JKX.L Regulatory News (JKX)

1 Feb 2008 09:47

JKX Oil & Gas PLC01 February 2008 6 Cavendish Square, London W1G 0PD, England, UKTel: +44 (0)20 7323 4464 Fax: +44 (0)20 7323 5258Web site: http://www.jkx.co.uk FOR IMMEDIATE RELEASE 1 FEBRUARY 2008 JKX OIL & GAS plc ("JKX") ANNOUNCES UKRAINIAN DRILLING UPDATE JKX Oil & Gas plc ("JKX") announces that it has completed Well M159 as part ofits ongoing drilling programme at Poltava, Ukraine. During testing, Well M159 flowed at a stabilised rate of 1.4 million cubic feetof gas and 100 barrels of condensate per day with a wellhead flowing pressure of400 psi through a 34/64 inch choke. The well has been tied back to the Company'sproduction facility via a 6 km flowline. Well M159 was drilled to a depth of 2,547m and penetrated 88m ofhydrocarbon-bearing Tournaisian carbonate. It is located in the north area ofthe Molchanovskoye Field and was drilled as an in-fill well between productionWells M155 and M157 which were brought on-stream in 2006. JKX Oil & Gas plc is an exploration and production company listed on the LondonStock Exchange. The Company has license interests in Ukraine, Russia, Georgia,Bulgaria, Turkey, Hungary, Italy and the United States. ENDS For further information please contact: Sofia Rehman Cardew Group 020 7930 0777 This information is provided by RNS The company news service from the London Stock Exchange