Eastern Europe-focused junior energy firm JKX Oil & Gas said that a local police investigation into its Ukrainian subsidiary, Poltava Petroleum Company, is continuing. The company said it is continuing to receive information requests from local police in connection with a criminal investigation of alleged misappropriation of funds linked to PPC's activities, following police searches of PPC offices and the homes of two of its executives on June 14.
JKX said that PPC is cooperating with the investigation, although the scope of the investigation "appears to have broadened form the original search warrant".
JKX has now referred the matter to the British and U.S. embassies in Kiev and has asked for assistance in engaging with the relevant authorities to resolve the situation.
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