Gas Flaring Consent Update

RNS Number : 5053T

Roxi Petroleum Plc

07 December 2011

 



7 December 2011

Roxi Petroleum plc

"Roxi" or the "Company"

South Yelemes Pilot Production Gas Flaring Consent Update

Roxi Petroleum, the Central Asian oil and gas company with a focus on Kazakhstan, is pleased to announce that it has been advised by the Ministry of Oil & Gas of the Republic of Kazakhstan that its operating Company, BNG Ltd LLP, ("BNG") has received approval for gas flaring for the period 2012 to 2014, which is the final regulatory consent needed before pilot production can commence on its South Yelemes field (Airshagyl Area). 

Roxi now expects Well 54 and Well 805 will be put into pilot production in the second quarter 2012. After pilot production commences, BNG will test and evaluate Well 806 as part of its ongoing development of the South Yelemes field.

David Wilkes, CEO commented

"This is the final approval that BNG needs to commence pilot production on South Yelemes and to generate much needed cash flows for one of Roxi's core assets."

Enquiries

Roxi Petroleum plc David Wilkes CEO	[phone]
Strand Hanson Limited Andrew Emmott / Cordelia Orr-Ewing	[phone]
Renaissance Capital Limited John Porter / James Etherington	[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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