Roxi's Deep Well Update

Further update on the Deep Discovery at BNG, Well 143 and Well NK-31

Roxi, the Central Asian oil and gas company with a focus on Kazakhstan, is pleased to further update the market with news of the deep discovery at its flagship BNG asset together with progress at its BNG shallow Well 143 and at Well NK-31 at its Galaz Contract Area.

Background

The BNG Contract Area is located in the west of Kazakhstan 40 kilometres southeast of Tengiz on the edge of the Mangistau Oblast, covering an area of 1,561 square kilometres of which 1,376 square kilometres has 3D seismic coverage acquired in 2009 and 2010.

Roxi has a 58.41 per cent interest in the BNG Contract Area.

Deep Well A5

Well A5, the first deep well on the BNG Contract Area, with a planned Total Depth of 4,700. meters.

On 5 August 2014 it was announced that oil and gas shows had been detected at a depth of 4,332 meters over the full 12 meters core taken.  On 11 August, following a second core sample, it was announced that the oil bearing interval was at least 33 meters.

Roxi is pleased to announce a third core sample of 18 meters has been successfully taken at a depth between 4,365 and 4,383 meters, of which 1.6 meters was recovered.  This shows the aggregate thickness of the gross oil-bearing interval extends to at least 51 meters.

Roxi now intends to determine the full extent of the oil-bearing interval by drilling and logging rather than taking additional core samples.  Once this has been completed and after delivery of additional equipment Roxi intends to put Well A5 on flow test.