JKX.L Regulatory News (JKX)

7 Aug 2007 11:04

JKX Oil & Gas PLC07 August 2007 FOR IMMEDIATE RELEASE 7 August 2007 JKX OIL & GAS plc ("JKX") ANNOUNCES UKRAINIAN DRILLING UPDATE JKX Oil & Gas plc ("JKX") announces that it has completed and tested Well I128as part of its ongoing drilling programme at Poltava, Ukraine. The well has beentied back to the Company's production facility via a new 1km flowline. During the testing, Well I128 flowed at a stabilised rate of 1,000 barrels ofoil and 0.3 million cubic feet of gas per day with a wellhead flowing pressureof 140 psi through 72/64 inch choke. Well I128 is a deviated development well and was drilled to a depth of 2,340m inthe south central part of the Ignatovskoye Field. It is completed in 60m ofTournaisian and Devonian sandstones and confirms the extent of the productivesandstone horizons of the central part of the field. The Skytop rig has now moved to the west central part of the Ignatovskoye Field,and is currently drilling Well I129 which is scheduled for completion thismonth. 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