Roxi announced that exploration well NK22, drilled by its subsidiary "Galaz and Company" LLP, has encountered 12.8 meters of net pay, determined from wireline logs, in good quality lower Cretaceous, and Upper Jurassic aged reservoir formations (the primary objective). The well was drilled to a total depth of 2840 metres to evaluate Middle Jurassic potential on the block. Casing will be run, prior to testing the well.
David Wilkes, CEO said, "This represents the sixth consecutive oil well drilled by Roxi in the past 14 months. It is an exciting discovery of a satellite accumulation to NW Konys field in the Galaz Contract Area which will allow Roxi to add to pilot production expected to start in Q2."
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