Operational Update

RNS Number : 2264R

Roxi Petroleum Plc

01 November 2011

 



For Immediate Release                                                                                     1 November 2011

Roxi Petroleum plc

("Roxi Petroleum" or the "Company")

Operational Update

Roxi Petroleum, the Central Asian oil and gas company with a focus on Kazakhstan, is pleased to announce that the NK-9 well was spudded at 13:00hrs (local time) on 27 October 2011.

The well is planned to drill to a total depth of 1500 metres to appraise the discovery of Arskum formation in the south channel of the Galaz block.  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.

This is the first of 3 wells expected to be drilled across the Group's assets before the end of the year and marks the start of the next phase of operational activity for the Company.

David Wilkes, CEO commented

"I am delighted that after many months of preparation and dealing with the Company's finances we are able to commence drilling on what we believe to be a promising asset. We await with interest the results of the drilling.

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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