OREANDA-NEWS. On 28 August 2009 was announced, that JKX Oil & Gas released its 1H09 interim financial and operation results this morning. The company reported total revenues of USD 78.6 mln, down 33% yoy as a result of a 30% fall in oil production and significant decline in world oil prices. JKX’s operating profit was USD 44.5 mln, down 45.9% yoy, and profit after tax was USD 31.8 mln, down 49% yoy. JKX’s gas revenues amounted to USD 53.6 mln (vs. USD 40.8 mln in 1H08) and oil revenues to USD 24.2 mln (vs. 75.1 mln in 1H08). JKX reported progress on its exploration programs, and said its current production exceeds 13,000 boepd, an increase of about 30% above the average for the period (10,191 boepd).

Concorde Capital: The company's financial and operational results are in general in line with our expectations. In our view, improvements are likely in 2H09 due to growing oil and gas prices.

Concorde Capital is a full service investment bank operating on the Ukrainian, Russian and CIS markets. In 2007 Concorde Capital’s analytical team was recognized as the Top Team covering Ukraine by Thomson Extel's Pan European Survey. Senior Analyst Alexander Paraschiy was recognized as the Leading Pan-European Investment Analyst – European Emerging Markets. Concorde Capital is a leader when it comes to private placements and M&A deals. Concorde Capital’s sale of a stake in Electron Bank to Volksbank International AG was named the Best Ukrainian M&A deal of the year 2007 by the Adam Smith Institute.