6th Jul 2005 09:45
JKX Oil & Gas PLC06 July 2005 FOR IMMEDIATE RELEASE JKX OIL & GAS plc REPORTS UNOCAL FARM-IN TO GEORGIA BLACK SEA LICENSE JKX Oil & Gas plc ("JKX") is pleased to confirm that Unocal CAME IV Ltd("Unocal") will farm-in to the Georgia Black Sea license, comprising blocks IIa,IIb and III, held by Anadarko Georgia Ltd ("Anadarko"), BP Exploration OperatingCompany ("BP") and Turkish Petroleum Overseas Company ("TPOC"). The assignmentof interest is subject to approval by the State Agency for the Regulation of Oil& Gas Resources of Georgia and the national oil company, Georgian Oil. The production sharing contract will now be jointly held by Anadarko (48.0%), BP(28.5%), TPOC (13.5%) and Unocal (10%); JKX retains a 4% net profit interest inthe production sharing contract through its wholly owned subsidiary, JKX(Navtobi) Ltd. JKX Oil & Gas plc is an exploration and production company listed on the LondonStock Exchange. The Company has license interests in Ukraine, Georgia, Bulgaria,Turkey, Russia, Italy and the United States. For further information please contact: Anthony Cardew/Sofia Rehman Cardew Group 020 7930 0777 www.jkx.co.uk This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
JKX.L