Roxi Petroleum, the Central Asian oil and gas company with a focus on Kazakhstan, has unveiled an operational update showing that testing has commenced at Well "NK-12" at its Galaz asset.
The AIM-listed company reported that the well was spudded on November 23rd at Roxi's NW Konys asset- also known as Galaz- where Roxi has a 34.22% interest.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Clive Carver, Chairman of Roxi Petroleum, commented:"We are pleased to report another successful well at Galaz. Once NK-12 is fully operational we expect gross production from the Galaz Contract Area alone to be more than 1,400 bopd and gross production from all of Roxi's assets to be 1,800 bopd with 870 bopd net to Roxi."
Roxi Petroleum's share price was up 6.06% to 4.38p at 10:26 on Friday.
MF
-
How inheritance tax trick is helping families save ‘six-figure sums’Happy to skip a generation to save thousands on inheritance tax? A deed of variation could be the estate planning tool you need.
-
Nationwide: House prices unexpectedly dropped in AugustHouse prices fell by 0.1% in August in a surprise drop, according to Nationwide, as “affordability remains stretched”
