Caspian Sunrise Regulatory News (CASP)

For immediate release 29 May 2012

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 Contract Area.

NK-13 well was spudded on 28 May 2012.

The well is planned to drill to a total depth of 1400 metres to appraise Jurassic formation in the South East channel of the Galaz Contract Area.

Drilling operations are being coordinated by our operation partners LGI and are expected to take approximately 30 days, after which a further announcement will be made.

Enquiries

Roxi Petroleum plc

Clive Carver, Chairman +44 (0) 1883 717357

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

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.