Jersey Oil & Gas Targets Buchan Optimisation as UK North Sea Fiscal Clarity Resets Investment Horizon

Jersey Oil and Gas ( (GB:JOG) ) has provided an update.

Jersey Oil & Gas has outlined its 2026 outlook following the UK Government’s completion of regulatory and fiscal consultations, which have clarified environmental requirements and confirmed the continued application of the Energy Profits Levy until 2030 and the introduction of the Oil and Gas Price Mechanism thereafter. The company believes the resulting tax framework favours long-term investment between now and the end of the decade, and is working with operator NEO Energy and partner Serica Energy to optimise the development concept for the Buchan field, including reassessing the previously preferred Western Isles FPSO against alternative production solutions and updating the project’s Environmental Impact Assessment to incorporate Scope 3 emissions. In the Greater Buchan Area, the partners have partially relinquished higher-risk acreage on licence P2170 to cut fees by about 40%, while planning to seek extensions to the second term of both P2498 (Buchan) and P2170 as they advance towards Field Development Plan approval. Strategically, Jersey Oil & Gas remains focused on unlocking value from its existing GBA assets, pursuing selective acquisitions that add cash flow and diversification, and exploiting over £100 million of UK tax allowances, all underpinned by a reduced cost base, year-end 2025 cash of about £11m, no debt, and a fully carried 20% share of Buchan project spending plus a further US$20m cash payment due on FDP approval.

The most recent analyst rating on (GB:JOG) stock is a Hold with a £93.00 price target. To see the full list of analyst forecasts on Jersey Oil and Gas stock, see the GB:JOG Stock Forecast page.

Spark’s Take on GB:JOG Stock

According to Spark, TipRanks’ AI Analyst, GB:JOG is a Neutral.

The score is primarily held back by weak financial performance (no revenue, ongoing losses, and persistent cash burn), partially offset by a conservative balance sheet with minimal leverage and some year-over-year improvement. Technicals are mixed with a negative MACD and price below longer-term averages, and valuation lacks support due to a negative P/E and no dividend yield data.

To see Spark’s full report on GB:JOG stock, click here.

More about Jersey Oil and Gas

Jersey Oil & Gas plc is an independent upstream oil and gas company focused on exploration and development on the UK Continental Shelf in the North Sea, with its core assets in the Greater Buchan Area. The company participates in the Buchan development alongside larger partners NEO Energy and Serica Energy, targeting oil and gas resources and leveraging UK tax allowances to build a portfolio that may include both UK and selected international producing assets.

Average Trading Volume: 169,636

Technical Sentiment Signal: Sell

Current Market Cap: £32.67M

See more data about JOG stock on TipRanks’ Stock Analysis page.