JKX Oil & Gas awarded further three Hungarian production licences (Scandinavian Oil-Gas Magazine)

JKX Oil & Gas awarded further three Hungarian production licences

Published Jan 22, 2016

JKX Oil & Gas plc has been granted a further three 35-year production licences (mining plots) covering an additional area of approximately 124 sq km within its original Hernad I & II exploration licence areas. The licences are wholly owned by JKX's Hungarian subsidiary company.

The Emod V production licence extends over 100 sq km and includes the Mezokeresztes Field which is believed to contain significant undrained reserves. The field was shut-in during the 1970's and up to 90% of the mapped oil originally in place (circa 15 MMbbl) remains in-situ.

Tags: JKX Oil & Gas plc

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