Roxi Petroleum Plc Spudding Shallow Well 141 (2244H)
August 16 2016 - 1:00AM
UK Regulatory
TIDMRXP
RNS Number : 2244H
Roxi Petroleum Plc
16 August 2016
Roxi Petroleum PLC
("Roxi" or the "Company")
Spudding Shallow Well 141
Roxi, the Central Asian oil and gas company with a focus on
Kazakhstan, is pleased to provide shareholders with the following
operational update.
BNG Contract Area
The BNG Contract Area is located in the west of Kazakhstan 40
kilometers southeast of Tengiz on the edge of the Mangistau Oblast,
covering an area of 1,561 square kilometers of which 1,376 square
kilometers has 3D seismic coverage acquired in 2009 and 2010. Roxi
resumed full control of BNG Ltd LLP in 2011.
In January 2016, Roxi announced that the area of the Contract
Area was extended with the addition of 140.6 square kilometres to
the north-east of the current block. The extended BNG Contract Area
now covers 1,702 square kilometers.
Development activities have focused on both deep drilling in the
Ayrshagyl area and shallow drilling in the Yelemes area.
BNG Shallow wells
BNG's shallow wells are located in the Yelemes portion of the
BNG block. They extend over an area of 800 sq. km. and are focused
on proving the extent of a number of promising horizons.
We are currently producing in aggregate 616 bopd (332 net to
Roxi) from 3 shallow wells.
For some time our belief has been that the shallow horizon
produced from by wells 54, 805, 806, & 807 extends
significantly further than the relatively small area in which they
were drilled.
Well 143, which was drilled to a depth of 2,750 meters on the
MJ-F structure located towards the North of South Yelemes field at
BNG. Well 143, which has produced at a maximum rate of 815 bopd
using a 7mm choke, is 3,000 meters distant from these other wells
and first indications from this well are that the shallow horizon
does indeed extend over a significant area.
Shallow well 141
Seeking to replicate the success of Well 143 Roxi is pleased to
announce that Shallow Well 141 has been spudded. The new well is
located some 1,150 meters from Well 143 with a planned depth of
2,450 meters.
As with Well 143 the new well is initially targeting Jurassic
Callovian sands at a depth of 2,200 meters with a secondary
objective in the Cretaceous Valanginian limestone at a depth of
1,900 meters.
The well is being drilled for a fixed cost of $1.25 million.
Comments:
Clive Carver, Chairman commented
"We continue to place importance on developing the shallow
portion of the BNG asset, in particular targeting structures where
we have already enjoyed success.
Income from these wells will be used in part to extend our deep
drilling programme."
Enquiries:
Roxi Petroleum PLC
Clive Carver, Chairman +7 727 375 0202
WH Ireland Ltd
James Joyce / James Bavister +44 (0) 207 220 1666
Abchurch
Tim Thompson / Nessyah Hart +44 (0) 207 398 7700
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 information is provided by RNS
The company news service from the London Stock Exchange
END
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