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.

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."

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Roxi now expects Well NK 4 & NK 6 will be put into pilot production in the first quarter 2012.

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