JKX.L Regulatory News (JKX)

1 Nov 2006 07:00

JKX Oil & Gas PLC01 November 2006 JKX OIL & GAS PLC ("JKX") ANNOUNCES UKRAINIAN DRILLING UPDATE JKX Oil & Gas plc ("JKX") announces that it has completed and tested Well I125as part of its ongoing drilling programme at Poltava, Ukraine. During testing, Well I125 flowed at a stabilised rate of 425 barrels of oil and0.25 million cubic feet of gas through a 72/64 inch choke, with a wellheadflowing pressure of 125 psi. The well has been tied back to the Company'sproduction facility via a 2 km flowline. Well I125 is located on the southern flank of the Ignatovskoye field and iscompleted in the Visean carbonate reservoir, which is oil bearing at thislocation. Well I125 encountered secondary porosity zones in communication withexisting Well I123 and will accelerate recovery from the oil leg. The Kremco rig has now spudded Well I126, which will drill a reefal featuresimilar to the one successfully targeted by Well I124 earlier in the year. 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: Sofia Rehman Cardew Group 020 7930 0777 This information is provided by RNS The company news service from the London Stock Exchange