Jersey Oil and Gas Plc

Jersey Oil & Gas Plc (AIM: JOG) is a UK-based exploration and production company focused on the Greater Buchan Area licenses in the UK Central North Sea. The portfolio consists of interests in a number of oil discoveries including the 100MMboe Buchan field, together with additional exploration potential.

The Greater Buchan Area comprises five blocks in the Central North Sea spanning approximately 380km2 in 120 meters water depth. Jersey Oil & Gas holds a 50% operated interest in the licenses, which contain the Buchan, J2, Glenn and Verbier oil discoveries. The reservoirs are located within stacked conventional Upper Jurassic aged sandstones.

Development plans are underway to redevelop the formerly producing Buchan field, which has an estimated gross recoverable resource range between 81MMboe and 269MMboe. The plan involves a Floating Production Storage and Offloading vessel with up to 5 producers, supported by water injection. Targeting first oil in late 2026, the field is forecast to produce at an initial gross rate of approximately 35,000 barrels per day.

With a strengthened balance sheet following a farm-out agreement, Jersey Oil & Gas is funded for its share of costs towards Buchan field development approval. The company retains material upside through both cost recovery and an uncarried equity interest in the Greater Buchan Area licenses.