Roxi firms up BNG pay

London-listed Roxi Petroleum has firmed up more pay in a deep discovery made within its BNG contract area in western Kazakhstan.

Roxi revealed on Monday, based on additional drilling and mud logging, the oil bearing interval in the Airshagyl-5 (A5) well had been interpreted to be at least 105 metres, running from a depth between 4332 and 4437 metres.

This more than double the original estimate given last month when Roxi announced the well had intersected a 51-metre gross oil bearing interval.

Roxi said it had decided to complete the well at 4442 metres due for safety reasons related to different pressure and temperature conditions at lower depths.

Following the completion of the well, the company plans to run and set a liner and carry out flow testing.

"The 105 metres gross interval is an excellent outcome,” Roxi chairman Clive Carver said.

“How far further the interval extends will be for another time to determine. More than ever we look forward to the results of the flow test."

Roxi said its next BNG well, Airshagyl-6, was now planned to target levels below 4437 metres.

Roxi holds a 58.41% interest in the BNG contract area which lies 40 kilometres south-east of Tengiz on the edge of the Mangistau region.

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