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JKX Oil-Gas expands its Hungary oil licenses

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London stock exchange listed oil exploration company JKX Oil & Gas PLC reported it has secured a further three 35-year production licences within its Hernad 1 and 2 exploration areas in Hungary.

The new licence awards, covering the Emod V, Pely I and Jaszkiser I licences, mean the group now owns six licences within the Hernad area.

“The award of these three additional production licences completes the process undertaken when JKX took full control of the Hernad licences. The awards clarify the position for potential farminees and we are looking forward to the completion of the farm-out process and renewed activity on our Hungarian licences during 2016,” said Chief Executive Paul Davies.

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