Roxi Petroleum: Receives $6.9m As Part of Galaz Sale

Further to the announcement of 1 June 2015 extending the completion date of the sale of the Company’s equity and debt interests in the Galaz Contract Area to a consortium led by Xinjiang Zhundong Petroleum Technology Co, a Chinese publicly traded conglomerate, (the “Galaz Disposal”), Roxi, announces that it has received the repayment of the $6.9 million loan.

A payment of $27 million to Roxi’s subsidiary Galaz Energy BV remains outstanding, of which $16 million will be attributable to Roxi. These amounts are expected to be received within the next week.

Once received formal completion of the sale will take place.