shares in jersey oil  gas plc rose friday after the company said it was in advanced exclusive negotiations with an undisclosed north sea operator in the uk shares at 0714 gmt were up 2950 pence or 19 at 18250 pence the londonlisted oilandgas company said it had agreed the main terms for the farmout of a material interest in the greater buchan area oilfield licenses to this company and that both parties were working toward finalizing a fullytermed agreement in the near future it added they had agreed on an exclusivity period until april 30 we are pleased to be in advanced exclusive negotiations with a wellfunded industry heavyweight and whilst there can be no guarantees of a successful conclusion we are aiming to finalize the farmout in the near future and look forward to updating shareholders shortly chief executive andrew benitz said