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Roxi receives Galaz contract area extension in Kazakhstan

11th July 2014

Roxi has received a licence extension and announced operational progress at its Galaz asset in Kazakhstan

Roxi receives Galaz contract area extension in Kazakhstan
Roxi has a 34.44 interest in the Galaz contract area

Roxi is pleased to announce the extension of the licence at the Galaz Contract Area for a further two-year period to 14 May 2016.  The licence has been extended on the current pilot production basis, although at the request of Galaz LLP may be converted to a full production licence.

The Galaz block is located in the Kyzylorda Oblast in central Kazakhstan. The contract area was extended on 10 January 2011 to 179 square kilometres and now includes significant exploration upside on the east side of the Karatau fault system, as well as the NW Konys development.

The operator is LGI, the Korean multi-national, which invested USUSD 34.4m by way of loans into the project and paid a further USD 15.6m in return for 40 per cent of the asset. A total of 30 square kilometres 3D seismic has been acquired and processed.

Roxi has a 34.44 interest in the Galaz contract area.

As previously announced, Roxi Well NK-31 has been spudded and is to be drilled to a total depth of 2,500 metres targeting the Middle Jurassic. The well is expected to reach total depth by the end of July 2014.  It is being drilled on the main contract area.

Drilling has reached a depth of 2,350 meters without incident. Core samples taken between 2,070 and 2,079 metres in the Karagansaisky horizon contain an interlayering of argillite and conglomerates.

High gas shows were detected when drilling at the depth of 2,283 metres (Doshan Suite). Core samples have been taken between 2,283 and 2,292 meters and preliminary, analysis shows the core consists of sandstones.

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