JKX secures USD 50 mln in financing for Russian project
20 June 2011
JKX Oil & Gas (LSE: JKX LN) secured USD 50 mln in financing from Credit Suisse International for capital expenditures, according to an announcement on the London Stock Exchange on Friday. The funds will be used for initiating a project in Southern Russia in 3Q11. In Ukraine, JKX is represented by the Poltava Petroleum Company, the largest non-state producer of oil and gas in the country. Ukrainian businessman Igor Kolomoyskiy owns 27.06% of JKX shares.
