TIDMJKX
RNS Number : 5787P
JKX Oil & Gas PLC
30 May 2018
30 May 2018
JKX Oil & Gas plc ("JKX" or the "Company")
Consolidated report on payments to governments
JKX Oil and Gas plc presents below its consolidated report on
payments to governments for the year ended 31 December 2017, for
activities related to exploration, development and extraction of
oil and gas resources.
The Company has prepared the following consolidated report in
accordance with DTR 4.3A of the Financial Conduct Authority
Disclosure and Transparency Rules and in compliance with the UK's
Reports on Payments to Governments Regulations 2014 (SI 2014/3209),
as amended by the Reports on Payments to Governments (Amendment)
Regulations 2015 (SI 2015/1928).
Basis of preparation
The Company discloses below payments made to governments by the
Company's subsidiaries involved in extractive activities. The term
'government' includes any national, regional or local authority of
a country, and includes a department, agency or entity that is a
subsidiary of a government or entity that is controlled by such
authority.
Reporting currency
Where payments have been made in currencies other than the
reporting currency (US$), the exchange rate existing at the time
the payment is made has been used.
Payment types disclosed at project level
"Project" is defined as "operational activities governed by a
single contract, license, lease, concession or similar legal
agreements and form the basis for payment liabilities with a
government". Where multiple such agreements are substantially
interconnected, this was considered a project for the purpose of
this report.
The payments are presented on a cash basis, net of any interest
and penalties on late tax payments or on underpaid tax.
There were no payments in kind made to a Government during the
year.
The following payment types are disclosed for legal entities
involved in extractive activities for the year ended 31 December
2017:
Corporate income taxes
Payments to governments based on taxable profits under
legislated income tax rules.
Production taxes
Payments to governments in relation to revenue or production
generated under licence agreements.
Fees
Payments to governments in the form of fees include licence
fees.
Infrastructure improvements
Such payments correspond to payments made for infrastructure
(for example buildings) that forms part of the fundamental
facilities and systems serving a community or area. Such payments
are included in the Report regardless of whether or not these
payments constitute a contractual obligation.
Excluded amounts
Taxes levied on consumption such as value added taxes, personal
income taxes, sales taxes, property and environmental taxes have
not been included in this report.
Payments summary
Payments to governments made during the year ended 31 December
2017:
Production Corporate Infrastructure Fees Total
taxes income improvements
taxes
Governments $'000 $'000 $'000 $'000 $'000
----------- ---------- --------------- ----------------- -----------------
Ukraine
----------- ---------- --------------- ----------------- -----------------
State treasury:
State budget 15,030 2,934 - - 17,964
----------- ---------- --------------- ----------------- -----------------
State treasury:
Local budget - - 142 - 142
----------- ---------- --------------- ----------------- -----------------
Total Ukraine 15,030 2,934 142 - 18,106
----------- ---------- --------------- ----------------- -----------------
Russia
----------- ---------- --------------- ----------------- -----------------
State treasury:
State budget 1,810 - - - 1,810
----------- ---------- --------------- ----------------- -----------------
Total Russia 1,810 - - - 1,810
----------- ---------- --------------- ----------------- -----------------
Hungary
----------- ---------- --------------- ----------------- -----------------
State treasury:
State budget 213 - - - 213
----------- ---------- --------------- ----------------- -----------------
Total Hungary 213 - - - 213
----------- ---------- --------------- ----------------- -----------------
Slovakia
----------- ---------- --------------- ----------------- -----------------
State treasury:
State budget - - - 56 56
----------- ---------- --------------- ----------------- -----------------
Total Slovakia - - - 56 56
----------- ---------- --------------- ----------------- -----------------
Grand Total 17,053 2,934 142 56 20,185
----------- ---------- --------------- ----------------- -----------------
Payments to governments by project type made during the year
ended 31 December 2017:
Production Corporate Infrastructure Fees Total
taxes income improvements
taxes
$'000 $'000 $'000 $'000
----------- ---------- --------------- -------------------- ---------------------
Ukraine
----------- ---------- --------------- -------------------- ---------------------
Novomykolaivske
Complex 10,335 - 114 - 10,449
----------- ---------- --------------- -------------------- ---------------------
Elyzavetivske
field 4,695 - 28 - 4,723
----------- ---------- --------------- -------------------- ---------------------
Payment at an
entity level - 2,934 - - 2,934
----------- ---------- --------------- -------------------- ---------------------
Total Ukraine 15,030 2,934 142 - 18,106
----------- ---------- --------------- -------------------- ---------------------
Russia - Koshekhablskoye
Field 1,810 - - - 1,810
----------- ---------- --------------- -------------------- ---------------------
Hungary - Hajdunanas
IV mining plot 213 - - - 213
----------- ---------- --------------- -------------------- ---------------------
Slovakia - exploration - - - 56 56
----------- ---------- --------------- -------------------- ---------------------
Grand Total 17,053 2,934 142 56 20,185
----------- ---------- --------------- -------------------- ---------------------
ENDS
JKX Oil & Gas plc +44 (0) 20 7323 4464
Ben Fraser, Chief Financial Officer
EM Communications +44 (0) 20 3709 5711
Stuart Leasor, Jeroen van de Crommenacker
This information is provided by RNS, the news service of the
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Authority to act as a Primary Information Provider in the United
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of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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