24 Jul 2019
Jersey Oil & Gas - Licence award delivers major core area
This content is only available within our institutional offering.
Sign in
This content is only available to commercial clients. Sign in if you have access or contact support@research-tree.com to set up a commercial account
This content is only available to commercial clients. Sign in if you have access or contact support@research-tree.com to set up a commercial account
Jersey Oil & Gas - Licence award delivers major core area
Jersey Oil & Gas PLC (JOG:LON) | 154 0.8 0.3% | Mkt Cap: 50.5m
- Published:
24 Jul 2019 -
Author:
Jonathan Wright -
Pages:
10
Exciting news for JOG after the culmination of two years’ work results in the award of 100% interests and operatorship of three blocks in the UK’s 31st Supplementary Offshore Licensing Round. This acreage is complementary to its existing UKCS position and results in a material uplift to discovered and prospective resources. Our preliminary analysis of the Buchan redevelopment opportunity on this acreage results in our risked-NAV and price target rising from 111p to 310p/sh. We also raise our rating from Hold to Buy.