JERSEY OIL AND GAS PLC

Report Publication Announcement • Mar 30, 2021

National Storage Mechanism | Additional information

RNS Number : 8828T

Jersey Oil and Gas PLC

30 March 2021

30 March 2021

Jersey Oil and Gas plc

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

Posting of Circular

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 that it has posted a Circular to Shareholders in relation to the Fundraising announced on 17 March 2021, which will also be made available on the Company's website at https://www.jerseyoilandgas.com/.

With regard to the offer for subscription element of the Fundraising, Qualifying Participants will also receive an Application Form enabling them to apply for, in aggregate, up to 1,212,121 new Ordinary Shares at a price of 165 pence per Ordinary Share to raise up to £2 million (gross).

Capitalised terms used in this announcement shall have the same meanings as the definitions in the Company's announcement of 17 March 2021 and in the Circular.

Offer timetable	2021
Record Date for the Offer	25 March
Publication of the Circular and the accompanying Form of Proxy and Application Form	29 March
Latest time and date for receipt of completed Forms of Proxy and receipt of electronic proxy appointments via the CREST system for the General Meeting	10.00 a.m. on 12 April
Latest time for receipt of completed Application Forms and payment in full under the Offer	10.00 a.m. on 12 April
General Meeting	10.00 a.m. on 14 April
Announcement of result of General Meeting and the Offer	14 April
Admission and commencement of dealings in the New Ordinary Shares on AIM	8.00 a.m. on 15 April
CREST accounts expected to be credited for the Placing Shares, Subscription Shares and Offer Shares	8.00 a.m. on 15 April
Latest date for posting of share certificates for the New Ordinary Shares in certificated form (if applicable)	22 April

Each of the times and dates above refer to London time and are subject to change by the Company (with the agreement of the Joint Brokers), in which case details of the new times and dates will be notified to the London Stock Exchange and the Company will make an appropriate announcement through a Regulatory Information Service.

Enquiries:

Jersey Oil and Gas plc	Andrew Benitz, CEO	C/o Camarco: Tel: 020 3757 4983
Strand Hanson Limited	James Harris Matthew Chandler James Bellman	Tel: 020 7409 3494
Arden Partners plc	Paul Shackleton Ruari McGirr Akhil Shah	Tel: 020 7614 5900
finnCap Ltd	Christopher Raggett Tim Redfern	Tel: 020 7220 0500
Camarco	Billy Clegg James Crothers	Tel: 020 3757 498

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 ("GBA"), which includes operatorship and 100% working interests in blocks that contain the Buchan oil field and J2 and Glenn oil discoveries and an 100% working interest in the P2170 Licence Blocks 20/5b & 21/1d (subject to the Oil & Gas Authority's approval of the acquisition of CIECO V&C UK Limited as announced on 26 November 2020), that contain the Verbier oil discovery and other exploration prospects.

JOG's total GBA acreage is estimated by management to contain 190 million barrels of oil equivalent ("mmboe") of discovered P50 recoverable resources net to JOG, in addition to significant exploration upside potential of approximately 220 mmboe of prospective resources in close proximity to the Company's planned Buchan platform.  JOG has recently concluded the Concept Select phase of an FDP for the Greater Buchan Area and plans to progress into Front End Engineering and Design (FEED) later this year.

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 as it forms part of United Kingdom domestic law by virtue of the European (Withdrawal) Act 2018.

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