Roxi Petroleum provides update on discovery at BNG
ALMATY, Kazakhstan -- Roxi Petroleum updated the market with news of the deep discovery at its flagship BNG asset.
The BNG Contract Area is located in the west of Kazakhstan 40 kms southeast of Tengiz on the edge of the Mangistau Oblast, covering an area of 1,561 sq kms of which 1,376 sq kms has 3D seismic coverage acquired in 2009 and 2010.
Roxi has a 58.41% 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 m is targeting principally the middle Carboniferous formation at 4,390 m of the South Emba sub-basin.
As stated on 5 August 2014, oil and gas shows were detected at a depth of 4,332 m over the full 12 m core taken.
Roxi reported further core of 18 m has been successfully taken between 4,347 and 4,365 m, of which 5.62 m was recovered. Initial examinations of this core confirmed it to be grey limestone, microcrystalline, dolomitic, fissured, vuggy and oil saturated over its full length.
This makes the aggregate thickness of the gross oil-bearing interval at least 33 m.
As previously stated Roxi intends to continue core sampling until the oil shows disappear. The Company is now working on taking a third core sample between depths of 4,365 and 4,383 m.
The flow rate of the well will be assessed once the core sampling is complete.
Clive Carver, Chairman commented: "With the gross oil bearing interval now at least 33 m we continue remain excited by the potential of the deep horizons at the BNG Contract Area and look forward to establishing the full extent of this discovery."