JKX.L Regulatory News (JKX)

21 Aug 2007 15:51

JKX Oil & Gas PLC21 August 2007 FOR IMMEDIATE RELEASE 21 AUGUST 2007 JKX OIL & GAS plc ("JKX") ANNOUNCES UKRAINIAN DRILLING UPDATE JKX Oil & Gas plc ("JKX") announces that it has completed and tested Well M158as part of its ongoing drilling programme at Poltava, Ukraine. The well has beentied back to the Company's production facility via a new 7 km flowline. During testing Well M158 flowed at a stabilised rate of 1.3 million cubic feetof gas and 45 barrels of condensate per day with a wellhead flowing pressure of230 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 metres and completed in 20 metres ofTournaisian carbonates and Tournaisian sandstones. The Kremco 900 rig has been moved to the southern part of the IgnatovskoyeField, and is currently drilling Well I130 which is scheduled for completionnext month. JKX Oil & Gas plc is an exploration and production company listed on the LondonStock Exchange. The Company has license interests in Ukraine, Georgia, Russia,Italy, Bulgaria, Turkey and the United States. ENDS For further information please contact: Anthony Cardew / Sofia Rehman Cardew Group 020 7930 0777 This information is provided by RNS The company news service from the London Stock Exchange