JKX Oil & Gas restarts in-field drilling and appraisal programme

JKX Oil & Gas is restarting its in-field drilling and appraisal programme on the Novo-Nikolaevskoye Complex in the Ukraine, the company announced Tuesday.

JKX Oil & Gas is restarting its in-field drilling and appraisal programme on the Novo-Nikolaevskoye Complex in the Ukraine, the company announced Tuesday.

The group's Skytop rig will be used on licences at the complex including the Molchanovskoye, Elizavetovskoye and the Zaplavskoye fields.

The rig will first be used at Molchanovskoye for a horizontal recompletion of the M-166 Devonian sandstone oil producing well before moving to the Elizavetovskoye licence to spud the first of a planned five-well development drilling programme.

JKX also plans to drill this year on the Zaplavskoye licence after processing and interpreting the 2012 additional 3D seismic data.

The rig is currently being used on a well for a Ukrainian operator which is expected to be completed this month.

"We are pleased to recommence the in-fill drilling programme on our core Ukrainian production licences, the production from which currently underpins our Group cash flow," said Chief Executive, Dr Paul Davies.

Shares rose 4.31% to 60.50p at 12:21 Tuesday on well above average trading volumes.

RD

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

The rising dollar is proving bad news for most other assets – will it last?
Investment strategy

The rising dollar is proving bad news for most other assets – will it last?

Precious metals, stocks and pretty much every other asset has taken a tumble as the US dollar strengthens. Dominic Frisby looks at how long this trend…
23 Sep 2020
The electric-car bubble could get an awful lot bigger from here
Renewables

The electric-car bubble could get an awful lot bigger from here

The switch to electric cars is driving a huge investment bubble. But that’s not necessarily a bad thing, says John Stepek. Fortunes will be made and l…
24 Sep 2020
Can Rishi Sunak’s winter plan save the UK economy?
UK Economy

Can Rishi Sunak’s winter plan save the UK economy?

With his Winter Economic Plan, chancellor Rishi Sunak is hoping to support the economy through the dark months ahead as restrictions tighten again. Jo…
25 Sep 2020