Last 8.75 GBp
Change Today -1.00 / -10.26%
Volume 712.5K
RXP On Other Exchanges
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As of 11:30 AM 01/27/15 All times are local (Market data is delayed by at least 15 minutes).

roxi petroleum plc (RXP) Snapshot

Open
9.75 GBp
Previous Close
9.75 GBp
Day High
9.75 GBp
Day Low
8.75 GBp
52 Week High
09/1/14 - 25.25 GBp
52 Week Low
07/4/14 - 3.88 GBp
Market Cap
75.1M
Average Volume 10 Days
924.1K
EPS TTM
0.0005 GBp
Shares Outstanding
858.4M
EX-Date
--
P/E TM
266.0x
Dividend
--
Dividend Yield
--
Current Stock Chart for ROXI PETROLEUM PLC (RXP)

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roxi petroleum plc (RXP) Details

Roxi Petroleum Plc explores and produces crude oil in Kazakhstan. The company owns 58.41% interest in the BNG contract area, which covers an area of 1,561 square kilometers (km2) located in the Mangistau Oblast in Western Kazakhstan; and 34.22% interest in the Galaz block that covers an area of 179 km2 located in the Kyzylorda Oblast in Central Kazakhstan. It also holds 58.41% interest in the Munaily field, which covers an area of 0.67 km2 located in the Atyrau Oblast in Western Kazakhstan; and 50% interest in the Beibars contract area that covers an area of 167 km2 located on the Caspian shoreline. The company was founded in 2006 and is based in London, the United Kingdom.

112 Employees
Last Reported Date: 06/6/14
Founded in 2006

roxi petroleum plc (RXP) Top Compensated Officers

Chief Executive Officer, Director and Member ...
Total Annual Compensation: $145.1K
Executive Chairman, Company Secretary, Member...
Total Annual Compensation: $240.0K
Chief Financial Officer and Executive Directo...
Total Annual Compensation: $138.8K
Consultant
Total Annual Compensation: --
Compensation as of Fiscal Year 2013.

roxi petroleum plc (RXP) Key Developments

Roxi Petroleum PLC Provides as Operational Update BNG asset

Roxi Petroleum Plc announced further update the news of progress at its BNG asset. The BNG Contract Area is located in the west of Kazakhstan 40 kilometers southeast of Tengiz on the edge of the Mangistau Oblast, covering an area of 1,561 square kilometers of which 1,376 square kilometers has 3D seismic coverage acquired in 2009 and 2010. Roxi has a 58.41% interest in the BNG Contract Area. Deep Well 801: The company confirmed that Deep Well 801 has been spudded as planned. The well is to be drilled to a total depth of 4,700 meters targeting the Lower Carboniferous. The well is expected to reach Total Depth by mid April 2015. The well is being drilled on a turnkey basis by Sinopec, the Chinese multinational, at a fixed cost of $11 million. Deep Well 801 is located approximately 8 kilometres from Deep Well A5 and will be targeting the same structure as Deep Well A5 in the Lower Carboniferous. Deep Well A5L: Well Status update: The well was drilled to a total depth of 4,442 meters. Casing was set to a depth of 4,077 meters and the core sampling revealed the existence of a gross oil-bearing interval of at least 105 meters from 4,332 meters to at least 4,437 meters. Due to the high pressure in the well, the coil tubing equipment has become stuck at a depth of 2,996 meters. This has delayed the commencement of the 30-day flow test. Current position: Work continues to remove the excess drilling fluids and stuck core-tubing equipment. Encouragingly, despite the blocked well,oil continues to flow to the surface under its own pressure. It remains the position that the company expects to defer commencement of the 30-day well test until February 2015.

Roxi Petroleum PLC Announces Operational Update

Roxi Petroleum PLC announced update of the market with news of progress at its BNG asset and also to set out its corporate strategy for the medium term. The BNG Contract Area is located in the west of Kazakhstan 40 kilometers southeast of Tengiz on the edge of the Mangistau Oblast, covering an area of 1,561 square kilometers of which 1,376 square kilometers has 3D seismic coverage acquired in 2009 and 2010. Deep Well A5: The well was drilled to a total depth of 4,442 meters. Casing was set to a depth of 4,077 meters and the core sampling revealed the existence of a gross oil-bearing interval of at least 105 meters from 4,332 meters to at least 4,437 meters. The well will be tested on an open-hole basis. This is principally because there is a stuck pipe in the interval between 4,322 and 4,401 meters. The stuck pipe is not expected to affect the outcome of the test and they will seek to remove it following the completion of the test. Earlier this month the company announced that commencement of the 30-day well test at Deep Well A5 was dependent upon the removal from the sub-surface of fluids used in the drilling of the well, so that the oil may flow to the surface; an operation known as "cleaning-up" the well. The extremely high-pressure in the well (7,000 psi at surface) required the use of drilling fluids with a high density (2.16 g/cm3). Removing this high density drilling fluid has been problematic. Some of the excess drilling fluids were ejected due to these high well pressures, but it became clear that intervention would be required to complete the operation. As previously announced it was decided the best way to "clean-up" the well for testing would be using coil tubing equipment. This was sourced and transported to the well site and has speeded the clearing of the excess fluids. However, as also previously announced, the generator powering the coil tubing equipment failed necessitating a delay while a replacement generator was sourced. The majority of the drilling fluid is now thought to have been recovered to surface. The company estimated there are a further 25 cubic meters of remaining excess drilling fluid to be cleared from the well before testing can commence. Due to the high pressure in the well, the coil tubing equipment has become stuck at a depth of 2,996 meters. The coil tubing has been cut at a depth of 30 meters at wellhead and they are working with new contractors to remove it. Despite the stuck equipment and excess drilling fluid, oil has recently flowed to the surface naturally. There remains the possibility that the natural high pressure in the well will continue to expel the excess drilling fluid, making the recovery of the coil tubing easier.

Roxi Provides Operational Update

Roxi announced further update the market with news of the deep discovery at its BNG asset plus updates for the shallow wells at BNG and the Deep Well NK-31 at Galaz. 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. The company announced that the preparation work for the all important flow test continues as planned. Well stimulation work has been completed during which oil flowed, showing the reservoir is oil bearing with dissolved gas. The oil recovered is good quality light oil, brown in colour with a blue hue and has no hydrogen sulphide content. A full analysis of the oil will be available following lab test after the 30-day testing period. Wells 54, 805, 806 and 807 all drilled to depths between 2,500 and 3,000 meters have all produced oil from the Valanginian and Jurassic and are considered by Roxi to be commercial. Well 143, which was drilled to a Total Depth of 2,750 meters in 2013, is located some 5 kilometres from Well 806. The company also provided an update to progress at Well NK-31 on its Galaz Contract Area. Well NK-31, which is targeting the Middle Jurassic on the main Contract Area, has been drilled to a total depth of 2,642 meters with casing set to its full length. As previously announced core samples taken between 2,070 and 2,079 meters in the Karagansaisky horizon contain an interlayering of argillite and conglomerates.

 

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