As disclosed by JKX Oil & Gas in early July 2018, the process of divesting the companyâs six development and production areas (mining plots) located in central-eastern and northeastern Hungary is ongoing and it is believed to have reached final stage, as the deadline for submitting the offers had been set for the end of June 2018. JKX Oil & Gas, acting in Hungary through its subsidiary FolyÃ³part Energia Kft, is selling its solely-owned contracts Emod V (100 sq km), Hajdunanas IV (28 sq km), Hajdunanas V (7 sq km), Jaszkiser II (6 sq km), Pely I (18 sq km) and Tiszavasvari IV (46 sq km). It is understood, the offer attracted strong interest from the potential buyers: some 15 companies had visited the data room. The owner is seeking to conclude the transaction in cash.  The blocks on offer are located within the North Alfold, Hajdusag and Nagykunsag sub-basins, tectonic units of the Pannonian Basin.  Background Information:  The HajdÃºnÃ¡nÃ¡s IV mining plot was awarded on 29 November 2010 for an unlimited period. On 16 November 2015, JKX Oil & Gas enlarged the area towards northwest to its current size (25 sq km). The tract is enclosing the Hajdunanas gas field (wildcat HajdÃºnÃ¡nÃ¡s 1 was pronounced as a successful gas well on 11 August 2008. Appraisal HajdÃºnÃ¡nÃ¡s 2 was pronounced as successful on 8 January 2009, thus confirming the commerciality of the find. Production from the field was started in August 2009). The Hajdunanas V development/production area was granted to JKX Oil & Gas on 16 November 2015. It incorporates the Chevelle structure defined by the presence of gas shows during the drilling of the Tiszavasvari 6 well.  The Tiszavasvari IV development/production area was granted to JKX Oil & Gas in early-October 2015. The block is centred on the 2010 discovery well Tiszavasvari 6.  The Emod V development/production area was granted to JKX Oil & Gas on 21 January 2016. The contract is valid for a 35-year term. It includes the Mezokeresztes oil field, shut-in in the 1970s, believed to still contain significant undrained reserves. The company believes that upoto 90% of the mapped oil originally in place (OOIP) - circa 15 MMbbl â remains untapped.  The Jaszkiser II mining plot was granted to JKX Oil & Gas on 21 January 2016 for 35-years. The licence contains the Jabba structure, defined by the presence of amplitude anomalies similar to those encountered in the Pely 2 well, operated in late 2011/early 2012 (new-field wildcat PÃ©ly 2, drilled on a structure discovered on 2011 JÃ¡szsÃ¡g 3D seismic survey, encountered hydrocarbon shows, but was abandoned.)  The Pely I mining plot was granted to JKX Oil & Gas on 21 January 2016 for 35-years. The Pely contract is centred over a gas discovery made by the Pely 2 well 2010 (operated in 2011). This well tested gas from the sandstone series of the Miocene-age Szolnok Formation, but was abandoned in early 2012. JKX advises that there are other prospects adjacent to the discovery within the Pely I licence area.  JKX disclosed the its intention to divest Hungarian assets in early 2018. The company was progressing with the offer in April 2018. Interested parties were asked to contact: Ritchie Wayland, Exploration Manager, e-mail: ritchie.wayland@jkx.co.uk, telephone: +44 207 859 8536 (office), +44 7789 926472 (mobile) and/or Slava Kotov (slava.kotov@jkx.co.uk).
As disclosed by JKX Oil & Gas in early July 2018, the process of divesting the companyâs six development and production areas (mining plots) located in central-eastern and northeastern Hungary is ongoing and it is believed to have reached final stage, as the deadline for submitting the offers had been set for the end of June 2018.