30th Apr 2015 07:30
LONDON (Alliance News) - Roxi Petroleum PLC Thursday said the deadline for the completion of the sale of the company's interests in the Galaz contract area has been extended to May 20.
In February, Roxi agreed to sell its equity and debt interests in the Galaz contract area in Kazakhstan for net proceeds of USD20.7 million to a consortium led by Chinese firm Xinjiang Zhundong Petroleum Technology Co.
The Galaz block is located in the Kyzylorda Oblast in central Kazakhstan. Roxi currently has an effective 34.22% interest in the licence for the Galaz contract area.
The original deadline for the deal to be completed was April 30 which has now been extended to May 20, said Roxi in a statement.
Roxi shares were down 8.8% to 14.03 pence per share on Thursday morning.
By Joshua Warner; [email protected]; @JoshAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
RXP.L