COMPANY OPERATIONS  

Roxi operates five exploration and production contract areas in the hydrocarbon basins of Western and Central Kazakhstan. The acreage represents a range of maturity in hydrocarbon exploitation, including established exploration, field appraisal, development, and field rehabilitation.



The BNG Contract Area (Ayrshagyl Field) is a 1,561km2 exploration contract area in the South Emba sub-basin of the Pre-Caspian Basin, in the Mangistau Oblast. The block is 40km from the super-giant Tengiz field. Roxi acquired a 58.4% interest in the block in February 2008, as a part of the Eragon acquisition. The acreage was newly awarded to the subsidiary operating company, BNG LLP in June 2007, and contains a large number of exploration opportunities at Jurassic, Triassic, Lower Permian and Middle Carboniferous levels. In addition there are several Soviet era discoveries including South Yelemes field, which the company plans to bring into Pilot Production in 2010. The company has acquired 580km2 of 3D seismic which is yielding a number of drillable prospects for 2010 and 2011, and further seismic is planned over the area in 2010.

Galaz Contract Area (NW Konys Field) is a 30km2 oil discovery in the Turgai Basin in Central Kazakhstan within the Kyzylorda oblast. Roxi acquired a 50.15% interest of Galaz LLP (the contract holder) in February 2008, as a part of the Eragon acquisition, and appraised and developed Cretaceous and Jurassic reservoirs in 2008 and 2009. A work-over and drilling campaign followed the acquisition of 3D seismic over the block early in 2008, The company anticipates NW Konus getting into Pilot Production in 2010.

Ravninnoe Contract Area covers 121km2 of the South Emba sub-basin of the pre-Caspian Basin. This block contains the Ravninnoe field which was discovered in the 1980's. Prior to drilling new wells, Roxi has commenced an appraisal programme on the field completing 3D seismic acquisition and re-entries of existing wells. The company has just drilled the first appraisal well on the field and anticipates early reserves growth in 2010. on Ravninnoe Field as a result of this activity.

Beibars Contract Area covers approximately 167km2 onshore near the Caspian coastline, south of the town of Aktau in the Mangistau Oblast. The block has exploration targets in the Jurassic, Triassic, and Palaeozoic horizons, which the company believes will yield a number of prospects after the interpretation of new 3D seismic.

Munaily Contract Area Area is a small rehabilitation project located 60km from the town of Kulsary in the Atyrau Oblast. The project is essentially the rehabilitation of a shallow oilfield with Cretaceous and Jurassic reservoirs at depths of 500-1600m. The field was re-licensed in 2004, after which Roxi acquired 58.4% interest, as a part the Eragon acquisition. One virgin reservoir has been identified and has tested at single well rates of ca. 80 bopd. Potential exists for further undepleted sands to provide modest near-term production. The company anticipates receiving Pilot Production consent for Munaily in 2010.

 

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