Roxi Petroleum Announces its Audited Final Results for the Year Ended 31 December 2013

Highlights for 2013 and to date in 2014:

Operational

*Successful shallow drilling campaign at BNG
*Commencement of first deep well at BNG
*Currently aggregate production across the portfolio 2900 bopd gross (1212 net to Roxi)
Financial
*US $40m equity commitment secured in January 2013 at 7.41p per share of which $24.5m has been drawn to date
*Net asset value per share 8.1p
*Loss after tax per share 0.78p

Comments

Clive Carver, Chairman commented
“Progress in the year under review and subsequently has been dramatic with multiple wells drilled including our first deep well, a number of positive test results and in recent months steadily growing production volumes.
The Group is well placed to consolidate these advances over the next 12 months with further well tests and drilling planned together with an update of the Company’s reserves.”