JKX Oil & Gas plc Half-yearly report 2014 Maintaining a stable business platform in volatile emerging markets
In this report Highlights Chairmans Chief Executives statement statement 1-2 3-4 5-6 This report is divided between the strategic reports (green pages) and more detailed reviews and reports (in black). This symbol will return you…
Operational Financial review Financial Other review and principal risks information information 7-10 11-19 20-36 37-38 Overview 7 Financial performance 11 Statement of Directors Glossary 37 responsibilities 20 Asset life cycle 8…
Highlights Chairmans Chief Executives statement statement 1-2 3-4 5-6 Chairmans statement Performance In the first half of the year, increased Your Company continues to focus on the production has been maintained at more than…
Operational Financial review Financial Other review and principal risks information information 7-10 11-19 20-36 37-38 Earnings per share (cents) 14% 4.95 4.34 4.95 cents 2012 2013 2014 (2.95) exchange rate…
Highlights Chairmans Chief Executives statement statement 1-2 3-4 5-6 Chief Executives statement Oil realisations strengthened in the period averaging 92.39/bbl (2013: The first half of the year saw a continuing 89.45/bbl).…
Operational Financial review Financial Other review and principal risks information information 7-10 11-19 20-36 37-38 Production (boepd) 10,126 9,040 7,481 12% 10,126 boepd 2012 2013 2014 appraisal well to the…
Highlights Chairmans Chief Executives statement statement 1-2 3-4 5-6 Operational review Appraisal well IG-141 was drilled to a depth of 2,802m and targeted the Devonian sandstone in a downthrown fault block on the northern…
Operational Financial review Financial Other review and principal risks information information 7-10 11-19 20-36 37-38 Asset life cycle Licence area Country Exploration Appraisal Development Production UKR AINE Ignatovskoye…
Highlights Chairmans Chief Executives statement statement 1-2 3-4 5-6 Operational review The EPF is being upgraded to Russia The plant performance has been double its capacity from 15 MMcfd reviewed and plans have been to 30…
Operational Financial review Financial Other review and principal risks information information 7-10 11-19 20-36 37-38 Hernad licences Turkeve IV Mining Plot operator, the Cierne-1 exploration well has been deferred and a…
Highlights Chairmans Chief Executives statement statement 1-2 3-4 5-6 Financial performance First half Second half First half 2014 2013 2013 PRODUCTION SUMMARY Production Oil (Mbbl) 190 237 257 Gas (Bcf) 9.9 10.1 8.3 Oil…
Operational Financial review and Financial Other review principal risks information information 7-10 11-19 20-36 37-38 First half Second half First half 2014 2013 2013 Earnings Net profit/(loss) (m) 8.5 (1.0) 7.5 Net profit…
Highlights Chairmans Chief Executives statement statement 1-2 3-4 5-6 Financial review 89.45/bbl), in line with trends in international oil prices; however, this Our on-going investment programme and was not sufficient to…
Operational Financial review and Financial Other review principal risks information information 7-10 11-19 20-36 37-38 Profit for the period (m) 12.0 11.2 10.0 8.5 8.0 7.5 6.0 4.3 4.0 2.8 2.0 0.3 0.0 -2.0 (2.7)…
Highlights Chairmans Chief Executives statement statement 1-2 3-4 5-6 Financial review Revenue (m) Other taxation Ukraine The royalties and rental costs regime in Ukraine changed to a single 103.0 production tax system for oil…
Operational Financial review and Financial Other review principal risks information information 7-10 11-19 20-36 37-38 Production costs ( per boe) a reduction in capital investment spend in Russia. Our Russian capex during the…
Highlights Chairmans Chief Executives statement statement 1-2 3-4 5-6 Financial review requirements of our Russian project, 2018. The bonds have an annual In Russia, there was much the Groups liquidity position has coupon of 8 per…
Highlights Chairmans Chief Executives statement statement 1-2 3-4 5-6 Principal risks and uncertainties April and increases of 15% and 3% in of their status regarding a number of Health, Safety and Environment July and August…
Operational Financial review Financial Other review and principal risks information information 7-10 11-19 20-36 37-38 Statement of Directors responsibilities The Directors confirm that, to the best of their knowledge, this…
Highlights Chairmans Chief Executives statement statement 1-2 3-4 5-6 Independent review report to JKX Oil & Gas plc Report on the condensed consolidated interim financial statements Our conclusion primarily of persons responsible…
Operational Financial review Financial Other review and principal risks information information 7-10 11-19 20-36 37-38 Financial statements Condensed consolidated income statement Six months to Six months to Year to 30 June 2014…
Highlights Chairmans Chief Executives statement statement 1-2 3-4 5-6 Financial statements Condensed consolidated statement of financial position As at As at As at 30 June 2014 30 June 2013 31 Dec 2013 (unaudited) (unaudited)…
Operational Financial review Financial Other review and principal risks information information 7-10 11-19 20-36 37-38 Condensed consolidated statement of changes in equity (unaudited) Attributable to owners of the parent…
Highlights Chairmans Chief Executives statement statement 1-2 3-4 5-6 Financial statements Condensed consolidated statement of cash flows Six months to Six months to Year to 30 June 2014 30 June 2013 31 Dec 2013 (unaudited)…
Highlights Chairmans Chief Executives statement statement 1-2 3-4 5-6 Notes to the interim financial information 4. Segmental analysis The Group has one single class of business, being the exploration for, appraisal, development and…
Operational Financial review Financial Other review and principal risks information information 7-10 11-19 20-36 37-38 UK Ukraine Russia Rest of World Sub total Eliminations Total First half 2013 000 000 000 000 000 000 000…
Highlights Chairmans Chief Executives statement statement 1-2 3-4 5-6 Notes to the interim financial information successful in achieving a 4.2% increase in the gas sales price from our buyer. This is equivalent to the increase in…
Operational Financial review Financial Other review and principal risks information information 7-10 11-19 20-36 37-38 Cash alternative amount At the option of the Company, the conversion notice in respect of the Bonds can be…
Highlights Chairmans Chief Executives statement statement 1-2 3-4 5-6 Notes to the interim financial information 11. Financial instruments Fair values of financial assets and financial liabilities Group Set out below is a comparison…
Operational Financial review Financial Other review and principal risks information information 7-10 11-19 20-36 37-38 Capital management Group The Groups policy as to the level of equity capital and reserves is to ensure that it…
Highlights Chairmans Chief Executives statement statement 1-2 3-4 5-6 Notes to the interim financial information Interest rate risk profile of financial assets and liabilities Group The Group is exposed to interest rate risk…
Operational Financial review Financial Other review and principal risks information information 7-10 11-19 20-36 37-38 14. Provisions 30 June 30 June 31 December 2014 2013 2013 000 000 000 Provision for site restoration 4,025…
Operational Financial review Financial Other review and principal risks information information 7-10 11-19 20-36 37-38 18. Reconciliation of profit from operations to net cash generated from operations Six months to Six months to…
Highlights Chairmans Chief Executives statement statement 1-2 3-4 5-6 Other information Glossary Directors and advisers 2P reserves Proved plus probable Directors 3P reserves Proved, probable and possible Nigel Moore Dr Paul…
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