JKX Oil & Gas PLC May 2017 Monthly Production Report (8720H)

TIDMJKX

RNS Number : 8720H

JKX Oil & Gas PLC

13 June 2017

13 June 2017

JKX Oil & Gas plc

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

May 2017 Monthly Production Report

 
                              May    April   % Change   5 months   5 months   % Change 
                              2017    2017               to May     to May 
                                                          2017       2016 
--------------------------  ------  ------  ---------  ---------  ---------  --------- 
 Total production 
  (boepd(1) )                7,847   7,800     0.6%      8,721      10,317    (15.5)% 
--------------------------  ------  ------  ---------  ---------  ---------  --------- 
 Ukraine (boepd)             3,837   3,561     7.8%      3,768      4,107      (8.3)% 
 - Average gas production 
  (MMcfd(2) )                18.6    17.0      9.4%       18.6       19.2      (3.1)% 
 - Average oil and 
  condensate production 
  (boepd)                     744     727      2.3%       663        901      (26.4)% 
--------------------------  ------  ------  ---------  ---------  ---------  --------- 
 Russia (boepd)              3,860   4,023    (4.1)%     4,761      6,210     (23.3)% 
 - Average gas production 
  (MMcfd)                    22.9    23.8     (3.8)%      28.3       36.9     (23.3)% 
 - Average condensate 
  production (boepd)          44      51     (13.7)%       51         66      (22.7)% 
--------------------------  ------  ------  ---------  ---------  ---------  --------- 
 Hungary (boepd)              150     216    (30.6)%      192         -         100% 
 - Average gas production 
  (MMcfd)                     0.9     1.2    (25.0)%      1.1         -         100% 
 - Average condensate 
  production (boepd)           5      10     (50.0)%       12         -         100% 
--------------------------  ------  ------  ---------  ---------  ---------  --------- 
 

-- Average Group production for May 2017 was 7,847 boepd, a 0.6% month-on-month increase and a 15.5% year-on-year decrease for the first five months of the year, largely due to a planned workover in Russia, partly compensated by increased production in Ukraine as a result of the successful enhancement programme.

-- In Ukraine, gas production increased due to pre-stimulation gas production from 6R in Rudenkivske and a complete month of production from EM53 in Elizavetivske. Oil production increase was due to the installation of an ESP in IG128 which increased the well's average oil production from 38 stb/d(3) to 132 stb/d.

-- In Russia, gas production is lower than April due to the absence of an acid job on Well 27 in May but with an acid job planned in the first half of June. The workover on Well 25 is now expected to recommence on 15(th) June 2017.

(1) boepd - Barrels of oil equivalent per day

(2) MMcfd - Million cubic feet per day

(3) stb/d - standard tank barrel 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] 

Russell Hoare, Chief Financial 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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June 13, 2017 02:00 ET (06:00 GMT)