Galaz Operational Update

RNS Number : 1511B

Roxi Petroleum Plc

28 February 2014

 



For immediate release                                                                                                  28 February 2014

Roxi Petroleum plc

("Roxi" or "the Company")

Galaz operational update

Roxi, the Central Asian oil and gas company with a focus on Kazakhstan, is pleased to update the market with operational progress at its Galaz assets.

The Galaz block is located in the Kyzylorda Oblast in central Kazakhstan. The Contract Area was extended on 10 January 2011 to 179 square kilometres and now includes significant exploration upside on the east side of the Karatau fault system, as well as the NW Konys development.

Previous drilling activities

Three successful wells have been drilled at Galaz since 2012

·  Well NK-7 successfully tested oil at a daily rate of 186 bopd at 6mm choke size

·  Well NK-8 tested and flowed 197 bopd at 6mm choke size and 251 bopd at 7mm

choke size.

·  Well NK-12 tested at a daily rate of 117 bopd at 8mm choke size.

Recent activities

As previously announced NK-14 spudded targeting Jurassic and Cretaceous reservoirs. Roxi is pleased to report that the well has reached its total depth of 1,501 meters without incident. Well logging has been completed and an interval of interest between 1,290.2 and 1,295.7 meters has been identified in the Aryskumskiy horizon for further testing.

Roxi is also pleased to announce that Well NK24 has been spudded and has reached a depth of 425 meters without incident.  The well is also targeting targeting Jurassic and Cretaceous reservoirs and has a planned total depth of 1,500 meters.

Comments

Clive Carver, Chairman commented

"We remain pleased with the progress of our wells at Galaz"

Enquiries

Roxi Petroleum PLC                                                                              

Clive Carver, Chairman                                                                 [phone]

WH Ireland plc              

James Joyce / James Bavister                                                    [phone]

Qualified Person

Mr. Nurlybek Ospanov, Roxi's senior geologist who is a member of the Society of Petroleum Engineers ("SPE"), has reviewed and approved the technical disclosures in this announcement.

 

END

 

 

MSCQKODBOBKDDBB