Jersey Oil and Gas (GB:JOG) has released an update.
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Jersey Oil & Gas has announced significant progress in their Buchan project, securing a 20% interest with no financial exposure thanks to successful farm-out transactions. Despite the current fiscal and political challenges facing the UK oil and gas industry, the company has taken measures to halve its cash costs and is exploring merger and acquisition opportunities beyond traditional UK assets. The Buchan project, once approved, could create over 1,000 jobs and attract substantial private investment, with the company advocating for a supportive fiscal and regulatory environment.
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