88% working interest in the P2170 Licence, Blocks 20/5b & 21/1d, that contains the Verbier oil discovery.
JOG's acreage is estimated by management to contain more than 140 million barrels of oil equivalent ("boe") of discovered mean recoverable resources net to JOG, in addition to significant exploration upside potential. JOG is currently progressing the concept select phase of a Field Development Plan ("FDP") for the Greater Buchan Area.
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.