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Roxi Petroleum spuds NK-9 well in Kazakhstan

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Roxi Petroleum (LON:RXP) today told investors that it has spudded the NK-9 well to appraise the Arskum discovery in Kazakhstan.

Drilling began on October 27 at 13:00 local time. Roxi expects the drilling work to last for 30 days.

NK-9 is being drilled to a depth of 1,500 metres to appraise the discovery of Arskum formation in the south channel of the Galaz block.  It is the first of three wells that Roxi intend to drill by the end of this year.

"I am delighted that after many months of preparation and dealing with the company's finances we are able to commence drilling on what we believe to be a promising asset,” said chief executive David Wilkes.

“We await with interest the results of the drilling.”

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Price: 2.8 GBX

AIM:CASP
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Market Cap: £52.96 m
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