JKX reveals good progress in Ukraine | 31 July 2013 | Stock Market Wire:
"JKX Oil & Gas reports good progress on a complex programme in Ukraine with the first three of nine stages of the well R-103 frac being completed successfully.
An interim flow back has been performed for preliminary clean-up of the formation, and work has now started on stages four to six of the programme.
Each stage covers approximately 100m of the sub-horizontal 1,000m reservoir section.
Chief executive Dr Paul Davies said: "Operationally this complex programme has made very good progress and we now have three fracs completed successfully.
"We are seeing variability in the rock properties as we progress along the well bore, and we may encounter sections where the pump pressure to frac the rock exceeds the safe working limit of the equipment.
"We have, therefore mobilised additional equipment which should help us partially overcome the high break-down pressures encountered. I look forward to reporting progress with the next three stages of the programme." "
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