JKX reassures on production targets

OIL and gas producer JKX Oil and Gas said it was on track to hit its key production target this year, despite admitting that last year had proved “challenging” for the group.

The FTSE 250 listed company said it remains on target to meet its 20,000 barrels of oil equivalent per day (boepd) during 2011, after saying it was positioned to deliver a step-change in performance during the coming 12 months.

Shares in the group closed down 13.5p at 317.9p after the update.