Roxi Petroleum Makes Discovery at BNG Contract Area in Kazakhstan

Roxi Petroleum plc, the Central Asian oil and gas company with a focus on Kazakhstan, announced Wednesday news of a discovery at its flagship BNG asset in the pre-Caspian basin in Western Kazakhstan.

Background

The BNG Contract Area is located in the west of Kazakhstan 24.8 miles (40 kilometers) southeast of Tengiz on the edge of the Mangistau Oblast, covering an area of 1,561 square kilometres of which 602.7 square miles (1,376 square kilometers) has 3D seismic coverage acquired in 2009 and 2010.

Roxi has a 58.41 percent interest in the BNG Contract Area.

Deep Well A5

Well A5, the first deep well on the BNG Contract Area, with a planned Total Depth of 15,420 feet (4,700 meters) is targeting principally the middle Carboniferous formation at 14,402 feet (4,390 meters) of the South Emba sub-basin.

Roxi is delighted to announce that oil and gas shows have been detected at a depth of 14,212 feet (4,332 meters).

After the completion of clean-up work to deal with the oil and gas shows encountered, core samples will be taken to determine the oil bearing horizon.

Further announcements will be made in due course.

Comment

Clive Carver, chairman commented:

"We are naturally delighted with these early indications and look forward to quantifying what has been discovered in the coming days and weeks."

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