14:22 02.03.2015

JKX resumes operation at all wells in Ukraine after expiry of gas sales restrictions

2 min read
JKX resumes operation at all wells in Ukraine after expiry of gas sales restrictions

Britain's JKX Oil&Gas Plc with assets in Ukraine has now returned all wells in its Ukrainian fields to full production after expiry of gas sales restrictions to industrial consumers, the company has said on the London Stock Exchange (LSE).

According to the report, the company has received confirmation from the Ukrainian state gas distributor Ukrtransgaz that 100% of its nominations for March delivery of gas to industrial customers have been accepted.

As reported, the Cabinet issued resolution No. 647 of November 26, 2014, according to which around 170 large industrial consumers were obliged to buy natural gas only from national joint-stock company Naftogaz Ukrainy, starting from December1, 2014.

As reported, JKX Oil & Gas owns Poltava Petroleum Company. The company holds four licenses to develop oil and gas fields that are part of the Novomykolaivsky complex in the Poltava region, which covers 271 square kilometers. It also has three exploration permits: for the Zaplavske, Yelyzavetivske and Chervonoyarsko-Skhidne fields, covering a total of 171.2 square kilometers.

JKX Oil & Gas plc also has licensed interests in Russia, Hungary, and Slovakia.

The company's largest stockholders are Kolomoisky and Hennadiy Boholiubov's Eclairs Group with a 27.5% stake in JKX and Oleksandr Zhukov's Glengary Overseas Ltd. with 11.45%.

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