JKX Oil & Gas Completes Testing at Well M153 in Ukraine

Poltava, Ukraine
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JKX Oil & Gas has completed and tested Well M153 as part of its ongoing drilling program at Poltava, Ukraine.

During testing, Well M153 flowed at a stabilized rate of 540 barrels of oil per day and 0.9 million cubic feet of gas with a wellhead flowing pressure of 455 psi through a 45/64 inch choke. The well has been tied back to the Company's production facility via an 8 km flowline.

M153 is a horizontal development well in the northern area of the Molchanovskoye Field. It is designed to enhance recovery from the Devonian reservoir in the area around the existing vertical Well M28. M28 will be re-completed to produce from the overlying Tournasian sandstone later in the year.

The N75 rig has now moved back to the Rudenkovskoye Field where it will prepare Well R101 for testing a 115m gas bearing interval between 4,095m and 4,210m identified from mud logs.


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