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Last checked at 
11 Apr 2012 07:00
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For Immediate Release | 11 April 2012 |
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Roxi Petroleum plc
("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 operations on its Galaz Contract Area.
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Galaz
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Well NK-10, which was drilled in November and December 2011, was tested by our partners LGI between 1 April and 9 April 2012, at depths between 1288 and 1298 meters.
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The tests have revealed high water content with only minor gas and oil film shows. Accordingly, no further tests are planned for NK-10 and accordingly NK-10 will now be plugged and abandoned.
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Exploration and appraisal work on NW Konys will continue with production from the Galaz Contract Area currently running at the rate of 160 bopd.
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David Wilkes, CEO commented
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"The test results from NK-10, while disappointing, provide very useful information on the boundaries of the reservoir encountered, together with the results of tests in March 2012 on Well NK-9."
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Enquiries
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Roxi Petroleum plc David Wilkes CEO | +7 727 244 0920 |
Strand Hanson Limited Andrew Emmott / Cordelia Orr-Ewing | +44 (0) 20 7409 3494 |
Renaissance Capital Limited John Porter / James Etherington | +44 (0) 20 7367 8242 |
Buchanan (Financial PR) Tim Thompson / Ben Romney / Helen Chan | +44 (0) 20 7466 5000 |
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Qualified Person
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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.
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