JKX Oil & Gas says that the testing of well E-303 on the Elizavetovskoye field in Ukraine indicates a gross pay of 167 metres spread over eight reservoir horizons. Reservoir properties are analogous to those in the producing wells in the adjacent Machevska field, one of the largest fields in Ukraine, which has a history of significant, sustained production from the deep sandstone reservoirs.
JKX Chief Executive, Dr Paul Davies, commented,"Bringing the deep sandstone reservoirs of the Elizavetovskoye field on-stream is technically challenging and will require extended completion and testing. We are optimistic that the sandstone reservoirs will produce at commercial rates in line with the nearby wells. We will provide further updates as the work progresses."