OREANDA-NEWS. July 16, 2010. JKX, the oil and gas exploration company with assets in the CIS region, has got encouraging test results from its second gas well in Russia, the company’s representative announced on July 15. The well flowed at a stabilized rate of 0.63 million cubic meters of gas per day (MMcmd), accompanied by an estimated 3.4 tons of condensate per day.

Millennium Capital considers the news as positive for the JKX Oil&Gas (JKX LN) since the increased productivity of the well will improve both economics and the booked reserves of the project. Millennium Capital estimates it will bring additional revenues of USD 23 mn p.a.