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Update on Well 5 sidetrack in Russia

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RNS Number : 4289Y
JKX Oil & Gas PLC
09 May 2019
 

 

LEI: 213800AS2I1XUAGQ6F27

 

9th May 2019

JKX Oil & Gas plc

("JKX", the "Company" or the "Group")

Update on Well 5 sidetrack in Russia

 

Of the 972m of fish that was in the well 969m has been successfully recovered to surface or milled, leaving 3m remaining in the sidetrack. Having assessed the operational risks we have decided to suspend fishing and will drill a second sidetrack instead. The rig operator has not been charging us since the beginning of March and will not do so until the second sidetrack is drilled. The drilling of the second sidetrack is expected to be completed in the first week of June.

 

 

This announcement contains inside information as defined in EU Regulation No. 596/2014 and is in accordance with the Company's obligations under Article 17 of that Regulation.

 

ENDS

JKX Oil & Gas plc                              +44 (0) 20 7323 4464

Ben Fraser, CFO

 

 

EM Communications                         +44 (0) 20 7002 7860

Stuart Leasor, Jeroen van de Crommenacker


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Market: LSE
Market Cap: £46.54 m
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