2014-08-05 18:10:00
JKX WILL PROTECT
JKX Oil & Gas said it would be taking "operational and financial measures" to protect its interests after the Ukrainian government imposed emergency laws doubling the rate of tax on gas production in the country to 55 per cent.
Shares in the London-listed explorer and producer, which has assets in both Ukraine and Russia, fell by as much as 16 per cent to 34p on Monday from their Friday close of 40.25p, before recovering ground to trade at 37p by late morning.
The warning over the impact of the tax rise on its gas output, comes amid continuing clashes between Ukrainian government forces and pro-Russia separatists…
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