28th Feb 2014 14:21
LONDON (Alliance News) - Roxi Petroleum said Friday that it was pleased with the progress of its wells in the Galaz block in Kazakhstan, as Well NK24 spudded and was drilled to a depth of 425 meters without incident.
The oil and gas company has drilled three wells at Galaz since 2012. Its NK-7 well has successfully tested oil at a daily rate of 186 barrels of our per day at a 6 millimetre choke size.
Its NK-8 well tested and flowed 197 barrels of oil per day, also at a 6 millimetre choke size, Roxi said, and 251 barrels of oil per day at 7 millimetres. NK-12 tested at a daily rated of 117 barrels of oil per day at a 8 millimetre choke size.
The NK24 well is targeting Jurassic and Cretaceous reservoirs and has a planned total depth of 1,500 meters.
Shares in Roxi were trading flat at 4.75 pence Friday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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