Houlihan Lokey Advises Jersey Oil & Gas

Houlihan Lokey is pleased to announce that Jersey Oil & Gas PLC (JOG) has farmed out a 50% interest in the Greater Buchan Area development to NEO Energy for a 12.5% development cost carry, full carry of pre-FDP costs, and up to $33.9 million in cash.

Under the terms of the farm-out agreement, JOG will receive a 12.5% carry of the Buchan field development costs, a full carry of the Company’s pre-FDP costs, and cash payments of up to $33.9 million.

Houlihan Lokey acted as financial advisor to Jersey Oil & Gas with respect to a 50% W.I. farm-out of its interest in the Greater Buchan Area to NEO Energy.

RELATED: Oil & Gas, Corporate Finance