Last checked at 29 Apr 2014 07:00
For immediate release 29 April 2014
Roxi Petroleum plc
("Roxi" or "the Company")
Operational update
Roxi, the Central Asian oil and gas company with a focus on Kazakhstan, is pleased to update the market with operational progress at its BNG and Galaz assets.
BNG
Deep well
Drilling at Well A5, which is targeting the Permian and middle Carboniferous of the South Emba sub-basin, has reached a depth of 4,081 meters after successfully passing through the salt layer without incident despite very high pressures.
Casing is being set and drilling to the planned total depth of 4,700 meters is expected to recommence in early May. The first indications from this well should be available by the end of May 2014.
Shallow wells
Well 806, which is targeting Jurassic bearing sands at 2,200 meters has produced on a test basis, using a 3mm choke, at the rate 22 bopd. A slight well repair is required to improve production volumes.
Testing has commenced at Wells 143 and 805, which are both targeting Jurassic Callovian sands with a secondary objective in the Cretaceous Valanginan horizon.
Four intervals are being tested at Well 143, with the test results from the first interval expected to be available in the next few weeks.
Two intervals are being tested at Well 805 and the first of these test results is also expected to be available in the next few weeks.
Galaz
Well NK24, which is targeting Jurassic and Cretaceous reservoirs, has reached its planned total depth of 1,650 meters. The well has been perforated for testing in two intervals with the early results of these tests expected to be available in the next few weeks.
Comments
Clive Carver, Chairman commented
"We are delighted that the most difficult phase of the deep well has been successfully completed. This was a complex operation whose success is a testament to the skills to all those involved.
Drilling the remaining 620 meters once the casing has been set is not expected to present the same technical challenges as we have encountered in the past few months. We therefore expect to have early indications of the prospects for this well by the end of May 2014.
We also remain encouraged by the drilling progress at our other wells at BNG and with NK-24 at Galaz."
Enquiries
Roxi Petroleum PLC
Clive Carver, Chairman +44 (0) 20 7220 1666
WH Ireland plc
James Joyce / James Bavister +44 (0) 20 7220 1666
Qualified Person
Mr. Nurlybek Ospanov, Roxi's senior geologist who is a member of the Society of Petroleum Engineers ("SPE"), has reviewed and approved the technical disclosures in this announcement.