News Soon After reading the last RNS again, I am confident ROXI can only come out with excellent news. The only thing you need to have is a lot of patients, which soon will be rewarded in full.Where there is guaranteed oil discovery, that is where my money is safe. Pay Day is nearly here.Roxi Petroleum PLC ("Roxi" or the "Company" Operational Update Roxi, the Central Asian oil and gas company with a focus on Kazakhstan, is pleased to update the market with news of its flagship BNG asset. Shallow Wells Recent activity at our shallow wells has been focused on Well 143, which is currently producing at the rate of 623 bopd through a 5mm choke. Later this week a 6mm choke will be tested. Total production from our shallow wells is running at the rate of 865 bopd (510 bopd net to Roxi). Deep Wells Deep Well A6 Deep Well A6 was spudded in early November 2015 and is to be drilled to a planned total depth of 5,000 meters. Following a pause to set casing to a depth of 3,727 meters and the installation of high pressure blowout preventers drilling has resumed and has reached a depth of 3,835 meters. Based on our interpretation of seismic surveys and the experience from the two previous deep wells we expect to reach a potentially oil bearing zone after a further 300 meters. Deep Well A5 Deep Well A5 was drilled to a depth of 4,442 meters, and for brief periods of up to two hours at a time the well flowed oil at the rate of 2,000 bopd before becoming blocked by the accumulation of unrecovered heavy drilling fluids becoming set in the oil pipe. The rig initially identified for testing was used on other activities but is now back on site for a new attempt to clear the blocked well using coil tubing equipment. Deep Well 801 As previously reported Deep Well 801, which was drilled to a depth of 5,050 meters, has suffered from blockages caused by excess drilling fluids. Following extensive chemical cleaning the pressure in the well has grown to 240 bar. Our intention is to open the well for testing once the pressure reaches 300 bar. Comment Clive Carver, Chairman said "We remain pleased with the progress at our shallow wells and continue to work to allow the commencement of testing of the two completed deep wells A5 and 801. At Deep Well A6 we look forward to the findings from the drilling of the potentially oil bearing section. Qualified PersonMr. 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. Enquiries Roxi Petroleum PLC Clive Carver, Chairman +7 727 375 0202 WH Ireland plc James Joyce / James Bavister +44 (0) 20 7220 1666
Re: Something is happening Aye summit's up all right............
Something is happening Looks like Good News update this week.Pressure is building up, about to **£££$££$£$£$£$£$££$$££****
Looking awful. This lot are taking the proverbial with their time frames.
looking Good nice stready rise over the last few days, maybe news being leaked, were on our way to 2,000Bpd from A5??GLA LTH or maybe weve hit the Black Oil over at A6 Drill site.
gathering Pace looks like we have broken through the single digit barrier, now onwards and upwards from here, GLA LTH much need news soon please, Clive, I could do with cheering up after the GKP loss today, im much better in here, me thinks,
News Due anytime, imo, just need this one to come in with a sniff of good news and i will be well happy, i could possibly even begin to forget my losses in GKP, GLA LTH added a big chunk in here from my 88e profits , fingers crossed
Prepared to wait for good news. As another poster put it, you would not put a dog out in this environment let alone an RNS (good or bad). The last ops update did say they would only RNS when there was something of substance to report. I just hope it is all good, and we get it before the Easter break.
Re: here we go Sooner the better, it`s been a long wait!
here we go nice rise today, looks like we will be in double digit territory soon, good news on the way ?GLA LTH about time we moved on from here
News soon been a while since last update, news should be arriving this week , lets hope its good, a new discovery would go down well and progress on A6 hitting the vuggy stuff would go down well.GLA LTH fingers and toes crossed
Re: On the up Indeed. Despite a very positive RNS the volumes remain very low. I think this is staying on everyone's watch list whilst they deploy money elsewhere until the company shows some real progress. Everything is being set up very nicely but we need positive test results for people to trust in the company and to kick this sp back into the twenties. The company hasn't got a great track record with drilling fluid over the last 18 months...but once the test results come through this will bounce very quickly, in my opinion.
Re: On the up RNS today is not bad - so why does the darned sp keep dropping?
I understand that BNG license has multiple prospects in addition to the two that they have drilled and found oil, so immediate focus should be to develop the deeper horizon and extend drilling on shallow prospects to capitalise on investments to date. Other prospects provide ample opportunity for further exploration at a later date
Richyp123 - think they are unlikely to look at Mxp as is riddled with debts and has been managed so badly. Immediate focus more likely consolidate existing assets and develop BNG.