Roxi Petroleum plc, the Central Asian oil and gas company with a focus on Kazakhstan, provided an update Friday with news of a license extension and of operational progress at its Galaz asset in central Kazakhstan.
The Galaz block is located in the Kyzylorda Oblast in central Kazakhstan. The Contract Area was extended Jan. 10, 2011 to 69.1 square miles (179 square kilometers) and now includes significant exploration upside on the east side of the Karatau fault system, as well as the NW Konys development.
Roxi is pleased to announce the extension of the license at the Galaz Contract Area for a further two-year period to May 14, 2016. The license has been extended on the current pilot production basis, although at the request of Galaz LLP may be converted to a full production license.
As previously announced Roxi Well NK-31 has been spudded and is to be drilled to a total depth of 8,202 feet (2,500 meters) targeting the Middle Jurassic. The well is expected to reach Total Depth by the end of July 2014. It is being drilled on the main Contract Area.
High gas shows were detected when drilling at the depth of 7,490 feet or 2,283 meters (Doshan Suite). Core samples have been taken between 7,490 and 7,519 feet (2,283 and 2,292 meters) and preliminary, analysis shows the core consists of sandstones.
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