10th Jan 2008 07:00
JKX Oil & Gas PLC10 January 2008 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 10 JANUARY 2008 JKX Oil & GAS PLC ("JKX") ANNOUNCES FARM-IN TO EXPLORATION LICENCES, SOUTH EAST TURKEY JKX Oil & Gas plc ("JKX") announces that it has farmed into two explorationlicences in the Bismil South area of south east Turkey. The licences cover atotal of 590 sq km in the Zagros Foldbelt petroleum province. JKX has acquired a20% interest in the licences from the operator, Arar Petrol Ve Gaz Aup AS("ARAR"). ARAR is a private Turkish exploration and production company and nowholds 55% of the licence interest. The South East Zagros Foldbelt is the main exploration and production area inTurkey. The Bismil South licences are situated immediately south of the giantBati Raman oilfield which produces from Cretaceous age carbonates of the MardinGroup. JKX also holds a 30% interest in the adjacent Karakilise licencesoperated by Aladdin Middle East Inc. JKX anticipates spending approximately US$2.5 million through the first half of2008, which includes its share of the ongoing exploration programme and acontribution to exploration costs to date. The forward exploration programmecomprises acquisition of 120 km of new 2D seismic data and drilling Well Koyunlu2, an appraisal to the 2006 Cretaceous discovery Well Koyunlu 1. JKX Oil & Gas plc is an exploration and production company listed on the LondonStock Exchange. The Company has license interests in Ukraine, Russia, Georgia,Bulgaria, Turkey, Hungary, Italy 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 ExchangeRelated Shares:
JKX.L