Roxi Petroleum Reports Oil Flows from BNG's Well 143

Roxi Petroleum announced Friday that oil has flowed from two intervals at well 143, which is situated in the company’s flagship BNG asset in Kazakhstan.

An initial test of one of the intervals, located at a depth of 8,832 feet, indicated a production average of around 100 barrels per day. Both intervals will be subjected to further testing to determine reliable flow rates. In addition to the aforementioned intervals, Roxi Petroleum has identified a further two intervals of interest in the well, which will be assessed after the testing of the two producing intervals.

Clive Carver, BNG chairman, commented in a company statement:

"For a long time we have held high hopes for Well 143 both as a standalone well and as a part of a wider structure. We believe the oil produced from two intervals indicates our optimism was well founded."

Well 143 was spud on April 1, 2013 and was drilled to a depth of 9,022 feet in June 2013. A “number of failed well tests” were experienced at well 143 before the flow of oil from the two intervals, according to a Roxi Petroleum statement.