Last checked at 10 Jan 2013 14:21
For immediate release 10 January 2013
Roxi Petroleum plc
("Roxi" or "the Company")
Galaz NK-12
Roxi Petroleum plc, the Central Asian oil and gas company with a focus on Kazakhstan, is pleased to update the market with the progress of Well NK-12, at its NW Konys asset (Galaz), which was spudded on 23 November 2012.
Well NK-12 is located to the south of currently producing wells at Galaz, which in aggregate are now producing in excess of 1,000 bopd. Roxi has a 34.22 per cent interest in Galaz.
NK-12 has been drilled to a total depth of 1,402 metres, and wireline logging has been run. The wireline log interpretation indicated that the well encountered an oil-bearing zone in the Cretaceous interval from 1,285 to 1,292.8 metres. Production casing has been run and cemented for perforating the above interval for testing.
Work on this well is scheduled to restart following the end of the Kazakh New Year holiday break in the middle of January 2013, after which, a further update will be made.
Comments
Clive Carver, Chairman, commented:
"We are pleased the well has been drilled successfully in difficult weather conditions and look forward to the results of the perforation testing, which we hope will confirm a fourth successful well in this section of our valuable Galaz asset."
Enquiries
Roxi Petroleum PLC c/o Buchanan
Clive Carver, Chairman +44 (0) 20 7466 5000
WH Ireland plc
James Joyce / James Bavister +44 (0) 20 7220 1666
Buchanan (Financial PR)
Tim Thompson / Tom Hufton +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.