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JKX publishes results of drilled Ign-149 well on London Stock Exchange

June 4, London – JKX Oil & Gas plc, the holding company of JV Poltava Gas and Oil Company (hereinafter – JV PPC) published the results on the drilled IGN-149 well (Ignativske field) on the London Stock Exchange.

In May 2021, the drilling was completed and the new IGN-149 well was put on production at the Ignativske field. During the test, the initial flow rates of oil were: 135.3 t / day and natural gas: 106.6 mcm / day via 11mm choke.

After performing the hydrodynamic surveys in the well, Ign-149 was shut in for the pressure transient analysis.  The results indicated a slight depletion of the formation. The works were carried out by employees of the JV PPC production department, using a wireline unit and down hole tools.

After that, the well was opened via 8mm choke for the survey on steady-state filtration modes. Flow rates were: oil 58.0 t / day;  gas 64.5 mcm / day.

At the moment, the tests are being carried out to determine the optimal well operation mode.



JV Poltava Petroleum Company is a Ukrainian-British joint venture established in 1994 and is a subsidiary of JKX Oil & Gas plc. JV PPC is one of the leaders among the non-state oil and gas companies in Ukraine. The company’s field of activity is the search, exploration, production and treatment of gas and oil. Poltava Petroleum Company uses the most modern technologies and methods to achieve energy independence for Ukraine.

The parent company, JKX Oil & Gas plc, is a publicly traded company listed on the London Stock Exchange since 1995 and is governed by a Board of Directors. The CEO of JV PPC and JKX Oil & Gas plc is Viktor Gladun, who has been heading the company since 2016.