JKX kicks off Bulgaria drill programme

2nd Sep 2010 08:17

JKX begins a two-well drill programme in Bulgaria today to test targets will an estimated resource of up to 60 billion cubic feet (Bcf). The Staro Oryahovo South R-1 well in the Kamchia basin, south west of Varna, will take until the end of the month to drill to its target depth of 1,800m. It has an estimated resource of 20 to 30 Bcf. Then the rig will move 5km south to the Shkorpilovtci South West R2 location to drill 800m to test another resource though to contain 20 to 30 Bcf.JKX Bulgaria has a 40% interest.Elsewhere, testing of the Tiszavasvari-6 well in Hungary should start by mid-September. JKX, which holds 50% of the Hernád licence through a joint venture, also confirmed it has agreed to buy minority stakes in HN Ventures, which indirectly owns the Gorbehaza field, part of the Nyriseg block, from Ascent Resources and DualEx Nyriseg Inc.