JKX Drills Successful Appraisal Well in Ukraine

Eastern Europe-focused JKX Oil & Gas reported Monday that it has successfully completed and tested appraisal well Z-05 on the Zaplavskoye exploration license at Poltava, Ukraine.

JKX said that, following clean up, the well flowed at a stabilized rate of 4.6 million cubic feet of gas per day and 328 barrels of condensate per day through a 50/64-inch choke with a flowing wellhead pressure of 652 pounds per square inch. The firm added that the well is now flowing to its production facility.

JKX said appraisal well Z-05 has followed its successful exploration well Z-04, which was drilled in 2013, and a 3D seismic survey conducted earlier this year over an extension to the Zaplavskoye exploration license. Data collected from both wells will be used to help select the location for a third well in the area.

JKX Chief Executive Dr Paul Davies commented in a company statement:

"The encouraging well result supports our continuing appraisal of this part of the Zaplavskoye licence. Furthermore, the rich gas in the area provides a higher than normal propane and butane yield which enhances the overall LPG production at our Poltava facility."