Roxi Petroleum: AGM Statement
BNG
Roxi has a 58.41% interest in the BNG Contract Area
Deep well – Airshagyl 5
Drilling has resumed and by Friday, 27 June 2014 reached a depth of 4,236 meters.
The well’s principal target is the Carboniferous formation at 4,390 meters with a subsidiary target in the Permian formation at 4,120 meters. To date we have 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.
The well’s planned Total Depth is 4,700 meters.
Shallow wells
At Well 143 the interval between 1,961-1,974 meters has been perforated prior to further testing.
Galaz
Roxi has a 34.4 per cent interest in the Galaz Contract Area.
Deep Well – NK-31
Well NK-31 was spudded in June 2014 and is to be drilled to a Total Depth of 2,500 meters targeting Middle Jurassic. As at 27 June 2014 the well had reached 1,904 meters without incident.
