18th Sep 2009 07:00
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
18 September 2009
JKX OIL & GAS plc ("JKX")
ANNOUNCES
HUNGARIAN GAS DISCOVERY
JKX Oil & Gas plc ("JKX") announces the successful testing of exploration well Gorbehaza-1 in the Nyirseg licence located in Hungary's Pannonian Basin.
The well was drilled vertically to a total depth of 1,300m and encountered two gas bearing zones within the Miocene Pannonian interval between 970m and 1,025m. A production test was completed in a 3m perforated interval of the lower zone and flowed 3.7 MMcfd of gas and 20 bpd of condensate through a 10mm choke at a flowing wellhead pressure of 1,190 psi. The well is producing from a small accumulation, the size of which will be established during the initial production period.
The Gorbehaza -1 well is the first well to be drilled within the 120 sq km part of the Nyírseg licence in which JKX holds a 33.33% interest. Three further leads have been identified to date from the 3D seismic data acquired in December 2008. .
The well will now be completed and a 2.5km flow line laid to the Hajdunanas Gas Production Facility from which JKX is currently delivering sales gas from the Hajdunanas Field (JKX: 50%).
JKX Oil & Gas plc is an exploration and production company listed on the London Stock Exchange. The Company has licence interests in Ukraine, Russia, Georgia, Bulgaria, Hungary and Slovakia.
ENDS
For further information please contact:
|
Catherine Maitland / Matthew Law |
Cardew Group |
020 7930 0777 |
Related Shares:
JKX.L