JKX Oil & Gas Announces Sale of Non-core Assets
Source: www.gulfoilandgas.com 10/4/2021, Location: Asia
The Company has previously announced its intention to focus its portfolio on its most prospective opportunities. Following a further review the Board has decided that the Company will dispose of its one remaining non-core asset, being its 100% interest in its Russian operating subsidiary, Yuzhgasenergie LLC. The Company is now actively seeking buyers.
Sales proceeds from the disposal of this non-core asset will be used to finance on-going activities and possible further acquisitions in Ukraine. Ukraine remains the Company's core focus area and the area where it sees the most prospective opportunities.
Elements of this press release contain or may contain inside information about JKX Oil & Gas plc within the meaning of Article 7(1) of the Market Abuse Regulation (596/2014/EU) as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR") and is in accordance with the company's obligations under Article 17 of UK MAR.
