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Total has reached an agreement with Jersey Oil & Gas (JOG) to settle the termination of asset farm-in deal of 2013. JOG will get approximately $949,500 as a full and final settlement from Total’s UK subsidiary. Total had agreed to buy equity in License P.2032 from JOG in 2013. However, Total didn’t exercise the ‘drill or drop’ in a six-month period and disputed the compensation to be made to JOG.
