JKX Oil & Gas Drills Duster in Ukraine

JKX Oil & Gas has completed drilling its first exploration well on the 95.7 sq km Zaplavskoye exploration license, adjacent to its Poltava production licenses. Well Z1 did not encounter hydrocarbons in the targeted Devonian sandstones and the well has been plugged and abandoned.

The Zaplavskoye prospect was identified as a four-way dip closed feature from reprocessed 2D seismic shot during the 1980's. The prospect was targeted by the vertical Well Z1 at a predicted depth of 2,500m.

During drilling, Well Z1 penetrated thicker than expected Tournasian carbonates from 2,120m which extended to a depth of 2,950m where Devonian sandstones began to be encountered at a much deeper level than anticipated. The Devonian sandstones extend to at least 3,174m, the depth at which drilling was discontinued. Logs and a VSP survey were run prior to abandoning the well. The logs show the properties of the sandstones to be variable, but with some intervals having good porosities of up to 15%. The logs confirmed the sandstones to be water bearing.

Preliminary structural interpretation using the newly acquired well data suggests that Well Z1 may have been drilled on the flank of the structure. The full set of 92 km of existing 2D seismic data is now being reprocessed and reinterpreted, prior to deciding on the next phase of exploration activity on the license.

The Kremco rig has now moved to the Ignatovskoye Field where it will drill Well I125, which will target oil in the Visean Carbonate.

JKX Oil & Gas plc is an exploration and production company listed on the London Stock Exchange. The Company has license interests in Ukraine, Georgia, Italy, Bulgaria, Turkey and the United States.