Result of Annual General Meeting Result of Annual General Meeting

Released : 26/05/2016

RNS Number : 4259Z Jersey Oil and Gas PLC 26 May 2016

26 May 2016 Jersey Oil and Gas plc

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

Result of Annual General Meeting and Updated Corporate Presentation

Jersey Oil & Gas (AIM: JOG), an independent oil and gas company which is pursuing an acquisition­led strategy in the UK Continental Shelf region of the North Sea, announces that the resolutions proposed at its Annual General Meeting ("AGM") held earlier today, as set out in the formal Notice of Annual General Meeting dated 29 April 2016, were all duly approved by shareholders.

At the AGM, an updated corporate presentation was delivered by the Company's Chief Executive Officer, Mr Andrew Benitz, which is available to download on the Company's website at www.jerseyoilandgas.com.

The presentation highlights, inter alia, work currently being undertaken by the Company to seek to secure a farm­out partner(s) for its promising Cortina asset (Licence P.2170, Blocks 20/5b & 21/1d) located in a prolific hydrocarbon fairway where two main medium risk prospects with combined mean STOIIP in excess of 500 Mmbbls have been identified. Keeping in mind the inherent associated risk with exploration, management's valuation analysis on an unaudited P50 gross recoverable resource of 117 Mmbbls indicates a potential gross NPV10 value for the field of

£435m. Depending on the group's level of retained interest post completion of any such farm­out transaction, and assuming successful future drilling activity leading to a development, the field could have material future potential upside value to the Company.

**ENDS** Enquiries:

Jersey Oil & Gas plc Andrew Benitz, CEO C/o Camarco:

Tel:

020 3757 4983

Strand Hanson Limited

James Harris Matthew Chandler

Tel:

020 7409 3494

FirstEnergy Capital LLP

Hugh Sanderson David van Erp

Tel:

020 7448 0200

Camarco

Billy Clegg Georgia Mann

Tel:

020 3757 4983

This information is provided by RNS

The company news service from the London Stock Exchange

END

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Jersey Oil and Gas published this content on 26 May 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 30 May 2016 08:06:08 UTC.

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