Roxi Petroleum Plc BNG Operational Update (7243T)
January 10 2017 - 2:00AM
UK Regulatory
TIDMRXP
RNS Number : 7243T
Roxi Petroleum Plc
10 January 2017
Roxi Petroleum Plc
Roxi Petroleum plc ("Roxi" or the "Company")
BNG Operational update
Introduction
Roxi, the Central Asian oil and gas company, with a focus on
Kazakhstan, is pleased to update the market with news from its BNG
Contract Area.
Background
Roxi has a 58.41% interest in the BNG Contract Area, which is
located in the west of Kazakhstan 40 kilometers southeast of Tengiz
on the edge of the Mangistau Oblast, covering an area of 1,702
square kilometres.
The block has both shallow and deep areas of interest.
Deep Well A6
Well A6 was drilled to a total depth of 4,528 meters, completed
and then perforated within a 54-meter interval from a depth of
4,450 meters. The early indications are that the perforation will
need to be re-performed to enable a flow test to be conducted as
much of the targeted area for the original perforation remains
unperforated.
However, as the drilling equipment and the drilling fluid
required for the re-perforation has been moved to A5, the
re-perforation work at Deep Well A6 is planned to commence
following the completion of the side track planned at Deep Well
A5.
As previously announced potential gross oil-bearing intervals of
approximately 130 meters have been detected in Deep Well A6. While
an assessment of the net pay are yet to be determined Roxi
management continue to expect a positive outcome at this well and
on this structure.
Deep Well A5
As previously announced the intention at Deep Well A5 has been
to side-track the well from a depth of 3,800 to 4,000 meters. The
rig for the work has been on site for some time. Drilling pipes and
drilling fluid previously used at deep Well A6 have been
transferred to the A5 location. The preparatory work for the
side-track is underway and further announcements will be made in
due course.
MJF structure
Well 142
Since our last update, Shallow Well 142 has reached its total
depth of 2,450 meters and testing has commenced. As in wells 141
and 143 based on the mud and wireline logging data several
intervals of interest have been identified for testing.
The two wells drilled to date on the MJF structure, 143 and 141,
are producing at the rates of 640 bopd and 498 bopd. Aggregate
gross production from BNG, excluding well 142, is now 1,295
bopd.
Well 142 is a material step out well, located 1.6 km to the
north east of well 143 and therefore it has potential to confirm a
significantly larger scale for the MJF structure.
Clive Carver, Executive Chairman said
"The recent drilling successes at 141 and potentially at 142 are
further indications of the potential high value of the MJF
structure.
The need to repeat the perforation work at Deep Well A6 is
frustrating but the board believe it is unlikely to have any
material impact on the final outcome at the well, which we believe
remains very encouraging."
Comments:
Roxi Petroleum plc +7 727 375 0202
Clive Carver
Executive Chairman
WH Ireland, Nominated Adviser & Broker +44 (0) 207 220 1666
James Joyce
James Bavister
Abchurch +44 (0) 2017 398 7700
Tim Thompson / George Robinson / Rebecca Clube
Qualified Person
Mr. Nurlybek Ospanov, Roxi's senior geologist who is a member of
the Society of Petroleum Engineers ("SPE"), has reviewed and
approved the technical disclosures in this announcement.
This announcement has been posted to:
www.roxipetroleum.com/roxi/en/investors.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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