Operations update

Roxi Petroleum Plc
14 August 2007

Roxi Petroleum


Operations update
14 August 2007



Roxi Petroleum ('Roxi' or 'The Company'), which was admitted to AIM in May this
year, was created to acquire controlling interests in and develop oil and gas
assets in Central Asia particularly focusing on Kazakhstan, is pleased to
provide the following update on its operations.


Highlights


•  Completed the purchase of two of the three Contract Areas as stated at
   IPO: Ravninnoe and Beibars


•  Completed registration with all relevant regulatory bodies, in
   relation to the above transactions, taking control of the two companies
   Ravninnoe Oil LLP and Beibars Munai LLP


•  Expects to make a final decision on the acquisition of the third
   contract area, North Karamandybas within the next quarter


•  Identified and are evaluating six further potential asset acquisitions
   in Kazakhstan




Ravninnoe Contract Area

The Ravninnoe Contract Area covers 121 square kilometres and is located
approximately 100 kilometres north east of the Tengiz field in the South Emba
sub - basin of the pre - Caspian basin, in the Atyrau Oblast of West Kazakhstan.

With the completion of the transaction, project evaluation and design work is
now underway for the re-entry of up to four existing wells on the field. The
design work is expected to be completed before the end of August.  The Company
has issued a tender for well workover and re-entry services. The contract should
be awarded in August, with the rig mobilisation to follow shortly. The Company
has also issued a tender for seismic operations with several local providers.

The Company continues to test well #8 with a specialised swabbing unit. This
well was re-entered prior to Roxi's listing.


Beibars Contract Area

This contract area covers approximately 167 square kilometres and is situated on
the coastline of the Caspian Sea approximately 40 kilometres south of the port
of Aktau.

Roxi continues its technical analysis of the Contract Area and has recently
acquired additional historical data. This data will feed into a seismic survey
of the Area, which is currently being designed. A tender for this programme is
being prepared for submission in the next month.


North Karamandybas Contract Area

This area covers approximately 7.2 square kilometres and is situated in the
South Mangishlak Basin, Karakigansky Rayon of the Mangistau Oblast approximately
120 km east of the port of Aktau.

Progress is continuing to be made on the transaction. Roxi's commercial partner
has been successful in the first two stages of legal action. The third and final
stage is ongoing.

Roxi expects to make a final decision regarding the purchase in the near future.

Future prospects

As part of its stated strategy on admission to AIM, Roxi is looking for
additional attractive prospects and potential acquisitions. The Company has
begun evaluating six additional prospects in Kazakhstan, and remains vigilant
for any further appropriate opportunities to grow its portfolio.

Infrastructure

In the 4th Quarter 2007, Roxi will move into a newly renovated office in Almaty.
Roxi has strengthened the team, employing an experienced blend of both local
and international professionals in the technical, legal and financial arenas who
will be pivotal to the Company's operational success going forward.

Roxi will be announcing its maiden interim results for the half year ended 30
June 2007 on Friday 7th  September 2007.

Rob Schoonbrood, Chief Executive Officer, said:

'We have created a solid platform for further future growth. Our exciting
strategy of future acquisitions will drive the company forward, creating further
value for our shareholders

After our successful launch , Roxi has made excellent progress.  We are
delighted to have completed the Ravninnoe and Beibars transactions, and expect
to make the final decision on our purchase of 50% of North Karamandybas shortly.

We have continued to strengthen our team and infrastructure; whilst
operationally our forward programmes are being developed with tenders being
submitted to contactors to carry out the work.'



14 August 2007


Enquiries:

Roxi Petroleum
Rob Schoonbrood, CEO                       020 3159 5315 UK / 7 727 278 1022 KZ
David Barker, COO                          020 3159 5315 UK / 7 727 278 1022 KZ

College Hill
Paddy Blewer                               020 7457 2020
Nick Elwes                                 020 7457 2020

WH Ireland
James Joyce                                020 7220 1666
David Porter




Notes to Editors:

Roxi Petroleum

Roxi was created to acquire controlling interests in and develop oil and gas
assets in Central Asia, with a focus on Kazakhstan.  The initial strategy will
be to target projects which have oil discoveries and exhibit a potential for
considerable development and / or exploration upside. This strategy will allow
the Company to rapidly add value to its projects by upgrading reserves levels
and planning for the earliest possible production date.

The Company's senior management team has significant experience in the region
and industry having worked across a diversified number of countries and climates
including Kazakhstan, the Middle East, Europe, the former Soviet Union, Russia,
Africa, and the United States with major oil companies including Royal Dutch
Shell, BP, Mobil, and a variety of joint venture operations.










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