JKX completes 10 stage frac operation in Ukraine | 28 August 2013 | Stock Market Wire

JKX completes 10 stage frac operation in Ukraine | 28 August 2013 | Stock Market Wire:

"JKX Oil & Gas has successfully completed the 10 stage multi-stage frac in well R-103 in Ukraine and the crew and equipment are now being demobilised.

The remaining plugs separating the frac stages are currently being drilled out and flow-back has begun. This flow-back phase is expected to take approximately 3 to 4 weeks with stabilised gas flow data expected in a further 4 to 5 weeks.

Chief executive Dr Paul Davies said: "We are very pleased to have successfully completed this 10 stage frac operation in Ukraine. Conditions have been difficult but overall the execution has been better than anticipated.

"Seven of the frac stages have achieved or exceeded design predictions, two were below expectations and only one was unsuccessful. The next few weeks of clean-up and flow stabilisation will be critical and we are encouraged that the well is already flowing gas to surface together with frac fluids."

At 8:34am: [LON:JKX] JKX Oil & Gas share price was +1p at 67.5p"

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