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.
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