JKX secures Weatherford rig for two-well drilling program in Bulgaria

Source: Aurelian Oil & Gas

JKX, the operator of the B1-Golitza license in Bulgaria, has signed a Letter of Intent with Weatherford Drilling International for the supply of a CCC-500 drilling unit for the 'back to back' drilling of a two well program on B1-Golitza.

It is expected that the two wells will spud in the middle of the third quarter and the beginning of the fourth quarter of 2010, respectively.

The first well in the program, SOS, will test a potential 20-30 Bcf prospect at 1,500 meters, up dip of the depleted Stary Oryahovo gas field, discovered in the 1960s. Results of this well are expected in early October 2010.
The second well, S54, will also be testing a potential 20-30 Bcf prospect at a depth of 600 meters with results expected by the end of the fourth quarter of 2010.

Interests in the B1-Golitza block are held by JKX (40%), Balkan Explorers (Bulgaria) Limited (a 100% subsidiary of Aurelian Oil and Gas PLC) (30%) and Sorgenia International B.V. (30%).

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