Roxi All Smiles over NK7 Performance in Kazakhstan

Roxi Petroleum, the Central Asian oil and gas company with a focus on Kazakhstan, made the following operational update with respect to its Galaz asset.

NK7

On June 26, 2012, a 24.6 or 7.5 meter section of the well was perforated between 4,227.4 and 4252 feet (1,288.5 meters and 1,296 meters). Following a brief clean up the well was closed to allow a build up of oil.

The well was opened on June 30, 2012 using a 5 mm choke with oscillating flows between 51 and 449 bopd. By July 1, the rate had stabilized to some 300 bopd.

On July 4, 2012, the well was opened again this time using a 7 mm choke and the well flowed at some 335 bopd.

On July 11, 2012, the well was opened again this time using an 8 mm choke and the well flowed at between 530 and 620 bopd.

NK14

Roxi announced that well NK14 reached a total depth of 4521 feet (1,378 meters) on July 14, 2012.

A decision on testing will be made after wire logging.

"We remain extremely pleased with the performance of NK7 and look forward with interest to the wire logging results on NK14," Chairman Clive Carver said.

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