By LSE RNS
11 September 2017
JKX Oil & Gas plc
("JKX", the "Company" or the "Group")
August 2017 Monthly Production Report
|
August 2017 |
July 2017 |
% Change |
8 months to August 2017 |
8 months to August 2016 |
% Change |
Total production (boepd1) |
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 (MMcfd2) |
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 5th 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.
1boepd - Barrels of oil equivalent per day
2MMcfd - 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
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