Roxi Petroleum (AIM:RXP) announced that it has spudded its first well on the Ravninnoe asset. This well, named Well 20, is effectively an offset from Well8, drilled during Soviet times.
It has previously been announced that Well 8 tested oil at 6-800bopd from the mid-Carboniferous horizon. The existing reserves associated with this field are quite modest, at 3.7mmbo proved + probable + possible.
However, the other holders of part of the Ravninnoe asset did at one time have their share of the asset up for sale through Envoi where it was disclosed that the mid-Carboniferous had expected Pmean gross reserves of 26mmbo (p7) and that there was also a deeper, lower-Carboniferous target with Pmean gross reserves of 27mmbo (p7). Roxi holds a 30% interest in the Ravninnoe block.
For further info and research links:
http://roxi-petroleum.blogspot.com/2009/10/roxi-spuds-first-well-on-ravninnoe.html
