Jersey OIL and GAS plc
Jersey Oil and Gas plc (JOG) is a UK upstream oil and gas company listed on AIM, focused on monetising the Greater Buchan Area (GBA) in the UK North Sea, comprising the Buchan Horst redevelopment and the Verbier and J2 discoveries. Following farm-out transactions with NEO Energy and Serica Energy, JOG retains a fully-carried, non-operated 20% interest in the GBA and currently generates no production revenue, with the business centred on securing Field Development Plan (FDP) sanction for Buchan and pursuing accretive acquisitions.
FY2025 in sixty seconds
year to 31 Dec 2025 · approved 11 May 2026 · 86 pages · Companies House
Jersey Oil and Gas plc owns a 20% stake in the Greater Buchan Area, a group of oil fields in the UK North Sea that are not yet producing, so it had no revenue in 2025 or 2024. Its loss after tax narrowed to £1.7m, from £3.5m the year before.
The main reason was lower running costs. The report says cash overheads fell 47% to £2.2m, helped by salary cuts for the board and staff. The loss also includes share option charges, which did not use up any cash.
Cash at the year end was £723k, down from £6.2m, but most of the company's money sits in term deposits. Cash and term deposits together were £11.0m. There are no borrowings and no dividend is proposed. Its share of the Buchan development costs is paid by its partners, NEO and Serica.
Management says the business is funded for the Buchan programme, with running costs of under £1.5m a year. The auditor raised no doubt about the company's ability to keep going. The main risks are that the project still needs regulatory approval and a final go-ahead, and that UK North Sea tax rules may change.
Future production cash flow from the Buchan field redevelopment once sanctioned
The potential for the Buchan Horst development to drive long term shareholder value is well understood and securing sanction for this project represents a huge opportunity
page 6Step change in overhead cost base: cash overheads reduced 47% in 2025 to £2.2m (2024: £4.1m; 2023: £5.7m); Board and staff salaries cut 50% from November 2024
A step change in the overhead costs of the business has ensured the Group has remained resilient...Administrative expenses reduced substantially for the second consecutive year
page 12With total year-end cash reserves of £11 million, no debt and a current cash run rate of under £1.5 million per annum, the business is financially secure and funded for execution of the Buchan development programme.
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GBP millions, negatives in brackets. Per-share lines in pence. Share counts in millions. Margins and returns as percentages, calculated from the filed figures. later is what a following report restated the figure to; vs is a second reading that disagrees. The figure shown is the one the original filing printed, and both readings are kept. Click any figure: opens the report page it was read from, highlighted; shows how it was calculated.
Nothing restated
Every figure is read again from the following year’s report: 300 confirmed, 5 differ.
No figure has been restated: every figure a later report printed again, it printed the same.