Galaz NK-12

RNS Number : 2932V

Roxi Petroleum Plc

10 January 2013

 



For immediate release                                                                       10 January 2013

Roxi Petroleum plc

("Roxi" or "the Company")

Galaz NK-12

Roxi Petroleum plc, the Central Asian oil and gas company with a focus on Kazakhstan, is pleased to update the market with the progress of Well NK-12, at its NW Konys asset (Galaz), which was spudded on 23 November 2012.

Well NK-12 is located to the south of currently producing wells at Galaz, which in aggregate are now producing in excess of 1,000 bopd. Roxi has a 34.22 per cent interest in Galaz.

NK-12 has been drilled to a total depth of 1,402 metres, and wireline logging has been run. The wireline log interpretation indicated that the well encountered an oil-bearing zone in the Cretaceous interval from 1,285 to 1,292.8 metres. Production casing has been run and cemented for perforating the above interval for testing.

Work on this well is scheduled to restart following the end of the Kazakh New Year holiday break in the middle of January 2013, after which, a further update will be made.

Comments

Clive Carver, Chairman, commented:

"We are pleased the well has been drilled successfully in difficult weather conditions and look forward to the results of the perforation testing, which we hope will confirm a fourth successful well in this section of our valuable Galaz asset."

Enquiries

Roxi Petroleum PLC                                                                    c/o Buchanan

Clive Carver, Chairman                                                      [phone]

WH Ireland plc                  

James Joyce / James Bavister                                           [phone]

Buchanan (Financial PR)

Tim Thompson / Tom Hufton                                           [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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