Galaz Discovery

RNS Number : 3158H

Roxi Petroleum Plc

18 February 2010

 



Roxi Petroleum plc

Galaz Discovery

Roxi Petroleum plc ("Roxi" or the "Company")(ticker: RXP) is an AIM listed exploration and production company operating in Kazakhstan.

Highlights:

·      Second discovery on Galaz Contract Area.

·      NK22 encounters 12.8 metres of net pay

·      Good quality Lower Cretaceous and Jurassic reservoir

Roxi is pleased to announce that exploration well NK22,  drilled by its subsidiary "Galaz and Company" LLP, has encountered 12.8 metres of net pay, determined from wireline logs, in good quality lower Cretaceous, and Upper Jurassic aged reservoir formations (the primary objective). The well was drilled to a total depth of 2840 metres to evaluate Middle Jurassic potential on the block. Casing will be run, prior to testing the well.  

Comments

David Wilkes, CEO said

"This represents the sixth consecutive oil well drilled by Roxi in the past 14 months. It is an exciting discovery of a satellite accumulation to NW Konys field in the Galaz Contract Area which will allow Roxi to add to pilot production expected to start in Q2."

18 February 2010

Enquiries:

Roxi Petroleum plc

Clive Carver, non-executive chairman                                                                   [phone]

David Wilkes, CEO                                                                                                           [phone]

College Hill (Financial PR)

Nick Elwes     / Simon Whitehead                                                                             [phone]

Matrix Corporate Capital LLP (NOMAD and broker)

Alastair Stratton / Anu Tayal                                                                                       [phone]

Qualified Person

 Duncan McDougall, Technical Director of Roxi Petroleum and a Fellow in the Geological Society, London, has reviewed and approved the technical disclosure in this announcement. He holds a BSc in Geology and has 25 years international experience of exploration, appraisal, and development of oilfields in a variety of environments

 

END

 

 

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