Galaz Spudding NK-12

RNS Number : 6148S

Roxi Petroleum Plc

04 December 2012

 



For immediate release                                                                      4 December 2012

Roxi Petroleum plc

("Roxi" or "the Company")

Galaz Spudding NK-12

Roxi Petroleum plc, the Central Asian oil and gas company with a focus on Kazakhstan, is pleased to announce that the NK-12 well at the NW Konys asset (Galaz) was spudded on 23 November 2012.

This appraisal well is planned to drill to a total depth of 1500 meters and is targeted to encounter Cretaceous sand of NW Konys. 

Drilling operations are being coordinated by our operating partners LGI and are expected to take approximately 30 days, after which a further announcement will be made.

There are already three producing wells at Galaz; NK 6, NK 7 and NK 8 (formerly NK 14), which in aggregate are producing more than 700 bopd.  Roxi's interest in the field is 34.22 per cent.

Clive Carver, Chairman, commented:

"We are pleased that the development work continues at Galaz, which has already proved itself a success."

Enquiries

Roxi Petroleum PLC                                                                     c/o Buchanan

Clive Carver, Chairman                                                      [phone]

WH Ireland plc                  

James Joyce / James Bavister                                           [phone]

Buchanan (Financial PR)

Tim Thompson / Helen Chan / 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

 

 

MSCUGGQWPUPPGAW