JKX Oil & Gas has been awarded by the Ukrainian authorities of a further 5-year term to its Zaplavskoye exploration licence.
The Zaplavskoye licence surrounds four of the Company's adjoining production licences in Poltava on their western, southern and eastern sides. An area to the south of the licence has been relinquished, whilst an area to the west of the licence has been added. The licence area now totals 173 square kilometres and is valid until 31 December 2019.
JKX Chief Executive, Dr Paul Davies, commented:"The addition of the area on the west of the Zaplavskoye licence was stimulated by the encouraging results from our recent 3D seismic survey over the licence area. Scheduling of further exploration drilling is dependent on the lifting of emergency production tax increases and exchange controls."