Jersey Oil & Gas announces that the West Phoenix semi-submersible rig which drilled the 20/05b-14 Verbier appraisal well has now moved off location. The well was drilled safely and below budget. 

JOG advise that Equinor UK Limited, as operator of the P2170 Licence, has confirmed to the co-venturers that it will complete the already planned full re-evaluation of the licence area, combining the recent appraisal well results and data collected during operations with the fully processed 3D broadband seismic data, acquired in 2018 and which is expected to be delivered in June 2019, in order to better understand the reservoir distribution of the primary target.  The evaluation will also include an assessment of additional prospectivity in the deeper targets and the other previously identified exploration opportunities, including Cortina, before making a recommendation to the co-venturers on a potential future appraisal/exploration programme.

The co-venturers in the P2170 Licence and their respective interests are: Equinor 70%, JOG 18% and CIECO V&C (UK) Limited 12%.

Andrew Benitz, CEO of Jersey Oil & Gas, commented:
"The appraisal well results were disappointing for us all, however we believe there is still plenty to play for in terms of both the Verbier discovery and in the remainder of our acreage and we look forward to receiving the new fully processed 3D seismic to help us de-risk the licence further. I am delighted, therefore, that the co-venturers are aligned in implementing the requisite immediate work streams with the objective of assessing potential future appraisal and exploration drilling opportunities on the licence area."

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