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Russia's Proxima considering potential offer for JKX Oil

Reuters - UK Focus

Feb 5 (Reuters) - Russian investment firm Proxima Capital Group said it was in "very early" stages of considering a potential offer for London-listed JKX Oil & Gas Plc (LSE: JKX.L - news) .

JKX's shares, which were up about 10 percent before the announcement, surged as much as 46 percent.

Proxima said it planned to approach JKX's board with its proposals.

Proxima has until March 5 to announce if it intends to make a firm offer for JKX.

JKX shares were up 40.5 percent at 26 pence on the London Stock Exchange at 1239 GMT. (Reporting by Abhiram Nandakumar in Bengaluru; Editing by Kirti Pandey)