JOG Jersey Oil And Gas Plc

TIDMJOG

RNS Number : 5149U

Jersey Oil and Gas PLC

24 October 2017

This announcement does not constitute a prospectus or offering memorandum or an offer in respect of any securities and is not intended to provide the basis for any investment decision in respect of Jersey Oil and Gas Plc or other evaluation of any securities of Jersey Oil and Gas Plc or any other entity and should not be considered as a recommendation that any investor should subscribe for or purchase any such securities.

24 October 2017

Jersey Oil and Gas plc

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

Posting of Circular

Jersey Oil and 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 today posted a Circular to shareholders concerning the Fundraising announced on 20 October 2017 which will be made available on the Company's website at www.jerseyoilandgas.com.

With regard to the Offer element of the Fundraising, Qualifying Shareholders will also receive an Application Form enabling them to apply for, in aggregate, up to 2,000,000 new Ordinary Shares at a price of 200p per share to raise up to GBP4 million (gross).

Capitalised terms used in this announcement shall have the same meanings as the definitions in the Company's announcement of 20 October 2017 and in the Circular.

 
 Offer timetable:                                         2017 
 Record Date for the Offer                   Close of business 
                                                    23 October 
 Dispatch of the Circular, Application              24 October 
  Form and Form of Proxy 
 Latest time and date for receipt                12.00 noon on 
  of completed Forms of Proxy and                   7 November 
  receipt of electronic proxy appointments 
  via the CREST system for the 
  General Meeting 
 Latest time for receipt of applications        1.00 p.m. on 8 
  under the Offer and payment in                      November 
  full by cheque under the Offer 
 General Meeting                                 12.00 noon on 
                                                    9 November 
 Announcement of results of General                 9 November 
  Meeting and Offer 
 Admission and commencement of                 8.00 a.m. on 10 
  dealings in the New Ordinary                        November 
  Shares on AIM 
  CREST accounts expected to be                8.00 a.m. on 10 
  credited for the Placing Shares                     November 
 
  Final date for Crest accounts                 by 17 November 
  to be credited for the Offer 
  Shares and for posting of certificates 
  for the New Ordinary Shares in 
  certificated form(if applicable) 
 

Each of the times and dates above refer to London time and are subject to change by the Company and/or the Joint Brokers. Any such change will be notified to Shareholders by an announcement on a Regulatory Information Service. The Circular will contain further details of the expected timetable for the Placing, the Offer, the General Meeting and Admission.

Enquiries:

 
 Jersey Oil and          Andrew Benitz,      C/o Camarco: 
  Gas plc                 CEO                 Tel: 020 3757 4983 
 Strand Hanson Limited   James Harris        Tel: 020 7409 3494 
                          Matthew Chandler 
                          James Bellman 
 Arden Partners          Chris Hardie        Tel: 020 7614 5900 
  plc                     Benjamin Cryer 
 BMO Capital Markets     Neil Haycock        Tel: 020 7236 1010 
  Limited                 Tom Rider 
 Camarco                 Billy Clegg         Tel: 020 3757 4983 
                          Georgia Edmonds 
                          James Crothers 
 

Notes to Editors:

Jersey Oil & Gas is a UK E&P Company focused on building a production focused company in the North Sea. The Company owns an 18 per cent. interest in the P.2170 licence, Blocks 20/5b & 21/1d, Inner Moray Firth. Statoil (U.K.) Limited owns a 70% interest and CIECO V&C (UK) Limited owns a 12% interest.

The Company plans to build a production portfolio via acquisitions coinciding with the cyclical recovery in the oil price and the current opportune buying market in the North Sea. The Company is involved in multiple sales processes and intends to draw on its management team's considerable experience, knowledge and expertise to deliver shareholder value from its stated production acquisition strategy.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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October 24, 2017 13:00 ET (17:00 GMT)

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