JKX Oil & Gas plc (JKX) has reported that it has been granted three 35-year production licences (mining plots). The licences cover an area of approximately 75 km2 within its former Hernad I & II exploration licence areas in north-eastern Hungary. The licences are wholly owned by JKX.
- The existing Hajdunanas-IV production licence, which encompasses the Hajdunanas Field, has been extended to the north-east to include an extension to the Miocene play productive in the Hajdunanas-1 well. The licence extension covers 15 km2, increasing the total area of the licence to 25 km2.
- The Tiszavasvari-IV production licence extends over 44 km2 and is centred on the 2010 discovery well Tiszavasvari-6. This well encountered a hydrocarbon column of more than 300 m in a small fault block adjacent to a larger up-dip fault block which provides considerable additional upside potential.
- The Hajdunanas-V production licence covers an area of 15 km2 and incorporates the Chevelle structure, and has been defined by the presence of significant gas shows in Pannonian reservoir rocks intersected down-dip of the mapped closure during the drilling of the Tiszavasvari-6 well.
JKX has submitted three further production licence applications on other areas within the former Hernad I and II exploration licence areas. JKX anticipates confirmation of further awards by year-end.
JKX Chief Executive, Dr Paul Davies, said: "The award of these production licences marks the transition from exploration to appraisal and development of our Hungarian assets. With a farmout process underway for all current and potential licences, we are looking forward to a significant increase in activity during 2016."
Edited from press release by Angharad Lock
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