JKX entered into a farm-in agreement to earn 50% of future mining plots formed to develop discoveries via participation in the drilling of up to seven shallow wells located in the Turkeve area of north east Hungary in late 2010.
- Turkeve Ny-7 well encountered gas but with more than 25% of carbon dioxide. The operator is evaluating treatment and development options with a view to bringing the field into production
- limited rate pilot production is planned from Ny-7 with full rate production expected once a suitable development option is approved.
Based on the proposed development plan, Turkeve P50 reserves are 3.2 Bcf gas and 70 Mbbl condensate (net to JKX 0.3 MMboe).