The Buchan Oil Field - A New Beginning

15 October 2020

Jersey Oil and Gas plc

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

The Buchan Oil Field - A New Beginning

Corporate Video and Technical Presentation

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 the availability of a corporate animation video, which illustrates our vision for resuming future production from its 100% owned and operated Buchan oil field in addition to the wider Greater Buchan Area.  This is accompanied by a comprehensive technical presentation detailing the extensive subsurface qualities of Buchan and our development plans.

The Buchan Oil Field - A New Beginning Corporate video is available to view on the Company's website at: https://www.jerseyoilandgas.com/media/videos/

The Buchan Technical Presentation is available to download on the Company's website at: www.jerseyoilandgas.com/investors/presentations/ 

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

"We are very pleased to share our vision for the potential future production of the iconic Buchan oil field, the core part of our development plans for the wider Greater Buchan Area. JOG is planning for a low carbon, sustainable oil development, supporting the required energy transition phase and the UK economy for many years to come." 

Enquiries:

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, which includes operatorship and 100% working interests in blocks that contain the Buchan oil field and J2 and Glenn oil discoveries and an 88% working interest in the blocks that contain the Verbier oil discovery and other exploration prospects.

JOG's acreage is estimated by management to contain more than 140 million barrels of oil equivalent ("boe") of discovered mean recoverable resources net to JOG, in addition to significant exploration upside potential.  JOG is currently progressing the concept select phase of an FDP for the Greater Buchan Area.

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.