TIDMJKX

RNS Number : 2971Q

JKX Oil & Gas PLC

11 September 2017

11 September 2017

JKX Oil & Gas plc

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

August 2017 Monthly Production Report

 
                             August   July    % Change    8 months     8 months    % Change 
                              2017     2017               to August    to August 
                                                            2017         2016 
--------------------------  -------  ------  ---------  -----------  -----------  --------- 
 Total production 
  (boepd(1) )                9,146    8,474     7.9%       8,652        10,216     (15.3)% 
--------------------------  -------  ------  ---------  -----------  -----------  --------- 
 Ukraine (boepd)             3,293    3,447    (4.5)%      3,665        4,089      (10.4)% 
 - Average gas production 
  (MMcfd(2) )                 15.4    16.4     (6.1)%       17.7         18.9       (6.3)% 
 - Average oil and 
  condensate production 
  (boepd)                     721      720      0.1%        719          944       (23.8)% 
--------------------------  -------  ------  ---------  -----------  -----------  --------- 
 Russia (boepd)              5,747    4,949    16.1%       4,831        6,127      (21.2)% 
 - Average gas production 
  (MMcfd)                     34.1    29.4     16.0%        28.7         36.4      (21.2)% 
 - Average condensate 
  production (boepd)           65      55      18.2%         52           65       (20.0)% 
--------------------------  -------  ------  ---------  -----------  -----------  --------- 
 Hungary (boepd)              106      78      35.9%        156           -          100% 
 - Average gas production 
  (MMcfd)                     0.6      0.4     50.0%        0.9           -          100% 
 - Average condensate 
  production (boepd)           8        4      100.0%        10           -          100% 
--------------------------  -------  ------  ---------  -----------  -----------  ---------

-- Average Group production for August 2017 was 9,146 boepd, a 7.9% month-on-month increase and a 15.3% year-on-year decrease for the first eight 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 down by 1 MMscfd month-on-month mainly due to a drop in the monthly average gas production of 0.7 MMscf/d in NN22. The well was not flowing consistently and has been put on batch production.

-- In Russia, gas production was higher than in July due to increased contribution of Well 25. The well is currently producing at the rate of 10.3 MMscf/d. Well 27 was also acidized on the 5(th) August which contributed to the increase in gas production in August. We have also commenced the workover of Well 5.

-- In Hungary, gas production increased modestly through August after improvements were made to the water handling equipment and process.

   --     In August 2017, the Company paid the convertible bond interest of $1.1million.

(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                              +44 (0) 20 7323 4464

Victor Gladun, Acting Chief Executive Officer

   Stockdale Securities                         +44 (0) 20 7601 6100

Robert Finlay, Daniel Harris

   EM Communications                          +44 (0) 20 3709 5711

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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September 11, 2017 02:00 ET (06:00 GMT)

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