JKX.L Regulatory News (JKX)

24 Feb 2006 07:00

JKX Oil & Gas PLC24 February 2006 FOR IMMEDIATE RELEASE 24 February 2006 JKX OIL & GAS plc ANNOUNCES UKRAINIAN DRILLING UPDATE JKX Oil & Gas plc ("JKX") announces that it has spudded Well I124 in theIgnatovskoye Field, onshore Ukraine. Well I124 will be a vertical well andtarget oil in a small reefal feature on the southern flank of the main ViseanCarbonate structure. Well I124 will be drilled to a maximum depth of 2,370m, using the Kremco 900 rigmobilised from Germany in December 2005. Drilling is scheduled to be completedin 30 days. Since the beginning of the year, the Kremco rig has worked over WellI105, and has successfully installed a rod pump in Well M31 on theMolchanovskoye Field. JKX Oil & Gas plc is an oil and gas exploration and production company listed onthe London Stock Exchange. The company has license interests in Ukraine,Georgia, 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