Discovery at BNG

RNS Number : 7903L

Roxi Petroleum Plc

09 July 2014

 



For immediate release                                                                       9 July 2014

Roxi Petroleum plc

("Roxi" or "the Company")

Discovery at BNG

Roxi, 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.

Background

The 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.

Roxi has a 58.41 per cent interest in the BNG Contract Area.

Deep Well A5

Well 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.

Roxi is delighted to announce that oil and gas shows have been detected at a depth of 4,332 meters.

After 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.

Further announcements will be made in due course.

Comment

Clive Carver, Chairman commented

"We are naturally delighted with these early indications and look forward to quantifying what has been discovered in the coming days and weeks."

Enquiries

RoxiPetroleum PLC                                                                        

Clive Carver, Chairman                                                         [phone]

WH Ireland plc                   

James Joyce / James Bavister                                              [phone]

 

END

 

 

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