OREANDA-NEWS. February 19, 2010. According to the Poltava Oil and Gas Company's (POGC) Technical Director Rikhard Bielyi, the Company intends to build a factory for production of liquefied gas, specifically a technical mix of propane and butane, with a capacity of 80 tons per day by July 2011. According to the Technical Director, the products of the new factory will be sold wholesale through auctions. The construction of the factory will cost USD 14 million. The launch of the factory is planned for 2Q 2011. The POGC is to select equipment for the factory and order it from Canada before the end of this year and to place orders with Ukrainian manufacturers to build facilities for storage and shipment of finished products.

Millennium Capital: this news is strongly positive for JKX Oil&Gas plc , the owner of Poltava Oil and Gas Company. Its investment policies for mining development and increasing of output capacities permits the Company to improve its position at the Ukrainian market and to increase sales in mid term.