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Roxi provides disappointing Kazakhstan update ahead of AGM

30th June 2014

Roxi Petroleum, a Kazakhstan based oil and gas company, has been unable to report any significant hydrocarbon finds ahead of its AGm later today

Roxi provides disappointing Kazakhstan update ahead of AGM
To date, Roxi has yet to find indications of oil from the subsidiary target horizon

At the deep well Airshagyl 5 drilling resumed and by 27 June 2014 reached a depth of 4,236 metres.

The well's principal target is the Carboniferous formation at 4,390 metres with a subsidiary target in the Permian formation at 4,120 metres.

To date, Roxi has yet to find indications of oil from the subsidiary target horizon.

Given the pressures and temperatures involved drilling will continue at a slow pace and further announcements will be made as the work progresses towards the principal target.

Deep well NK-31 was spudded in June 2014 and is to be drilled to a total depth of 2,500 metres targeting Middle Jurassic. As at 27 June 2014 the well had reached 1,904 metres without incident.

The well's planned total depth is 4,700 metres.

A shallow well 143 the interval between 1,961-1,974 metres has been perforated prior to further testing.

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