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Robert Horton, ousted as chief executive of BP three years ago, will this week make a comeback to the oil industry as chairman of JKX Oil & Gas.

The company, which claims to be the only Western oil concern working in the Ukraine, Georgia and Dagestan in southern Russia, will on Thursday unveil the pricing for its pounds 120m stock market flotation. Mr Horton, currently chairman of Railtrack, joined JKX a month ago along with David Boyd, former managing director of Goal Petroleum.

Photograph: Tom Pilston