REG - Roxi Petroleum Plc - Discovery at BNG <Origin Href="QuoteRef">RXP.L</Origin>

Caspian SunriseAnnouncement

06/09/2014 14:29

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RNS Number : 7903L
Roxi Petroleum Plc
09 July 2014 
 
For immediate release                                                         
             9 July 2014 
 
Roxi Petroleum plc 
 
("Roxi" or "the Company") 
 
Discovery at BNG 
 
Roxi, the Central Asian oil and gas company with a focus on Kazakhstan, is
pleased to update the market with news of a discovery at its flagship BNG
asset. 
 
Background 
 
The BNG Contract Area is located in the west of Kazakhstan 40 kilometres
southeast of Tengiz on the edge of the Mangistau Oblast, covering an area of
1,561 square kilometres of which 1,376 square kilometres has 3D seismic
coverage acquired in 2009 and 2010. 
 
Roxi has a 58.41 per cent interest in the BNG Contract Area. 
 
Deep Well A5 
 
Well A5, the first deep well on the BNG Contract Area, with a planned Total
Depth of 4,700 meters is targeting principally the middle Carboniferous
formation at 4,390 meters of the South Emba sub-basin. 
 
Roxi is delighted to announce that oil and gas shows have been detected at a
depth of 4,332 meters. 
 
After the completion of clean-up work to deal with the oil and gas shows
encountered,  core samples will be taken to determine the oil bearing
horizon. 
 
Further announcements will be made in due course. 
 
Comment 
 
Clive Carver, Chairman commented 
 
"We are naturally delighted with these early indications and look forward to
quantifying what has been discovered in the coming days and weeks." 
 
Enquiries 
 
RoxiPetroleum PLC 
 
Clive Carver, Chairman                                                        
+44 (0) 20 7220 1666 
 
WH Ireland plc 
 
James Joyce / James Bavister                                              +44
(0) 20 7220 1666 
 
This information is provided by RNS
The company news service from the London Stock Exchange