JOG Jersey Oil And Gas Plc

31 December 2024

Jersey Oil and Gas plc

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

Retirement of Non-Executive Director

Jersey Oil & Gas (AIM: JOG), an independent upstream oil and gas company ‎focused on the UK Continental Shelf region of the North Sea, announces, further to the Company's announcement of 19 September 2024, the retirement of Marcus Stanton as a Non-Executive Director ("NED") and Chairman of the Audit Committee.  Marcus has been with the Company since JOG first listed in 2015, initially serving as the Non-Executive Chairman and latterly as a NED. 

Andrew Benitz, CEO of Jersey Oil & Gas, commented:

"I would like to express my thanks to Marcus and wish him well in all his future endeavours.  Marcus has been an integral part of JOG's Board since the Company listed and has helped us navigate through our early exploration strategy, leading to the discovery of Verbier, through to the amalgamation of licence acreage to build out the Greater Buchan Area and the subsequent double farm outs to NEO Energy and Serica Energy."

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Notes to Editors:

Jersey Oil & Gas (AIM:JOG) is a UK energy company focused on creating shareholder value through the development of oil and gas assets and the execution of accretive transactions. 

The Company has a focused asset portfolio centred on developing homegrown North Sea resources that support the UK's energy requirements as it transitions towards net zero.  JOG holds a 20% 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" ("GBA").  Licence P2498 contains the Buchan Horst ("Buchan") oil field and J2 oil discovery and licence P2170 contains the Verbier oil discovery.

JOG's strategy is focused on unlocking the organic value of its GBA assets, combined with the pursuit of asset acquisitions that bring cash flow, diversity and quality investment opportunities into the portfolio.  The Company's Board and Executive team have a wealth of experience in managing and growing publicly listed energy companies and a strong track-record of value creation in the UK North Sea oil and gas sector.

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.