JKX.L Regulatory News (JKX)

2 Oct 2007 07:00

JKX Oil & Gas PLC02 October 2007 6 CAVENDISH SQUARE LONDON W1G 0PD, ENGLAND, UK Tel: +44 (0)20 7323 4464 Fax: +44 (0)20 7323 5258 Web site: http://www.jkx.co.uk FOR IMMEDIATE RELEASE 2 OCTOBER 2007 JKX OIL & GAS plc ("JKX") ANNOUNCES UKRAINIAN DRILLING UPDATE JKX Oil & Gas plc ("JKX") announces that it has completed and tested Well I129as part of its ongoing drilling programme at Poltava, Ukraine. The well has beentied back to the Company's production facility via a new 1 km flowline. During testing, Well I129 flowed at an average rate of 4.6 million cubic feet ofgas and 180 barrels of condensate per day with a wellhead flowing pressure of830 psi through a 60/64 inch choke. Well I129 is a deviated development well, drilled to a depth of 2,390m andcompleted in 23m of Tournasian sandstones. The well targeted a separate faultblock to the northwest of the successful Well I128 which was completed inAugust. The Skytop 75 rig is now drilling well I131, an appraisal well of theMolchanovskoye Tournasian carbonate discovery. 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: Anthony Cardew / Sofia Rehman Cardew Group 020 7930 0777 This information is provided by RNS The company news service from the London Stock Exchange