JKX in 2004

Found this on rigzone ;-))



J.P. Kenny Exploration & Production Ltd., the owner of Poltava Gas and Oil Company Ltd. (PGOC), will increase capital investment in hydrocarbon extraction in 2004 by 33% in comparison with this year - up to $10m.

PGOC director general Timofey Kaunov disclosed this Tuesday to journalists and added $2m-3m will be invested in upgrading of oil and gas facilities.

So the company's capacity for preparation and initial processing of extracted oil and gas will be increased from 48m to 60m cubic meters per month.

It is also planned to build a new gas pipeline with a capacity of 10m cubic meters per day for transportation of gas from PGOC fields to the gas transportation system of Ukraine. Afterwards the company will refuse from using the gas pipeline belonging to PoltavaGazVydobuvannia.

Next year it is planned to drill at least three or four-five at most new wells.

In 2003 J.P. Kenny invested $7.5m in development of PGOC. The funds were used on a drilling program, capital overhaul of two wells, drilling of a test hole, installation of oil reservoirs of up to 8,000 cubic meters, operation of a gas generator to provide itself with electric energy in full.

In May 2003 the State Property Fund of Ukraine sold the state stock (33.8% of shares) of Poltava Gas and Oil Company Ltd. to its co-founder - J.P. Kenny for UAH5.34m.

PGOC is the biggest non-state oil and gas extraction company in Ukraine. It was established in 1992 with a statutory fund of $3.6m. J.P. Kenny Exploration & Production Ltd., the owner of Poltava Gas and Oil Company Ltd. (PGOC), will increase capital investment in hydrocarbon extraction in 2004 by 33% in comparison with this year - up to $10m.

PGOC director general Timofey Kaunov disclosed this Tuesday to journalists and added $2m-3m will be invested in upgrading of oil and gas facilities.

So the company's capacity for preparation and initial processing of extracted oil and gas will be increased from 48m to 60m cubic meters per month.

It is also planned to build a new gas pipeline with a capacity of 10m cubic meters per day for transportation of gas from PGOC fields to the gas transportation system of Ukraine. Afterwards the company will refuse from using the gas pipeline belonging to PoltavaGazVydobuvannia.

Next year it is planned to drill at least three or four-five at most new wells.

In 2003 J.P. Kenny invested $7.5m in development of PGOC. The funds were used on a drilling program, capital overhaul of two wells, drilling of a test hole, installation of oil reservoirs of up to 8,000 cubic meters, operation of a gas generator to provide itself with electric energy in full.

In May 2003 the State Property Fund of Ukraine sold the state stock (33.8% of shares) of Poltava Gas and Oil Company Ltd. to its co-founder - J.P. Kenny for UAH5.34m.

PGOC is the biggest non-state oil and gas extraction company in Ukraine. It was established in 1992 with a statutory fund of $3.6m. J.P. Kenny Exploration & Production Ltd., the owner of Poltava Gas and Oil Company Ltd. (PGOC), will increase capital investment in hydrocarbon extraction in 2004 by 33% in comparison with this year - up to $10m.

PGOC director general Timofey Kaunov disclosed this Tuesday to journalists and added $2m-3m will be invested in upgrading of oil and gas facilities.

So the company's capacity for preparation and initial processing of extracted oil and gas will be increased from 48m to 60m cubic meters per month.

It is also planned to build a new gas pipeline with a capacity of 10m cubic meters per day for transportation of gas from PGOC fields to the gas transportation system of Ukraine. Afterwards the company will refuse from using the gas pipeline belonging to PoltavaGazVydobuvannia.

Next year it is planned to drill at least three or four-five at most new wells.

In 2003 J.P. Kenny invested $7.5m in development of PGOC. The funds were used on a drilling program, capital overhaul of two wells, drilling of a test hole, installation of oil reservoirs of up to 8,000 cubic meters, operation of a gas generator to provide itself with electric energy in full.

In May 2003 the State Property Fund of Ukraine sold the state stock (33.8% of shares) of Poltava Gas and Oil Company Ltd. to its co-founder - J.P. Kenny for UAH5.34m.

PGOC is the biggest non-state oil and gas extraction company in Ukraine. It was established in 1992 with a statutory fund of $3.6m.

..... Odd there's no mention of jkx .... like the idea of a possible 5 wells this year ;-)) assume the new pipeline ref is wrong..... where would they get 350 mmscfd of gas from ??

Duke.... have you looked at Melrose Resources (MRS) ? New production from Egypt just on stream , offshore Bulgaria due to start up this month , plus they're planning to be busy on the drilling front this year..... don't actually hold any currently