JKX sees $1.9 mln in net profit in H1 2018
JKX Oil&Gas Plc with assets in Ukraine and Russia in January-June 2018 saw $1.9 million of net profit, while a year ago its net loss was $7.7 million.
The company reported on the website of the London Stock Exchange (LSE), revenue over the period grew by 15.2%, to $42.2 million. Gas segment brought $30 million to the company, oil business - $9.2 million and LPG - $2.6 million.
Revenue of Ukrainian assets in H1 2018 grew by 14.9%, to $33.2 million. Revenue of Russian assets rose by 15.2%, to $9.1 million. Hungarian assets, which JKX decided to sell, brought $0.8 million over the period.
Poltava Petroleum Company first since 2015 started drilling a new well. In addition, the company intensified enhancement activities. Since early 2018, the company restored five wells from operated under agreements with state-owned companies and four from own wells.
First Poltava Petroleum Company imported fuel to additionally load its LPG plant, boosting its loading from 25% to 40%.