JKX Completes Well, Gains Yards in Ukrainian Drilling Program

JKX Oil and Gas has completed a well, gaining excellent ground in its Ukranian drilling program. During testing, Well M159 flowed at a stabilised rate of 1.4 million cubic feet of gas and 100 barrels of condensate per day with a wellhead flowing pressure of 400 psi through a 34/64 inch choke. The well has been tied back to the Company's production facility via a 6 km flowline.

Well M159 was drilled to a depth of 2,547m and penetrated 88m of hydrocarbon-bearing Tournaisian carbonate. It is located in the north area of the Molchanovskoye Field and was drilled as an in-fill well between production Wells M155 and M157 which were brought on-stream in 2006.