Roxi Petroleum: Galaz Update
Roxi, the Central Asian oil and gas company with a focus on Kazakhstan, is pleased to make the following operational update with respect to its Galaz asset.
Well NK14 was spudded on 25 June 2012. The well is an appraisal well intended to evaluate the main reservoir, at the Jurassic Sand and Lower Cretaceous levels.
The well is to be drilled to a Total Depth of 1400m and it is expected to take approximately 25 days to reach Total Depth, including time for coring and wireline logging.
As previously announced testing continues at NK7 using different choke sizes. At a choke size of 5mm the flow rate was 157 bopd, at a choke size of 6mm the flow rate was 186 bopd and at a choke rate of 7mm the choke rate was 259 bopd.
It remains the plan to perforate and test a second interval and then in July 2012 commence a 90 day production test on the well.
Clive Carver, Chairman said
“We remain encouraged by the testing results at NK7 and look forward to updating the market over the next week or so on developments there and in the next few weeks on NK14”