JKX Oil & Gas PLC October 2016 Monthly Production Report (8853P)

TIDMJKX

RNS Number : 8853P

JKX Oil & Gas PLC

23 November 2016

23 November 2016

JKX Oil & Gas plc

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

October 2016 Monthly Production Report

 
                             October   September   % Change   10 months   10 months   % Change 
                               2016       2016                    to          to 
                                                               October     October 
                                                                 2016        2015 
--------------------------  --------  ----------  ---------  ----------  ----------  --------- 
 Total production 
  (boepd(1) )                 9,900      9,669       2.4%      10,163       8,678      17.1% 
--------------------------  --------  ----------  ---------  ----------  ----------  --------- 
 Ukraine (boepd)              3,734      3,635       2.7%       4,021       4,308      (6.7%) 
 - Average gas production 
  (MMcfd(2) )                 17.6       16.5        6.7%       18.6        20.9      (11.0%) 
 - Average oil and 
  condensate production 
  (boepd)                      808        888       (9.0)%       928         826       12.3% 
--------------------------  --------  ----------  ---------  ----------  ----------  --------- 
 Russia (boepd)               6,167      6,034       2.2%       6,142       4,370      40.5% 
 - Average gas production 
  (MMcfd)                     36.6       35.8        2.2%       36.5        26.0       40.4% 
 - Average condensate 
  production (boepd)           65         66        (1.5)%       66          45        46.7% 
--------------------------  --------  ----------  ---------  ----------  ----------  --------- 
 

Summary

-- Average Group production for October 2016 was 9,900 boepd, 2.4% higher than the previous month.

-- September production in Ukraine was impacted by the scheduled maintenance shut downs for both of the Group's gas processing plants.

-- In Russia, a routine acid job was carried out on Well 27 leading to increased month-on-month production.

-- The Company began to implement its field development plan for the Rudenkivske field in Ukraine with the workover of well NN16, which was completed on 6 November. Initial peak hourly production from NN16 was 16.4 MMcfd of gas and 467 boepd of condensate on a 48/64ths" choke (3,200 boepd total) but has since declined. Further information will be provided as production stabilizes.

(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] 

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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November 23, 2016 02:00 ET (07:00 GMT)