Last checked at 18 Jul 2012 08:03
For immediate release | 18 July 2012 |
Roxi Petroleum plc
("Roxi" or the "Company")
Operational Update
Roxi Petroleum (AIM:RXP), the Central Asian oil and gas company with a focus on Kazakhstan, is pleased to make the following operational update with respect to its Galaz asset.
NK7
Further to the announcement of 27th June 2012, Roxi is pleased to provide the following additional information.
On 26 June 2012, a 7.5 metre section of the well was perforated between 1288.5 metres and 1296 metres. Following a brief clean up the well was closed to allow a build up of oil.
The well was opened on 30 June 2012 using a 5mm choke with oscillating flows between 51 and 449 bopd. By 1 July the rate had stabilised to some 300 bopd.
On 4 July 2012, the well was opened again this time using a 7mm choke and the well flowed at some 335 bopd.
On 11 July 2012, the well was opened again this time using an 8mm choke and the well flowed at between 530 and 620 bopd.
NK14
Roxi is also pleased to announce that well NK14 reached a total depth of 1378 metres on 14 July 2012.
A decision on testing will be made after wire logging.
Clive Carver, Chairman said
"We remain extremely pleased with the performance of NK7 and look forward with interest to the wire logging results on NK14."
Enquiries
Roxi Petroleum plc Clive Carver, Chairman | (c/o Buchanan) +44 (0) 20 7466 5000 |
WH Ireland plc James Joyce / James Bavister | +44 (0) 20 7220 1666 |
Buchanan (Financial PR) Tim Thompson / Ben Romney / Helen Chan | +44 (0) 20 7466 5000 |
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.