1st Sep 2014 08:36
LONDON (Alliance News) - Roxi Petroleum PLC Monday said additional drilling and mud logging at the A5 deep well on the BNG Contract Area has revealed the thickness of the gross oil-bearing interval is now at least 105 meters, between 4,332 meters and 4,437 meters.
For safety reasons, the company plans to complete the well at 4,442 meters. Once the well has been completed by setting a liner, flow testing will commence.
The BNG Contract Area is located in the west of Kazakhstan, and Roxi holds a 58.41% interest in the area.
Roxi's next deep well, A6, is planned to allow targeting of levels below 4,437 meters.
"The 105 meters gross interval is an excellent outcome...more than ever we look forward to the results of the flow test" said Chairman Clive Carver.
Roxi Petroleum shares were up 2.1% to 23.35 pence per share on Monday morning.
By Joshua Warner; [email protected]; @JoshAlliance
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