Jersey Oil & Gas has implemented further cost savings and salary reductions that should enable it to continue operating with its existing cash resources into 2017.

Further oil price declines since its previous Corporate Update in early December 2015 continue to create exciting opportunities for Jersey Oil & Gas, which has no existing debt, a clean balance sheet, access to debt capital and significant tax losses available to execute on its stated objective of acquiring interests in lower cost tie back fields capable of generating positive cash flow at an oil price of US$30 per barrel.

Tags: Jersey Oil and Gas Plc