JKX Oil & Gas PLC July 2017 Production Report (5916N)

TIDMJKX

RNS Number : 5916N

JKX Oil & Gas PLC

10 August 2017

10 August 2017

JKX Oil & Gas plc

("JKX", the "Company" or the "Group")

July 2017 Monthly Production Report

 
                             July    June    % Change   7 months   7 months   % Change 
                              2017    2017               to July    to July 
                                                          2017       2016 
--------------------------  ------  ------  ---------  ---------  ---------  --------- 
 Total production 
  (boepd(1) )                8,439   7,669    10.0%      8,575      10,266    (16.5)% 
--------------------------  ------  ------  ---------  ---------  ---------  --------- 
 Ukraine (boepd)             3,447   3,446     0.0%      3,719      4,091      (9.1)% 
 - Average gas production 
  (MMcfd(2) )                16.4    16.6     (1.2)%      18.0       19.0      (5.3)% 
 - Average oil and 
  condensate production 
  (boepd)                     720     684      5.3%       719        930      (22.7)% 
--------------------------  ------  ------  ---------  ---------  ---------  --------- 
 Russia (boepd)              4,949   4,119    20.2%      4,697      6,175     (23.9)% 
 - Average gas production 
  (MMcfd)                    29.4    24.4     20.5%       27.9       36.7     (24.0)% 
 - Average condensate 
  production (boepd)          55      46      19.6%        51         65      (21.5)% 
--------------------------  ------  ------  ---------  ---------  ---------  --------- 
 Hungary (boepd)              43      104    (58.7)%      158         -         100% 
 - Average gas production 
  (MMcfd)                     0.2     0.6    (66.7)%      0.89        -         100% 
 - Average condensate 
  production (boepd)           4       8     (50.0)%       10         -         100% 
--------------------------  ------  ------  ---------  ---------  ---------  --------- 
 

-- Average Group production for July 2017 was 8,439 boepd, a 10.0% month-on-month increase and a 16.5% year-on-year decrease for the first seven months of the year. The year-on-year decrease was largely due to the delayed workover of well 25 in Russia.

-- In Ukraine, gas production was consistent with the previous month. Oil production was up by 36 boepd month-on-month due to small increases in production from IG105, IG137-Bis and IG132. These increases have come about as a result of the installation of a de-waxing unit in IG137-Bis and more regular wax cutting in the other wells.

-- In Russia, gas production was higher than in June due to contribution of Well 25. The well is currently producing at the rate of 10.1 MMscf/d.

-- In Hungary, gas production lower than in June due to increased water breakthrough at well Hn-2. Technical limits of the water handling equipment necessitated a reduction in gas production rates.

(1) boepd - Barrels of oil equivalent per day

(2) MMcfd - Million cubic feet per day

This announcement contains inside information as defined in EU Regulation No. 596/2014 and is in accordance with the Company's obligations under Article 17 of that Regulation.

ENDS

   JKX Oil & Gas plc                              [phone] 

Victor Gladun, Acting Chief Executive Officer

   Stockdale Securities                         [phone] 

Robert Finlay, Daniel Harris

   EM Communications                        [phone] 

Stuart Leasor, Jeroen van de Crommenacker

This information is provided by RNS

The company news service from the London Stock Exchange

END

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August 10, 2017 02:01 ET (06:01 GMT)