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JKX hits gas in Hungarian oilfields


Published Aug 11, 2008
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JKX reports results of the Golitza -1

U.K. outfit JKX Oil & Gas has discovered gas in Hungary’s promising Pannonian Basin with the Hajdunanas No. 1 well, set in concrete now as a future producer.

The licences are 100-percent held by operator Hungarian Horizon Energy, a business of US independent, Aspect Holdings. Shares in JKX rose nearly two percent on the Hungarian news.

The well in northeast Hungary is the first drilled in the 5,400-square-kilometre Hernad license since a “3D” survey in 2007. Well No. 1 went down to 1,166 metres and met three gas bearing Miocene-era intervals which tested at from 3.8 million cubic feet per day to 5.9 MMcfd on 10mm and 12 mm chokes.

An appraisal well later in 2008 and new exploration wells in 2009 are planned.

Tags: Hungarian Horizon Energy, JKX Oil & Gas plc



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