For immediate release 28 February 2014
Roxi Petroleum plc
("Roxi" or "the Company")
Galaz 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 Galaz assets.
The Galaz block is located in the Kyzylorda Oblast in central Kazakhstan. The Contract Area was extended on 10 January 2011 to 179 square kilometres and now includes significant exploration upside on the east side of the Karatau fault system, as well as the NW Konys development.
Previous drilling activities
Three successful wells have been drilled at Galaz since 2012
· Well NK-7 successfully tested oil at a daily rate of 186 bopd at 6mm choke size
· Well NK-8 tested and flowed 197 bopd at 6mm choke size and 251 bopd at 7mm
choke size.
· Well NK-12 tested at a daily rate of 117 bopd at 8mm choke size.
Recent activities
As previously announced NK-14 spudded targeting Jurassic and Cretaceous reservoirs. Roxi is pleased to report that the well has reached its total depth of 1,501 meters without incident. Well logging has been completed and an interval of interest between 1,290.2 and 1,295.7 meters has been identified in the Aryskumskiy horizon for further testing.
Roxi is also pleased to announce that Well NK24 has been spudded and has reached a depth of 425 meters without incident. The well is also targeting targeting Jurassic and Cretaceous reservoirs and has a planned total depth of 1,500 meters.
Comments
Clive Carver, Chairman commented
"We remain pleased with the progress of our wells at Galaz"
Enquiries
Roxi Petroleum PLC
Clive Carver, Chairman +44 (0) 20 7220 1666
WH Ireland plc
James Joyce / James Bavister +44 (0) 20 7220 1666
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.
This information is provided by RNS