JKX Reaches TD at Bulgaria Well

JKX announced that the Staro Oryahovo South R-01 exploration well, on the B1 Golitza license (1,149 sq km) in east Bulgaria, has been drilled to a total depth of 1,875m. Gas shows were encountered during drilling of the target Avren Formation submarine fan sandstones, but subsequent log analysis demonstrated that the target was water wet. The well was drilled on time (29 days) and under budget. It is currently being plugged and abandoned.

The rig will now be moved to the Shkorpilovtci South West R-01 location to test an amplitude supported channel sand complex of Late Eocene age. The well is expected to take 15 days to drill to a TD of 875m. Prospective resources for this feature are estimated at 20-30 BCF.

JKX (40%) operates the Golitza B1 license with co-venturers Balkan Explorers (30%) and Sorgenia (30%).

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