Proposed Sale of the Galaz Contract Area

RNS Number : 6983D

Roxi Petroleum Plc

02 February 2015

 

Roxi Petroleum PLC

("Roxi" or the "Company")

Proposed Sale of the Galaz Contract Area

Roxi, the Central Asian oil and gas company with a focus on Kazakhstan, is pleased to update the market with news of progress concerning the possible sale the Galaz Contract Area in which it holds an interest of 34.22 per cent.

Further to the announcement of 8 January 2015, Roxi is pleased to report that it continues to work with a consortium led by Xinjiang Zhundong Petroleum Technology Co., ("Xinjiang Zhundong") a company listed on the Shenzhen Stock Exchange in China, in connection with the potential acquisition of 100% of the Galaz Contract Area ("Galaz").

Accordingly the period of exclusivity granted to Xinjiang Zhundong, which expired on 31 January 2015, has been extended to 10 February 2015.

Further announcements will be made in due course.

Enquiries:

Roxi Petroleum PLC                                                  Clive Carver, Chairman

[phone]

WH Ireland Ltd                                                         James Joyce / James Bavister

[phone]

 

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