Last checked at 3 Jun 2014 09:45
For immediate release 3 June2014
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 Galaz and BNG assets.
Galaz
Roxi is pleased to announce that Well NK-31 has been spudded and is to be drilled to a total depth of 2,500 meters targeting Middle Jurassic. The well is expected to reach Total Depth by the end of July, 2014.
Well NK-31 will be the deepest of the wells drilled to date at Galaz and is being drilled on the main Contract Area.
BNG
Deep Well A5
As previously announced, drilling at Well A5, with a planned Total Depth of 4,700 meters, paused at a depth of 4,081 meters after successfully passing through the salt layer without incident, despite very high pressures.
The well is targeting the Permian formation at 4,120 meters and the middle Carboniferous formation at 4,390 meters, within the South Emba sub-basin.
Casing has now been set and the final stage of drilling is expected to start on later this week to the Total Depth of 4,700 m. Core samples from any oil-bearing formations will be taken during drilling with initial results expected to be available by the end of June
Shallow wells
Testing continues at Wells 136, 143, 805 and 806, which are all targeting both Jurassic Callovian sands with a secondary objective in the Cretaceous Valanginan horizon.
At Well 143 the interval between 2,704 and 2,714 meters has been perforated and tested water with traces of oil. . Work to test the Valanginian horizon will start soon.
At Well 805 the interval between 1,960 and 1,972 meters and has been perforated and has tested with a flow rate of 90 bopd using a 2 mm choke.
Similarly, at Well 806 the interval between 2,022 and 2,032 ,meters has been perforated and has tested with a flow rate of 90 bopd using a 2 mm choke.
Comments
Clive Carver, Chairman commented
"We are pleased to be moving forward at Galaz with our deepest well to date on this license. The results of the testing programme at the shallow wells at BNG continue to indicate that portion of the BNG Contract Area is commercially attractive. In particular, should Well 143 test positively Roxi management believes it could significantly extend the horizon already being produced from by Wells 805 and 54.
The wait for the first results from our deep well A5 will soon be over."
Enquiries
RoxiPetroleum 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.