6th Nov 2014 09:51
LONDON (Alliance News) - JKX Oil & Gas PLC on Thursday said its exploration licence for the Zaplavskoye prospect in Ukraine has been extended by the country's government.
JKX said its exploration licence for the site, which surrounds four of its adjoining production licences in the Poltava area in Ukraine, has been extended for five years.
"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," said JKX Chief Executive Paul Davies.
JKX shares were up 0.2% to 37.69 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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