JKX Oil & Gas Ties Back Well 161 to Existing Production Facilities

JKX Oil & Gas has completed and tested Well M161 as part of part of its ongoing drilling program at Poltava, Ukraine.

Following acidization, Well M161 flowed at an average rate of 1.0 million cubic feet of gas and 250 barrels of condensate per day with a wellhead flowing pressure of 270 psi through a 42 /64 inch choke. It has been tied back to the Company's production facility via a 6 km flowline. Well M161 is a vertical well completed in the Tournasian carbonate and was drilled as a further appraisal of the Tournasian carbonate reservoir to the northwest of the Molchanovskoye Field.

The Kremco 900 rig has now been moved to the central area of the Molchanovskoye Field, and will spud Well M205 in early October, following a scheduled period of routine maintenance. The Skytop 75 rig is now drilling deviated Well I131, appraising the Tournasian carbonate reservoir to the northwest of Well M161.

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.