Roxi Petroleum gets go-ahead for NW Konys Field
Shares of Kazakhstan focused Roxi Petroleum rose 10% after the Kazakh government gave the green light to gas flaring on the NW Konys Field for the next two years.
Shares of Kazakhstan focused Roxi Petroleum rose 10% after the Kazakh government gave the green light to gas flaring on the NW Konys Field for the next two years.
The Republic of Kazakhstan's Ministry of Oil & Gas approval, for the period 2012 to 2014, is the final regulatory consent needed before pilot production can start on the NW Konys Field.
CEO David Wilkes commented, "We and our partner LGI are now in a position to commence pilot production from two of our wells on NW Konys and at the same time will test the outcome of wells NK 9 and NK 10 in early in 2012."
Subscribe to 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
Roxi now expects Well NK 4 & NK 6 will be put into pilot production in the first quarter 2012.
--
cj
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
‘Inheritance tax insurance’ enquiries are soaring – but is it worth it?
Premiums for whole of life insurance can run to £5,000 a month to cover a £300,000 inheritance tax bill, with policies costing more the older you take them out.
-
MPs warn over Lifetime ISAs which could leave savers out of pocket
The Treasury Committee has highlighted confusion around the Lifetime ISA withdrawal charge, which risks consumers losing “a significant part of their savings”