Jersey Oil and Gas PLC Posting of Circular (8828T)
March 30 2021 - 01:00AM
UK Regulatory
TIDMJOG
RNS Number : 8828T
Jersey Oil and Gas PLC
30 March 2021
30 March 2021
Jersey Oil and Gas plc
("Jersey Oil & Gas", "JOG" or the "Company")
Posting of Circular
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 that it has posted a Circular
to Shareholders in relation to the Fundraising announced on 17
March 2021, which will also be made available on the Company's
website at https://www.jerseyoilandgas.com/ .
With regard to the offer for subscription element of the
Fundraising, Qualifying Participants will also receive an
Application Form enabling them to apply for, in aggregate, up to
1,212,121 new Ordinary Shares at a price of 165 pence per Ordinary
Share to raise up to GBP2 million (gross).
Capitalised terms used in this announcement shall have the same
meanings as the definitions in the Company's announcement of 17
March 2021 and in the Circular.
Offer timetable 2021
Record Date for the Offer 25 March
Publication of the Circular and the 29 March
accompa nying F orm of Pro xy and Application
F orm
Latest time and date for receipt of 10.00 a.m. on 12
completed F orms of Pro xy and receipt April
of electronic p r ox y appointments
via the CRES T s y stem for the General
Meeting
Latest time f o r receipt of completed 10.00 a.m. on 12
Application F orms and pa yment in full April
under the Offer
General Meeting 10.00 a.m. on 14
April
Announcement of result of General Meeting 14 April
and the Offer
Admission and commencement of dealings 8.00 a.m. on 15
in the New Ordinary Shares on AIM April
CREST accounts expected to be credited 8.00 a.m. on 15
for the Placing Shares, Subscription April
Shares and Offer Shares
Latest date for posting of share certi 22 April
cates for the New Ordinary Shares in
certi cated form (if applicable)
Each of the times and dates above refer to London time and are
subject to change by the Company (with the agreement of the Joint
Brokers), in which case details of the new times and dates will be
noti ed to the London Stock Exchange and the Company will make an
appropriate announcement through a Regulatory Information
Service.
Enquiries :
Jersey Oil and Gas Andrew Benitz, C/o Camarco:
plc CEO Tel: 020 3757 4983
Strand Hanson Limited James Harris Tel: 020 7409 3494
Matthew Chandler
James Bellman
Arden Partners plc Paul Shackleton Tel: 020 7614 5900
Ruari McGirr
Akhil Shah
f innCap Ltd Christopher Raggett Tel: 020 7220 0500
Tim Redfern
Camarco Billy Clegg Tel: 020 3757 498
James Crothers
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
(subject to the Oil & Gas Authority's approval of the
acquisition of CIECO V&C UK Limited as announced on 26 November
2020), 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.
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END
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