logo-loader
viewJKX Oil & Gas PLC

JKX Oil and Gas shares jump on UK High Court ruling

"We are pleased that the High Court recognised the merit of our case,” said Victor Gladun, acting JKX chief executive

oil and gas operations
JKX shares were up 2.45p or 19.22% changing hands at 15.20p.

JKX Oil and Gas PLC (LON:JKX) shares jumped nearly 30% higher today after the UK High Court dismissed a claim against the company by the Government of Ukraine.

The company, in a statement, said: “The Government of Ukraine is accordingly therefore still liable to pay to JKX the sum of USD11.8 million plus interest and costs of USD0.3 million in relation to subsidiary claims, as previously ordered.”

Amicable resolution on other outstanding claims?

The judge also ordered Ukraine to pay JKX’s costs of £61,908 within 14 days.

"We are pleased that the High Court recognised the merit of our case,” said Victor Gladun, acting JKX chief executive.

“We hope that we can now reach an amicable resolution of the other outstanding legal claims between JKX and Ukraine."

In afteroon trading, JKX shares were 29%, or 3.75p higher at 16.50p.

 -- Updates share price --

Quick facts: JKX Oil & Gas PLC

Price: 24.7 GBX

LSE:JKX
Market: LSE
Market Cap: £42.42 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Minera Alamos announces 14-million-dollar deal with Osisko Gold Royalties to...

Minera Alamos (CVE: MAI) President Doug Ramshaw joined Steve Darling from Proactive Vancouver on Skype with details about a deal they have signed with Osisko Gold Royalties to help fund construction on their Santana project in Mexico. Ramshaw telling Proactive how the deal will work and the...

2 days, 12 hours ago

2 min read