Jersey Oil & Gas: CEO Interview

In today’s CEO interview segment, Chief executive of Jersey Oil & Gas PLC Andrew Benitz talks to Oil Analyst Malcom Graham-Wood to provide an update on Statoil’s completion of Farm-out process, company’s future plans and financing options.

As I write, the Jersey Oil and Gas shares are trading 2% higher at 61.25 levels. Earlier this month, prices spiked 45% as the company completed the farm-out of two North Sea blocks to Statoil.

Key quotes

Company is focused on North Sea market

Completed the successful farmout to Norwegian oil major Statoil on the P.2170 licence, in which Statoil will take a 70% stake

Trap Oil Group PLC acquired Jersey Oil & Gas E&P Ltd as part of Trap's major restructuring which included a name change

Funding style – well insulated for Verbier. Production focused strategy we have build strong relationship with banks… also getting support from shareholders

We have strong ambition to be opportunmistic deal making company in North Sea. We have no debts, no baggage… and a healthy portfolio.

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