Upstream oil and gas company Jersey Oil & Gas said an independent report estimated that the company‘s assets in the Greater Buchan Area had oil resources volumes of 94.7m stock tank barrels. The assets included the previously produced Buchan Devonian oil field, the J2 and Buchan Andrew oil discoveries and the Capri prospect. These assets together with the company's 18% share of the Verbier discovery, took the total volume to nearly 100MMstb, and provided a contingent resource valuation of nearly US$1bn, the company said. 'This independent valuation supports the significant value proposition for developing the base case discovered volumes that JOG owns within its core Greater Buchan Area assets,' the company said. At 8:54am: (LON:JOG) Jersey Oil And Gas Plc share price was -29p at 196p
Sign up to our
Subscribe to the latest investing news by entering your email address below
You can opt out at any time.
For five days a week you will get
- The latest company news
- Insight into investment trends
- Round-up of director's buys and sells
- Articles from Shares magazine
Plus more useful investment content and occasional promotional offers.
UK 350 Risers and Fallers
Tweets not available.