JKX Oil & Gas has been granted three 35-year production licences covering an area of approximately 75 sq km within its former Hernad I & II exploration licence areas in north-eastern Hungary. The licences are wholly owned by JKX.

The existing Hajdunanas-IV production licence (which encompasses the Hajdunanas Field) has been extended to the north-east to include an extension to the Miocene play productive in the Hajdunanas-1 well. The licence extension covers 15 sq km, increasing the total area of the licence to 25 sq km.

The Tiszavasvari-IV production licence extends over 44 sq km and is centred on the 2010 discovery well Tiszavasvari-6. This well encountered a hydrocarbon column of more than 300m in a small fault block adjacent to a larger up-dip fault block which provides considerable additional upside potential.

Tags: JKX Oil & Gas plc