Jersey Oil and Gas (GB:JOG) has released an update.
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Jersey Oil and Gas PLC (JOG) has announced a transformative year with key farm-out transactions in the Greater Buchan Area, positioning the company for long-term income without additional shareholder equity. The Buchan redevelopment project is on track with a focus on sustainability and is progressing towards regulatory approvals, expected in the latter half of 2024. Financially, JOG is well-positioned with a cash balance of over £15 million post-transaction and a reduction in annual cash costs, setting the stage for strategic growth and shareholder value.
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