Business
Discovery at BNG
Discovery at BNG.
About this update from Caspian Sunrise Plc
[{"type":"text","content":"\n \nRNS Number : 7903L Roxi Petroleum Plc 09 July 2014 \n \n\nFor immediate release 9 July 2014\n \n \nRoxi Petroleum plc\n \n(\"Roxi\" or \"the Company\")\n \nDiscovery at BNG\n \nRoxi, the Central Asian oil and gas company with a focus on Kazakhstan, is pleased to update the market with news of a discovery at its flagship BNG asset.\n \nBackground\n \nThe BNG Contract Area is located in the west of Kazakhstan 40 kilometres southeast of Tengiz on the edge of the Mangistau Oblast, covering an area of 1,561 square kilometres of which 1,376 square kilometres has 3D seismic coverage acquired in 2009 and 2010. \n \nRoxi has a 58.41 per cent interest in the BNG Contract Area.\n \nDeep Well A5\n \nWell A5, the first deep well on the BNG Contract Area, with a planned Total Depth of 4,700 meters is targeting principally the middle Carboniferous formation at 4,390 meters of the South Emba sub-basin.\n \nRoxi is delighted to announce that oil and gas shows have been detected at a depth of 4,332 meters.\n \nAfter the completion of clean-up work to deal with the oil and gas shows encountered, core samples will be taken to determine the oil bearing horizon.\n \nFurther announcements will be made in due course.\n \nComment\n \nClive Carver, Chairman commented\n \n\"We are naturally delighted with these early indications and look forward to quantifying what has been discovered in the coming days and weeks.\"\n \n \nEnquiries\n \nRoxiPetroleum PLC &n...