Jersey Oil & Gas said it had agreed terms with Total in relation to the latter's termination of a 2013 farm-in to a licence.

By way of a full and final settlement, Jersey Oil & Gas said it would receive £750k.

'We are pleased to have reached agreement on this legacy issue regarding the farm-out of our former interest in Licence P2032, which was relinquished in 2015,' the company said.

At 1:35pm: (LON:JOG) Jersey Oil And Gas Plc share price was +3.5p at 73p