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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