LONDON (Alliance News) - JKX Oil & Gas PLC Friday said it has appointed a new general director to lead the company's wholly-owned subsidiary operating in the Ukraine.
Daniel Valk has been appointed as the general director of Poltava Petroleum Co, based in Poltava, Ukraine, sitting alongside Technical Director Richard Bily and Finance Director Gene Palenka.
Valk has over 20 years of industrial management experience in Ukraine and Russia, including his tenure as chairman of DSS-Zaporozhe, a major steel manufacturer that claims to be the "undisputed Ukrainian leader" within the sector.
Valk was also the founder of US onshore oil and gas firm Vista Tex based in Texas.
The subsidiary holds five production licenses that form the Novo-Nikolaevskoye Complex: Ignatovskoye, Molchanovskoye, Novo-Nikolaevskoye and Rudenkovskoye and Elizavetovskoye. It also holds the Zaplavskoye exploration licence.
JKX shares were down 4.6% to 20.04 pence per share on Friday morning.
By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance
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