JKX.L Regulatory News (JKX)

31 Aug 2006 09:43

JKX Oil & Gas PLC31 August 2006 FOR IMMEDIATE RELEASE JKX OIL & GAS plc ("JKX") ANNOUNCES UKRAINIAN DRILLING UPDATE JKX Oil & Gas plc ("JKX") announces that it has completed and tested Well M153as part of its ongoing drilling programme at Poltava, Ukraine. During testing, Well M153 flowed at a stabilised rate of 540 barrels of oil perday and 0.9 million cubic feet of gas with a wellhead flowing pressure of 455psi through a 45/64 inch choke. The well has been tied back to the Company'sproduction facility via an 8 km flowline. M153 is a horizontal development well in the northern area of the MolchanovskoyeField. It is designed to enhance recovery from the Devonian reservoir in thearea around the existing vertical Well M28. M28 will be re-completed to producefrom the overlying Tournasian sandstone later in the year. The N75 rig has now moved back to the Rudenkovskoye Field where it will prepareWell R101 for testing a 115m gas bearing interval between 4,095m and 4,210midentified from mud logs. 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. END 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