JKX Oil & Gas plc has been granted a further three 35-year production licenses covering an additional area of approximately 47 square miles within its original Hernad I & II exploration licenses.
The award of the new Emod V, Pely I and Jaszkiser II licences takes JKX’s production license tally to a total of six within the Hernad exploration areas. The company’s other interests are situated in Ukraine, Russia and Slovakia.
Commenting on the awards, JKX Chief Executive Paul Davies said in a company statement:
"The award of these three additional production licenses completes the process undertaken when JKX took full control of the Hernad licenses. The awards clarify the position for potential farm-ins and we are looking forward to the completion of the farm-out process and renewed activity on our Hungarian licenses during 2016."
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