JKX Completes, Tests Well at Poltava

JKX Oil & Gas plc said that it has completed and tested Well M157 as part of its ongoing drilling program at Poltava, Ukraine.

During testing, Well M157 flowed at a stabilized rate of 7.3 million cubic feet of gas and 620 barrels of condensate per day with a wellhead flowing pressure of 2,300 psi through a 27/64 inch choke. The well has been tied back to the Company's production facility via an 8 km flowline.

Well M157 is a vertical well located in the northern area of Molchanovskoye Field and targeted the T2 carbonate reservoir which overlies the main oil bearing Devonian reservoir. The well was completed in 140 m of Tournasian carbonate as an open hole producer, and acidized using coil tubing prior to testing.

The N75 rig has now spudded Well R102 in the southern part of Rudenkovskoye Field.

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.