LONDON (ShareCast) - Oil and gas explorer Roxi Petroleum has received the first payment from the sale of its stake in the Galaz asset in Kazakhstan.
In a statement released on Friday, the London-listed company said it had received the first $10.4m of the $23m it is owned following the sale of its 34.23% stake in the project.
In January, Chinese firm Xinjiang Zhundong Petroleum Technology, reached an agreement to acquire the asset for $100m.
Roxi added proceeds from the sale will be utilised for deep wells at the flagship BNG project.
Roxi shares were down 0.49% to 17.17p at 08:45 on Friday.
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