6 Nov 2014 07:00
6 Cavendish Square, London W1G 0PD, England, UK
Tel: +44 (0)20 7323 4464, Fax: +44 (0)20 7323 5258
Web site: http://www.jkx.co.uk
6 November 2014
JKX OIL & GAS plc ("JKX")
announces
Renewal of the Zaplavskoye Exploration Licence in Ukraine
JKX Oil & Gas plc ("JKX") is pleased to announce the award by the Ukrainian authorities of a further 5-year term to its Zaplavskoye exploration licence.
The Zaplavskoye licence surrounds four of the Company's adjoining production licences in Poltava on their western, southern and eastern sides. An area to the south of the licence has been relinquished, whilst an area to the west of the licence has been added. The licence area now totals 173 square kilometres and is valid until 31 December 2019.
JKX Chief Executive, Dr Paul Davies, commented:
"The addition of the area on the west of the Zaplavskoye licence was stimulated by the encouraging results from our recent 3D seismic survey over the licence area. Scheduling of further exploration drilling is dependent on the lifting of emergency production tax increases and exchange controls."
JKX Oil & Gas plc is an exploration and production company listed on the London Stock Exchange. The Company has licence interests in Ukraine, Russia, Hungary and Slovakia.
ENDS
For further information please contact:
Cardew Group T: 020 7930 0777
Nadja Vetter M: 07941 340436
Anthony Cardew M: 07770 720 389