Operational Update

RNS Number : 5264S

Roxi Petroleum Plc

22 November 2011

 



For Immediate Release

22 November 2011

Roxi Petroleum plc

("Roxi Petroleum" or the "Company")

Operational Update

Roxi, the Central Asian oil and gas company with a focus on Kazakhstan, is pleased to announce that well NK-9 spudded on 27 October 2011 has reached a total depth of 1,505 metres on 16 November 2011.

The preliminary interpretation of wireline logging indicates that the well encountered oil bearing reservoir sands in the Upper Jurassic section at a depth of 1,294 metres Measured Depth.  Upon final interpretation of the wireline logs data, the well will be perforated and tested. The rig is currently being moved to the second well location, NK-10, which will be drilled to appraise the Upper Jurassic sands on the same structure in early December.

David Wilkes, Chief Executive Officer, commented

"I am delighted that the results of drilling NK-9 have confirmed our understanding of the oil in place on NW Konys and look forward to the final results of the logging and putting this well onto test after completing the drilling of well NK-10."

Enquiries

Roxi Petroleum plc David Wilkes CEO	[phone]
Strand Hanson Limited Andrew Emmott / Cordelia Orr-Ewing	[phone]
Renaissance Capital Limited John Porter / James Etherington	[phone]
Buchanan (Financial PR) Tim Thompson / Ben Romney / Helen Chan	[phone]

Qualified Person

Mr. Hyunsik Jang, Chief Operating Officer of the Company, has reviewed and approved the technical disclosures in this announcement.  He holds a BSc in Geology and has 25 years of international experience of exploration, appraisal, and development of oilfields in a variety of environments.

 

END

 

 

MSCGLBDBISDBGBD