JKX Ties Back Poltava Well

JKX Oil & Gas plc said that it has completed and tested Well I126 as part of its ongoing drilling program at Poltava, Ukraine. The well has been tied back to the Company's production facility via a new 3 km flowline.

During testing, Well I126 flowed at a stabilized rate of 1,850 barrels of oil and 3.25 million cubic feet of gas per day with a wellhead flowing pressure of 1,400 psi through a 32/64 inch choke. Well I126 is a vertical development well located on the southern flank of the Ignatovskoye Field and tested a reefal feature in the Visean Carbonate adjacent to a similar feature successfully being produced by Well I124. Both wells are located some distance from the main carbonate build-up that forms the primary gas reservoir in the field. The well is producing from primary and secondary porosity zones within the 77m of Visean Carbonate penetrated.

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