LONDON (ShareCast) - Central Asian oil and gas company Roxi Petroleum has reported encouraging results from drilling of its well 143 at its BNG asset on the edge of the Caspian Sea.

Roxi decided to drill the well to a depth of 2,750m - 250m deeper than originally planned. It said it had identified three intervals of interest at 2193m, 2216m and 2692m. It plans to perforate the well at 2692m before the rig is moved to start drilling another well.

The other levels of interest at Well 143 will be perforated and tested by a “work-over” rig. Depending on these results, 90 days of testing is planned to start later in the year.

Chairman Clive Carver said: “We are pleased that Well 143 shows similar characteristics to Well 806 with at least three intervals of interest, which will be further tested in the coming months.”

Shares in Roxi Petroleum were up 3.7% to 3.5p at 14:15 on Thursday.

TB

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