Operational Update

RNS Number : 2140G

Roxi Petroleum Plc

27 June 2012

 



For immediate release

27 June 2012

Roxi Petroleum plc ("Roxi" or the "Company")

Operational Update

Roxi, the Central Asian oil and gas company with a focus on Kazakhstan, is pleased to make the following operational update with respect to its Galaz asset.

NK14

Well NK14 was spudded on 25 June 2012.  The well is an appraisal well intended to evaluate the main reservoir, at the Jurassic Sand and Lower Cretaceous levels.

The well is to be drilled to a Total Depth of 1400m and it is expected to take approximately 25 days to reach Total Depth, including time for coring and wireline logging.

 NK7

As previously announced testing continues at NK7 using different choke sizes. At a choke size of 5mm the flow rate was 157 bopd, at a choke size of 6mm the flow rate was 186 bopd and at a choke rate of 7mm the choke rate was 259 bopd.

It remains the plan to perforate and test a second interval and then in July 2012 commence a 90 day production test on the well.

Ends

Comments

Clive Carver, Chairman said

"We remain encouraged by the testing results at NK7 and look forward to updating the market over the next week or so on developments there and in the next few weeks on NK14"

Enquiries:

Roxi Petroleum plc Clive Carver, Chairman	[phone]
WH Ireland plc James Joyce / James Bavister	[phone]
Buchanan (Financial PR) Tim Thompson / Ben Romney / Helen Chan	[phone]

 Qualified Person

Mr. Hyunsik Jang, Chief Operating Officer of the Company, has reviewed and approved the technical disclosures in this announcement.  He holds a BSc in Geology and has 25 years of international experience of exploration, appraisal and development of oilfields in a variety of environments.

 

END

 

 

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