JKX Tested and Completed Well M158

JKX Oil & Gas has completed and tested Well M158 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 7 km flowline.

During testing Well M158 flowed at a stabilized rate of 1.3 million cubic feet of gas and 45 barrels of condensate per day with a wellhead flowing pressure of 230 psi through a 50/64-inch choke.

Well M158 is a vertical well in the northern area of the Molchanovskoye field. It was drilled to a depth of 2,669 meters and completed in 20 meters of Tournaisian carbonates and Tournaisian sandstones.

The Kremco 900 rig has been moved to the southern part of the Ignatovskoye Field, and is currently drilling Well I130, which is scheduled for completion next 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, Russia, Italy, Bulgaria, Turkey and the United States.