Looks like Roxi shares have never been held tighter, in short supply with most day and T traders long gone. This time last year so close to A5's expected flow test the sp was heading to 26p and so every chance of something similar very soon on positive news from the next update on A5 and if accompanied with good news from 801, then the rise in sp will be breathtaking imho....gla....excitement building. ;-)
A big month ahead with significant upside potential.....A5's flow test expected by month end, Galaz cash by the 25th and 801 results anytime now and maybe news on the next two deep wells A6 & A7 of even JV news with Sinopec.......GLA holders ;-)
Related Zhundong Petroleum Technology Co., Ltd. (the "Company") shares 35% of the Netherlands Sinian Investment Limited ("Sinian investment") to acquire Kazakhstan Galaz and Companny LLP.
According to information provided Sinian investment:
1. Up to now, 100% stake in the company has changed to Grasse investment SINIAN name, through friendly consultations,
Sinian investment no later pay the balance due on September 25, 2015 (excluding convention "reservation amount").
Deep Well A5
A decision to side-track the well from a depth of 4,000 meters has been taken.
This work is expected to take 1 month to complete. Following the completion of the sidetrack casing will be set to the full depth of the well, which will allow a conventional a 90-day well test to commence at the end of Q3 2015.
Deep Well 801
As previously reported core samples and logging have revealed a potentially oil bearing interval starting from 4,536 meters and extending 100 meters. The pressure and temperatures encountered indicate this well is unlikely to be connected to the reservoir targeted by Deep Well A5. Therefore should Deep Well 801 prove commercially viable it would be a separate discovery to the potential discovery previously announced in connection with Deep Well A5.
On 30 June 2015, it was announced that casing had been set to a level of 4,790 meters and drilling had resumed to a new planned total depth of 5,100 meters targeting Lower Permian and Middle & Lower Carboniferous oil bearing reservoirs.
The well has now been successfully drilled to a total depth of 5,050 meters, into Lower Carboniferous. The lower part of the well will now be cased, and the well logs for the final 260 meters drilled are being examined to detect any additional oil-bearing intervals.
Further announcement of what we find in this interval will be made in due course.
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