JKX Oil Completes I128 Test at Poltava

JKX Oil & Gas says that it has completed and tested Well I128 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 1km flowline.

During the testing, Well I128 flowed at a stabilized rate of 1,000 barrels of oil and 0.3 million cubic feet of gas per day with a wellhead flowing pressure of 140 psi through 72/64 inch choke.

Well I128 is a deviated development well and was drilled to a depth of 2,340m in the south central part of the Ignatovskoye Field. It is completed in 60m of Tournaisian and Devonian sandstones and confirms the extent of the productive sandstone horizons of the central part of the field.

The Skytop rig has now moved to the west central part of the Ignatovskoye Field. It is currently drilling Well I129, which is scheduled for completion this month.

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.