Operational Update

RNS Number : 5659Z

Roxi Petroleum Plc

08 March 2013

 

For immediate release                                                                                        8 March 2013

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 update the market with developments at its Galaz asset.

Galaz

Well NK-12 was spudded on 23 November 2012 at Roxi's NW Konys asset (Galaz), where Roxi has a 34.22 per cent interest.

Roxi is pleased to announce that on 2 March 2013, testing commenced on Well NK-12 at an interval in the Cretaceous zone where oil flowed at a rate of 117 bopd using an 8mm choke. 

Comments

Clive Carver, Chairman, commented:

"We are pleased to report another successful well at Galaz. Once NK-12 is fully operational we expect gross production from the Galaz Contract Area alone to be more than 1,400 bopd and gross production from all of Roxi's assets to be 1,800 bopd with 870 bopd net to Roxi.

Enquiries:

Roxi Petroleum PLC                                                           c/o Buchanan

Clive Carver, Chairman                                                      [phone]

WH Ireland plc          

James Joyce / James Bavister                                           [phone]

Buchanan (Financial PR)

Tim Thompson / 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

 

 

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