UK-based oil and gas explorer JKX Oil & Gas posted a 6% rise in output last year and aims to double production by 2011.
The company said it plans to invest $230m in its Russian and Ukrainian operations in 2010, following a fundraising in January.
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Average oil and gas production for 2009 stood at 11,665boepd compared with 11,012boepd the previous year.
The company aims to increase its production to 20,000boepd during 2011.
JKX reported a pretax profit for 2009 of $119.3m, compared with $127.6m in 2008.
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