11 Apr 2016 07:00
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Roxi Petroleum PLC
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("Roxi" or the "Company")
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Operational Update
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Roxi, the Central Asian oil and gas company with a focus on Kazakhstan, is pleased to update the market with news of its flagship BNG asset.
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Shallow Wells
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Recent activity at our shallow wells has been focused on Well 143, which is currently producing at the rate of 623 bopd through a 5mm choke. Later this week a 6mm choke will be tested.
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Total production from our shallow wells is running at the rate of 865 bopd (510 bopd net to Roxi).
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Deep Wells
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Deep Well A6
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Deep Well A6 was spudded in early November 2015 and is to be drilled to a planned total depth of 5,000 meters.
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Following a pause to set casing to a depth of 3,727 meters and the installation of high pressure blowout preventers drilling has resumed and has reached a depth of 3,835 meters.
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Based on our interpretation of seismic surveys and the experience from the two previous deep wells we expect to reach a potentially oil bearing zone after a further 300 meters.
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Deep Well A5
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Deep Well A5 was drilled to a depth of 4,442 meters, and for brief periods of up to two hours at a time the well flowed oil at the rate of 2,000 bopd before becoming blocked by the accumulation of unrecovered heavy drilling fluids becoming set in the oil pipe.
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The rig initially identified for testing was used on other activities but is now back on site for a new attempt to clear the blocked well using coil tubing equipment.
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Deep Well 801
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As previously reported Deep Well 801, which was drilled to a depth of 5,050 meters, has suffered from blockages caused by excess drilling fluids.
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Following extensive chemical cleaning the pressure in the well has grown to 240 bar. Our intention is to open the well for testing once the pressure reaches 300 bar.
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Comment
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Clive Carver, Chairman said
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"We remain pleased with the progress at our shallow wells and continue to work to allow the commencement of testing of the two completed deep wells A5 and 801.
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At Deep Well A6 we look forward to the findings from the drilling of the potentially oil bearing section.
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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.
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Enquiries
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Roxi Petroleum PLC
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Clive Carver, Chairman +7 727 375 0202
WH Ireland plc
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James Joyce / James Bavister +44 (0) 20 7220 1666