16th Apr 2007 10:10
JKX Oil & Gas PLC16 April 2007 JKX OIL & GAS plc ("JKX") ANNOUNCES SPUDDING OF WELL GOLITZA 1, ONSHORE BULGARIA JKX Oil & Gas plc ("JKX") announces that it has spudded Well Golitza1 in its BGolitza exploration permit, onshore Bulgaria. Well Golitza1 will target a large tilted fault block with potential reservoirsin Jurassic sands, Triassic limestones and Triassic sands at depths of up to4,900m. The structure was confirmed by the 2D seismic acquired by the Company inlate 2005 which used sophisticated processing to image the true structurebeneath the thrust. The well is designed to be near vertical, and scheduled to reach the 4,900mtarget depth within 120 days. It will be drilled using a 2,000 HP rig which hasbeen mobilised from Romania. The B Golitza permit sits on the southern edge of the Moesian Platform where theMiocene age Balkan Thrust Front strikes east-west across Bulgaria. A number ofwells have been drilled in the area but none penetrated the target formations ina comparable structural setting. JKX has a 50% interest in the B Golitza exploration permit through its whollyowned subsidiary JKX Bulgaria Ltd, which is the designated operator. Theremaining 50% is held by Balkan Explorers Bulgaria Limited, a wholly ownedsubsidiary of Aurelian Oil & Gas PLC. JKX Oil & Gas plc is an exploration and production company listed on the LondonStock Exchange. The Company has licence interests in Ukraine, Georgia, Italy,Bulgaria, Turkey and the United States. ENDS Press Enquiries: 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