JKX.L Regulatory News (JKX)

27 Sep 2007 09:30

JKX Oil & Gas PLC27 September 2007 FOR IMMEDIATE RELEASE 27 SEPTEMBER 2007 JKX OIL & GAS plc ("JKX") ANNOUNCES UKRAINIAN DRILLING UPDATE JKX Oil & Gas plc ("JKX") announces that it has completed and tested Well M161as part of part of its ongoing drilling programme at Poltava, Ukraine. Following acidisation, Well M161 flowed at an average rate of 1.0 million cubicfeet of gas and 250 barrels of condensate per day with a wellhead flowingpressure of 270 psi through a 42 /64 inch choke. It has been tied back to theCompany's production facility via a 6 km flowline. Well M161 is a vertical wellcompleted in the Tournasian carbonate and was drilled as a further appraisal ofthe Tournasian carbonate reservoir to the northwest of the Molchanovskoye Field. The Kremco 900 rig has now been moved to the central area of the MolchanovskoyeField, and will spud Well M205 in early October, following a scheduled period ofroutine 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 LondonStock Exchange. The Company has license interests in Ukraine, Georgia, 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