JKX notches net revenue of USD 196.5 mln in 2009

JKX Oil & Gas (LSE: JKX LN) reported its preliminary 2009 financial and operational results yesterday. The company reported net revenues of USD 196.5 mln (down 5% yoy), profit before tax of USD 119.3 mln (down 6% yoy) and net profit of USD 85.3 mln (down 9% yoy). JKX said that it plans to invest USD 230 mln in its existing asset portfolio in 2010, following its share placement in early 2010 that raised USD 60 mln. JKX also said it plans to significantly increase its production target to 20,000 boepd in 2011.