Operational update

RNS Number : 7069F

Roxi Petroleum Plc

29 April 2014

 



For immediate release                                                                                                  29 April 2014

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 operational progress at its BNG and Galaz assets.

BNG

Deep well

Drilling at Well A5, which is targeting the Permian and middle Carboniferous of the South Emba sub-basin, has reached a depth of 4,081 meters after successfully passing through the salt layer without incident despite very high pressures.

Casing is being set and drilling to the planned total depth of 4,700 meters is expected to recommence in early May.  The first indications from this well should be available by the end of May 2014.

Shallow wells

Well 806, which is targeting Jurassic bearing sands at 2,200 meters has produced on a test basis, using a 3mm choke, at the rate 22 bopd. A slight well repair is required to improve production volumes.

Testing has commenced at Wells 143 and 805, which are both targeting Jurassic Callovian sands with a secondary objective in the Cretaceous Valanginan horizon.

Four intervals are being tested at Well 143, with the test results from the first interval expected to be available in the next few weeks.

Two intervals are being tested at Well 805 and the first of these test results is also expected to be available in the next few weeks.

Galaz 

Well NK24, which is  targeting Jurassic and Cretaceous reservoirs, has reached its planned total depth of 1,650 meters. The well has been perforated for testing in two intervals with the early results of these tests expected to be available in the next few weeks.

 Comments

Clive Carver, Chairman commented

"We are delighted that the most difficult phase of the deep well has been successfully completed.  This was a complex operation whose success is a testament to the skills to all those involved.

Drilling the remaining 620 meters once the casing has been set is not expected to present the same technical challenges as we have encountered in the past few months. We therefore expect to have early indications of the prospects for this well by the end of May 2014.

We also remain encouraged by the drilling progress at our other wells at BNG and with NK-24 at Galaz."

Enquiries

Roxi Petroleum PLC                                                                              

Clive Carver, Chairman                                                                 [phone]

WH Ireland plc              

James Joyce / James Bavister                                                    [phone]

Qualified Person

Mr. Nurlybek Ospanov, Roxi's senior geologist who is a member of the Society of Petroleum Engineers ("SPE"), has reviewed and approved the technical disclosures in this announcement.

 

END

 

 

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