Jersey Oil & Gas Shares Fall as Equinor Decides Not to Exercise Option

Data : 08/10/2019 @ 10:57
Fonte : Dow Jones News
Titolo : Jersey Oil And Gas Plc (JOG)
Quotazione : 104.5  0.0 (0.00%) @ 09:00
Quotazione Jersey Oil And Gas Grafico

Jersey Oil & Gas Shares Fall as Equinor Decides Not to Exercise Option

Grafico Azioni Jersey Oil And Gas (LSE:JOG)
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6 Mesi : Da Ago 2019 a Feb 2020

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By Oliver Griffin

 

Shares in Jersey Oil & Gas PLC (JOG.LN) fell on Tuesday after the company said Equinor ASA (EQNR.OS) had decided against exercising an option to take a 50% stake in two of the company's blocks in license P2498.

Shares at 0824 GMT were down 12% at 199 pence.

The energy company said that Equinor, the majority state-owned Norwegian oil-and-gas major, decided not to take the stake in Blocks 20/5a and 21/1a, which are located on the U.K. continental shelf.

Jersey Oil & Gas will therefore remain as 100% license holder and operator of the two blocks. It said it has started the concept appraisal and selection phase activities of the Greater Buchan area development.

The company separately reported that an independent assessment of the JD discovery and the Buchan discoveries located in the North Sea blocks, estimates that they contain a combined a mid-case resource of 94.7 million barrels of oil.

 

Write to Oliver Griffin at oliver.griffin@dowjones.com; @OliGGriffin

 

(END) Dow Jones Newswires

October 08, 2019 04:42 ET (08:42 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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