By using new technology to renovate 14 old state gas company wells, London-listed JKX Oil&Gas Plc turned last year’s $7.7 million H1 loss into a $1.9 million H1 profit this year
Thursday, August 2, 2018

By using new technology to renovate 14 old state gas company wells, London-listed JKX Oil&Gas Plc turned last year’s $7.7 million H1 loss into a $1.9 million H1 profit this year

By using new technology to renovate 14 old state gas company wells, London-listed JKX Oil&Gas Plc turned last year’s $7.7 million H1 loss into a $1.9 million H1 profit this year. Dragon writes: “The latest financial statements mark quite a turnaround for JKX.” Concorde Capital’s Alexander Paraschiy writes: “JKX shifted its Ukraine strategy in 1H18 to a low-cost work over of its abandoned state-owned wells. This enabled the company to significantly reduce its capex and improve its cash balance…meanwhile, better prices for oil and natural gas in Ukraine enabled the company to boost its cash generation.”

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