04/07/2007
Ukraine-focused JKX Oil & Gas says ‘no comment’ to suggestions it is looking at Regal Petroleum.
Regal, whose dry well at Kallirachi in Greece knocked its shares from 500p in 2005 to 34.5p last year, has been attracting attention because of its assets in Ukraine, where it is estimated to have the equivalent of 180 million barrels of oil. Analysts say these would make a good fit with JKX.
Regal shares have now recovered to 248.75p, up 10.75p today. The appeal is speculative.
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