Roxi Petroleum Announces Operational Update

March 11, 2013

Roxi, the Central Asian oil and gas company with a focus on Kazakhstan, is pleased to update the market with developments at its Galaz asset.

Galaz

Well NK-12 was spudded on 23 November 2012 at Roxi's NW Konys asset (Galaz), where Roxi has a 34.22 per cent interest.

Roxi is pleased to announce that on 2 March 2013, testing commenced on Well NK-12 at an interval in the Cretaceous zone where oil flowed at a rate of 117 bopd using an 8mm choke.

Comments

Clive Carver, Chairman, commented:

"We are pleased to report another successful well at Galaz. Once NK-12 is fully operational we expect gross production from the Galaz Contract Area alone to be more than 1,400 bopd and gross production from all of Roxi's assets to be 1,800 bopd with 870 bopd net to Roxi.

SOURCE Roxi Petroleum Press Office