JKX concludes Bulgarian farm-in agreement

JKX Oil & Gas (JKX LN) said yesterday in a press release that it has concluded a farm-in agreement with Sorgenia E&P SpA for the B Golitza and B1 Golitza licenses in Bulgaria. Sorgenia will receive a 30% working interest in the licenses, contributing USD 2.4 mln toward the 250 km2 seismic survey acquired in Oct. 2008-Jan. 2009, in addition to its equity interest. Following the move, participation in the licenses will be: JKX (40% and operator), Aurelian Oil & Gas (30%), and Sorgenia (30%).