Roxi's Well 135 to Be Plugged, Abandoned
Roxi announced the following update for its operations in Kazakhstan:
BNG Ltd (Roxi Interest 23.41%)
Well 135 was drilled to a total depth of 2950m on February 10, 2011. Despite encountering shows over much of the target Jurassic interval, wireline logging has confirmed that there are no zones of commercial interest and the well will be plugged and abandoned.
This well tested a single play type and has given the Company and its partners in BNG useful information for de-risking the forward exploration program. Following abandonment of well 135, BNG will re-evaluate the current drilling program to incorporate new prospects being generated from the newly acquired 3D seismic, which completed processing in December.
David Wilkes CEO commented, "We are disappointed that well 135 failed to find producible hydrocarbons, however we have learned valuable information about the trapping potential of the Jurassic reservoirs, and will use this to increase the success rate of future exploration drilling on the block."