Roxi issues Update on discovery at BNG
Roxi Petroleum plc announced the first core sample over the 12 meter range between 4,332 and 4,344 meters has been successfully completed with a 9.85m core recovered.
Initial examination shows the recovered core of dolomitic limestone and is porous, fissured and filled with oil.
At 4,344 meters depth a 5-10 cm layer of siliceous rock has been encountered.
Roxi’s management believes the oil bearing interval extends beyond the 12 meters referred to above and is seeking to take further core samples over an additional 18 meters between depths of 4,347 and 4,365 meters. Should as the management team expect the 18 meter interval show oil, further core samples will be taken until the full extent of the oil bearing intervals are established.
Once the depth of the oil bearing interval has been established testing work will focus on establishing flow rates for the oil encountered.
Further announcements will be made in due course.
Clive Carver, Chairman commented
“We remain delighted with these early indications and look forward to further quantifying what has been discovered in due course.”