Roxi Petroleum Plc Operational Update (5840R)
June 30 2015 - 2:01AM
UK Regulatory
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RNS Number : 5840R
Roxi Petroleum Plc
30 June 2015
Roxi Petroleum PLC
("Roxi" or the "Company")
Update on operations at BNG
Roxi, the Central Asian oil and gas company with a focus on
Kazakhstan, is pleased to further update the market with news of
progress at its flagship BNG asset.
Deep Wells
Deep Well A5
The well was spudded in July 2013 and drilled to a total depth
of 4,442 meters with casing set to a depth of 4,077 meters to allow
open hole testing. Core sampling revealed the existence of a gross
oil-bearing interval of at least 105 meters from 4,332 meters to at
least 4,437 meters.
In February 2015, we announced that the major part of coil
tubing had been removed from the well. The 50 meters of coil tubing
remaining in the well, which still contained drilling fluids, was
trapped at a depth of 2,996 meters with a metallic object believed
to have been dropped during the clean-up works.
The blockage at Deep Well A5 has now been cleared and pressure
in the well has returned to levels encountered when it was
originally drilled. The stuck pipe at the bottom of the well
remains but is not expected to affect the outcome of the 30-day
well test.
The equipment required for the 30-day test has been delivered to
site and the test is set to start following the completion of the
required preparatory work.
Deep Well 801
Deep Well 801 was spudded on 15 December 2014 with a planned
Total Depth of 4,950 meters. The well is located approximately 8
kilometers from Deep Well A5 and was planned to target the same
structure as Deep Well A5 in the Middle and Lower Carboniferous.
The well is being drilled by Sinopec, the Chinese multinational, at
a fixed cost of $11 million.
As previously reported core samples and logging have revealed a
potentially oil bearing interval starting from 4,536 meters and
extending 100 meters. The pressure and temperatures encountered
indicate this well is unlikely to be connected to the reservoir
targeted by Deep Well A5. Therefore should Deep Well 801 prove
commercially viable it would be a separate discovery to the
potential discovery previously announced in connection with Deep
Well A5.
At the date of this report the casing has been set to a level of
4,790 meters and drilling has resumed to a new planned total depth
of 5,100 meters targeting Lower Permian and Middle & Lower
Carboniferous oil bearing reservoirs. Further, should oil-bearing
reservoir be revealed, core samples will be taken as appropriate
during the final 310 meters drilling.
Shallow wells
Wells 805, 806, 807 and 54 are on test production with average
daily production from 4 wells of 37 tons or 280 barrels of oil per
day ('bopd') (165 bopd net to Roxi).
Well 143 currently is under workover to survey interval between
2,704 - 2,706 and 2,692 - 2,693 meters (Middle Jurassic J2).
Clive Carver, Chairman said
"Progress at the BNG deep wells can best be described as steady.
However, we look forward to reporting the results of our ongoing
work in the near future."
Enquiries:
Roxi Petroleum PLC Clive Carver, Chairman
+7 727 375 0202
WH Ireland Ltd James Joyce / James Bavister
+44 (0) 207 220 1666
Qualified Person
Mr. Nurlybek Ospanov, Roxi's senior geologist who is a member of
the Society of Petroleum Engineers ("SPE"), has reviewed and
approved the technical disclosures in this announcement.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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