RusEnergy

24 July 2007 - Upstream OnLine - UK-based energy explorer JKX Oil & Gas said today it had agreed to buy a Russian gas field for $50 million. JKX said independent oil and gas consultants Miller and Lents had estimated that remaining proved gas reserves in the field were 114 billion cubic feet and proved and probable gas reserves were 216 bcf. JKX said the deal would increase its proved and probable oil and gas reserves by approximately 85%.