Operational Update

RNS Number : 1138C

Roxi Petroleum Plc

26 April 2012

 



For immediate release

26 April 2012

Roxi Petroleum plc

("Roxi" or the "Company")

Operational Update

Roxi, the Central Asian oil and gas company with a focus on Kazakhstan, is pleased to announce that the NK-7 well was spudded at 00:00hrs (local time) on 25 April 2012.

This appraisal well is planned to drill to a total depth of 1400 metres and is targeted to encounter Jurassic sands and Conglomerate in the North Channel 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.

This is the first of 6 wells expected to be drilled across the Group's assets before the end of the year.

David Wilkes, CEO commented

"We look forward to the results of NK-7 which is targeting the North Channel on NW Konys. In the meantime, we continue to produce from well NK-6, which is achieving a production rate of approximately 155 bopd from the NW Konys field."

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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