NK-10 Well Spudded 28 November 2011

Roxi Petroleum plc

("Roxi Petroleum" or the "Company")

Operational Update

Roxi Petroleum, the Central Asian oil and gas company with a focus on Kazakhstan, is pleased to announce that, following the successful drilling of the NK-9 well, the NK-10well was spudded on 28November 2011.

The well is planned to drill to a total depth of 1500 metres to appraise the Arskum discovery and the Upper Jurassic formation in the south channel of the Galaz block. Drilling operations are being coordinated by our operating partners LGI and are expected to take approximately 30 days, after which a further announcement will be made.

David Wilkes, CEO commented

"This is the next planned appraisal well on NW Konys that should firm up our understanding of the amount of oil in place, as well as provide us additional information on the reserves within the existing reservoir."

Enquiries

Qualified Person

Mr. Hyunsik Jang, Chief Operating Officer of the Company, has reviewed and approved the technical disclosures in this announcement. He holds a BSc in Geology and has 25 years of international experience in exploration, appraisal, and development of oilfields in a variety of environments.