Business
Operational and Business Update
Operational and Business Update.
About this update from Caspian Sunrise Plc
[{"type":"text","content":"\n \n\n\n\n\n\nRNS Number : 6075B Roxi Petroleum Plc 22 February 2011 \n \n\nFor immediate release 22 February 2011 \n \n \nRoxi Petroleum plc\nOperational and Business Update \n \nRoxi Petroleum (\"Roxi\" or \"the Company\"), the Central Asian oil and gas company with a focus on Kazakhstan, announces the following operations and business update:\n \n· Two year extension to Exploration Contract secures Galaz Pilot Production\n \nGalaz and Company LLP\nGalaz has received confirmation from the Ministry of Oil and Gas that it will receive a two year extension to the Subsoil User Contract for the NW Konys Contract Area. The addendum to the contract and work programme will be finalised with the Ministry Working Committee over the next sixty days.\nThis extension period will allow continued appraisal of NW Konys field during Pilot Production and the exploration of the North Konys structure in the Area Extension announced on 12 January 2011.\nIt is now estimated that Galaz will receive all permits and approvals to start pilot production in H2 2011. Following completion of the SSUC amendment, Galaz will apply for Pilot Production consent for the extension period. Upon receipt of all emissions and production permits, production will begin immediately from the available wells, which have individual facilities. Tendering for camp, pilot production facilities, and the first stage, development drilling campaign will commence after completion of the extension award.\nDavid Wilkes CEO commented:\n\"We are pleased to receive this extension to the Galaz Contract, which sets the foundation for our production forecasts for NW Konys through 2013. We are now approaching a ...