LONDON (ShareCast) - The share price of Kazakhstan-based oil and gas group Roxi Petroleum more than doubled on Wednesday after the firm announced a discovery at its flagship BNG asset.

Roxi said it has found oil and gas shows at the well A5, the first deep well of the 58.41%-owned BNG Contract Area, 40km south-east of Tengiz in the west of Kazakhstan.

Core samples have been taken to determine the oil bearing horizon and further announcements will be made in due course, Roxi said.

"We are naturally delighted with these early indications and look forward to quantifying what has been discovered in the coming days and weeks," said Chairman Clive Carver.

The shares were up 116% at 8.63p by 10:10, valuing Roxi's market capitalisation at around £73m.

BC

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