AIM WINNERS & LOSERS: Jersey Oil & Gas agrees farm-out at Buchan

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Thursday.

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AIM - WINNERS

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Jersey Oil & Gas PLC, up 22% at 239.8 pence, 12-month range 146p-336p. The upstream oil and gas company focused on the UK Continental Shelf region of the North Sea agrees to farm-out a 30% interest in the Greater Buchan Area licenses to Serica Energy UK Ltd. Once complete, it will hold a 20% interest in the licenses, and a fully carry on the capital expenditure needed to bring the Buchan field to production. Says the terms are identical to those completed with Neo Energy earlier this year. The combined cash payments from the two farm-outs will be over USD18 million, with a further USD20 million due once the field development plan is approved. "We are thoroughly delighted to announce the farm-out transaction with Serica Energy. Not only does it bring a further high-quality partner into the joint venture, but it unlocks exceptional value for the company and delivers upon our overall objectives for the GBA farm-out strategy," says Andrew Benitz, JOG's CEO. Serica Energy PLC rises 2.4%.

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Windward Ltd, up 11% at 73.2p, 12-month range 33p-80p. The Tel Aviv, Israel-based maritime predictive intelligence company wins a EUR3.2 million contract with a new European national coastguard customer for a five-year term. Expects the fee to be paid up front in full, which will help bolster its cash position. Says the contract will see its maritime artificial intelligence technology used to "protect against the increasing sophistication of maritime bad actors". Adds that it's trading in line with market expectations, and its offices within Israel remain fully operational.

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AIM - LOSERS

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United Oil & Gas PLC, down 19% at 0.79p, 12-month range 0.7p-2.2p. The oil and gas company focused on Egypt and Jamaica says its preferred potential partner no longer wishes to pursue discussions about participating in its Walton Morant license in Jamaica. It will now focus on other interested parties, noting the "recent positive interest" in the license from potential partners. Also says it is engaging with the country's authorities about securing extensions to its license period, which expires at the end of January. Will update in due course.

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By Elizabeth Winter, Alliance News deputy news editor

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