JKX Oil & Gas Announces Ukrainian Drilling Updates

JKX Oil & Gas plc (“JKX”) announces that it has completed and tested Well I129 as part of its ongoing drilling programme at Poltava, Ukraine. The well has been tied back to the Company’s production facility via a new 1 km flowline. During testing, Well I129 flowed at an average rate of 4.6 million cubic feet of gas and 180 barrels of condensate per day with a wellhead flowing pressure of 830 psi through a 60/64 inch choke.

Well I129 is a deviated development well, drilled to a depth of 2,390m and completed in 23m of Tournasian sandstones. The well targeted a separate fault block to the northwest of the successful Well I128 which was completed in August. The Skytop 75 rig is now drilling well I131, an appraisal well of the Molchanovskoye Tournasian carbonate discovery.

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