Galaz update

RNS Number : 3960Q

Roxi Petroleum Plc

03 August 2010

 

For immediate release

3 August 2010

Roxi Petroleum plc

("Roxi" or "the Company")

Galaz update

Roxi Petroleum (AIM: RXP), the Central Asian oil and gas company with a focus on Kazakhstan, is pleased to announce that it has received the Article 71 pre-emption waiver from the Kazakh authorities in connection with the previously announced partial disposal of its interest in Galaz to LG International.

Article 71 of the Sub-Soil User law gives the Kazakh Government pre-emptive rights over the sale of any interests in oil and gas assets in Kazakhstan.  Receipt of the Article 71 pre-emption waiver means that, for regulatory purposes, final completion of the transaction is now subject only to receipt of the approval from the Kazakh Monopolies and Mergers authority.  A further announcement will be made in due course.

Enquiries

Roxi Petroleum plc

David Wilkes CEO                                                                                                            [phone]

Matrix Corporate Capital LLP (NOMAD and broker)

Alastair Stratton / Anu Tayal                                                                                       [phone]

Buchanan Communications (Financial PR)

Tim Thompson / Ben Romney / Chris McMahon                                                                [phone]

 

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