Jersey Oil and Gas tipped for upside as stockbroker eye upcoming farm-out
“We believe that Jersey Oil & Gas will successfully secure a farm-in partner to fund the development of the GBA,” said WH Ireland analyst Brendan Long.
WH Ireland sees huge upside to the Jersey Oil and Gas PLC (LON:JOG) share price as the stockbroker looks to a possible farm-out deal that will propel forward the Greater Buchan Area (GBA) oil field project in the North Sea.
In a note WH Ireland, which acts as broker to Jersey, said it believes the company is progressing the GBA project apace towards first oil by late 2025.
TRADING UPDATES: Block Energy 2020 revenue jumps; Kanabo loss narrows
Wed, 2nd Jun 2021 19:10
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
Block Energy PLC - development and production company focused on Georgia - Reports revenue for 2020 of USD1.3 million compared to USD310,000 the year ago, resulting in pretax loss of USD5.5 million versus USD6.1 million in 2019. Block Energy says production of oil and gas from the two horizontal wells in its West Rustavi licence area was suspended in April 2020 to avoid selling oil at low prices. Despite that, the company says it sold 34,421 barrels, up from 5,210 barrels the year prior. Meanwhile, on February 15, the company says it has achieved its first gas sales.
Multinational law firm Pinsent Masons has appointed corporate oil and gas specialist Rosalie Chadwick as Global Head of Oil and Gas. With a 20-year track record in leading multi-million pound mergers and acquisitions and capital markets deals in the UKCS and across international energy hubs, Rosalie will work in tandem with Pinsent Masons’ renewables energy team, supporting major clients with deals, disputes and financings, as well as the transition to zero-carbon futures.
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FTSE 100 lower with Scottish Mortgage trust leading the retreat; Wall Street mixed as Dow crosses 35K Tech shares appear to be out of fashion this week, as the US Nasdaq gave up more than 1%
The FTSE 100 down 6 points
Tech stocks out of favour
Centricafriendless after downbeat trading update
12.05pm: Major diversion among US indices as midday
The FTSE 100 ended down 6 points at 7,124, while the FTSE 250 lost 78 points, 0.3%, to close at 22,697. Sterling traders seem unperturbed by the prospect of the UK economy moving into another period of political uncertainty, as the elections put the SNP’s independence plan back on the agenda, IG Chief Market Analyst Chris Beauchamp wrote. An attritional battle through the courts to decide on the legality of a referendum seems likely, taking some of the shine off the prospects for the UK economy. Nonetheless, with the dollar now finding it harder to rally in the wake of the non-farms report it looks like sterling c