Latest Share Chat

JKX.L Share News (JKX)

JKX.L Information

There is currently no data for JKX

JKX Gets Licence Area Extension In Ukraine But Suspends Drilling

Mon, 18th May 2015 07:33

LONDON (Alliance News) - JKX Oil & Gas PLC on Monday said Ukrainian authorities have awarded an extension to the company's Elizavetovskoye production licence to include the West Mashivske prospect, but said it has suspended drilling operations due to "punitive" government policies.

JKX said the West Mashivske prospect is immediately west and contiguous with its existing Elizavetovskoye licence. The additional award increases the licence area by 33.9 square kilometres, making the total licence area 104.7 square kilometres.

"This further award is a recognition of our ability to develop the potential of our Ukrainian licences," said Paul Davies, JKX's chief executive.

"However, we have been forced to suspend drilling operations in Ukraine because of the current punitive levels of production tax and restrictive currency controls," Davies added, without providing any further detail on the decision.

JKX had restarted full production in Ukraine in March following the end of a temporary gas sales restriction put in place in the country. It had been forced to shut-in a proportion of its oil and gas production after the Ukrainian government in November issued a decree which required all industrial gas customers in the country to buy the gas solely from state-owned Naftogaz for three months ending February 28.

JKX did not provide any further details on the reasons behind its decision to suspend drilling operations in the country again.

Shares in JKX were down 6% to 28.2 pence on Monday.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

More News

15 Jul 2010 07:36

Russian well result beats expectations, says JKX

Oil explorer JKX Oil & Gas said results from the second well test in the Koshekhablskoye Field, Russia, "far" exceeded expectations. The group said well 20 flowed at a stabilised rate of 22.6 MMcfd of gas and an estimated 25 bpd of condensate through a 60/64". "This result far exceeds the company's

15 Jul 2010 07:36

JKX Oil & Gas: Well 20 Flowed at 22.6M Cubic Feet Per Day

LONDON (Dow Jones)--JKX Oil & Gas PLC (JKX.LN) said Thursday that at its second well test in the Koshekhablskoye Field, in the Republic of Adygea, Russia, well 20 flowed at a stabilized rate of 22.6 million cubic feet per day, or MMcfd, of gas and an estimated 25 barrels per day, or bpd, of condensa

8 Jul 2010 16:09

FTSE 250 movers: Resource plays do well

Iron ore producer Ferrexpo and oil company JKX have benefited from an increase in commodity prices. They're closely followed by recruitment firm Hays, which has returned to year on year growth for the first time in two years. Dixons group DSG International is wanted after it emerged that UBS Globa

5 May 2010 17:16

London close: Late rally pares losses

Though tomorrow is the day of the UK General Election all eyes were on Greece today, as at least three people were reported dead as violent protests erupted in central Athens against the planned introduction of austerity measures. Stocks came off the bottom towards the end of the session, though th

5 May 2010 14:53

London afternoon: Greek riots rattle investors

Footsie is now nursing a triple digit fall as the downward trend seen in the last hour of the morning session accelerated over lunch as US investors woke up to television footage of Greeks rioting in the streets. Civil unrest in Greece has sent the price of oil and metals into decline with a predic

5 May 2010 12:19

London midday: Stocks turn south again

Having recovered all the way back to last night's closing level shortly after 11:00am the Footsie headed south again for the remainder of the morning as the US futures markets suggested Wall Street will open lower. On a busy day for trading announcements Next is the most conspicuous faller despite

5 May 2010 08:46

JKX making 'good progress'

Eastern Europe focused JKX Oil & Gas has started the year positively with good progress made on all development and exploration assets during the first quarter, but the shares fell today as oil prices slid again. Group production hit 11,384 barrels of oil equivalent per day (boepd) in the three mon

6 Apr 2010 16:36

Avesco founder adds to stake

Deputy chairman Richard Murray is buying shares in Avesco Group at a time when there is stake building by an investment company. Taya Investment Company increased its stake in the broadcast and presentation equipment supplier and renter to 26.6% last month. Taya has been building up this stake i

30 Mar 2010 12:01

London midday: Equities mark time

Footsie finished the morning little changed despite a strong showing from the mining sector. Mining giant BHP Billiton is higher after saying it has successfully persuaded several of its iron ore customers in Asia to move to shorter term contracts. The renegotiated contracts cover the majority of B

30 Mar 2010 08:08

JKX outlook 'extremely positive'

Eastern Europe focused oil and gas firm JKX said it performed in line with expectations in 2009 and is looking to make a 'significant leap forwards' in 2010. Revenue in 2009 eased to $196.5m from $207m in 2008. Oil revenue dived to $76.4m from $121.8m in 2008 as oil prices tanked, but gas revenue i

26 Jan 2010 16:25

London close: Footsie snaps 4-day losing streak

Top stocks staged a recovery late afternoon as Wall Street reacted well to US consumer confidence at a 16-month high. Standard Chartered was a bright spot after Nomura said the recent share price fall represents a buying opportunity. The Japanese broker upgraded the Far East focused bank to 'buy'

26 Jan 2010 14:19

London afternoon: Losses pared

Leading shares cut back their losses over the lunch time session but resource stocks remain under the cosh on fears that the Chinese authorities will step up its campaign to cool down its overheating economy and lift interest rates. Fresnillo, Xstrata and Kazakhmys lead the mining sector lower, wh

26 Jan 2010 12:03

London midday: GDP figures no comfort

News that the UK economy limped out of recession in the fourth quarter has failed to cheer equities, which remain more concerned about China and the possibility its government will slam the economic brakes on. The UK economy grew just 0.1% in the fourth quarter, far less than expected. Economists h

26 Jan 2010 08:49

London open: Blue chips struggle

Footsie has fallen again in early dealing with miners again under pressure on worries about overheating in China and the possibility its government will slam the economic brakes on. The big mining names are all lower this morning. Rio Tinto, Anglo American and Lonmin are the worst affected, but fal

26 Jan 2010 07:28

JKX taps market

FTSE 250 oil company JKX Oil & Gas is to raise £37.8m through a share placing. The company is increasing its issued ordinary share capital base by about 9.1% through the issue of 14.26m shares at 265p each. The funds from the placing will enable the company to speed up the development of its core

Latest Share Chat

JKX.L Share News (JKX)

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

JKX Gets Licence Area Extension In Ukraine But Suspends Drilling

Login to your account

Quickpicks are a member only feature

Login to your account