Jersey Oil & Gas Reports North Sea License Progress,Eyes Oil Assets
February 17 2017 - 5:20AM
Dow Jones News
By Philip Waller
LONDON--Jersey Oil & Gas (JOG.LN) Friday reported progress
in its North Sea licenses and said it is talks with multiple
parties about buying North Sea production assets.
The company's operation partner in the Verbier prospect in the
North Sea, Statoil (U.K.) Ltd. has floated a tender for a drilling
rig and related services as it prepares to drill an exploration
well at the prospect this summer. Jersey Oil & Gas has an 18%
stake in Verbier.
Jersey also said it stands to receive up to $4 million from
Azinor Catalyst Ltd. if the latter finds oil and approves a
development plan for the Partridge prospect on license P.1989,
Blocks 14/11, 12 & 16 later this year.
Regarding its production acquisition strategy, the group said it
continues to be involved in multiple sale processes regarding
several large-scale North Sea divestments announced by industry
participants in recent months.
-Write to Philip Waller at philip.waller@wsj.com
(END) Dow Jones Newswires
February 17, 2017 05:05 ET (10:05 GMT)
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