The new managers of JKX Oil&Gas Plc say the company wants to resolve its legal case against the Ukrainian government even via settling for a lower figure (today the company is suing the ukr government for $270 million), The Financial Times has reported.

"We would like to end the conflict with the Ukrainian government as soon as possible," the publication reported, citing New Head of JKX Tom Reed as saying.

JKX said that the lawsuit had distracted the company from its core task of drilling for oil and gas and JKX is spending $2 million a year fighting the case in The Hague.

According to a report of JKX on the London Stock Exchange (LSE), the company had spent around $3.5 million on the lawsuit. Some $3.9 million was spent on lawsuits against Ihor Kolomoisky and Hennadiy Boholiubov's Eclairs and Alexander Zhukov's Glengary.

The company said that the hearing of its claim against Ukraine will be held in July 2016.

Along with lawsuits in international courts, JKX is involved in the litigations in Ukrainian courts suing for around $41 million.

As reported, JKX's claims against Ukraine appeared due to too high royalty the country introduced earlier.

JKX Oil&Gas Plc owns Poltava Petroleum Company.