Introduction to AIM in May 2007. Market Cap 64million at placing price of 38p per share.
Raised 39million from Institutions for building a portfolio of oil and gas assets in Central Asia.
Completed purchases of Ravninnoe and Beitars oilfields.
Strengthened company infrastructure.
Further aquisitions for 95million on 3 oilfields at North Karamandybas in Western Kazakstan. Value greater than current M Cap so treated as a reverse takeover, hence companies suspension from trading.
Option to aquire 50% intrest of two assets in Aktobe Oblast for 213million to be paid by cash or further flotation or a mixture of the two. Ownership of this asset is being contested in the courts and a decision is being currently awaited.

Seems the broker's note (Matrix) has released to the few and could be the reason for todays hike? If so they must have struck a cord with their clients
looking at the SP,so tomorrow expect it on their web site.
cyril

Lots of news expected here soon, so I am not surprised that things are turning around with the share price. Even so, the very excitable crowd over the road at advfn seem to have gone into overdrive about a 0.75p rise!

Broker Note:

http://roxi-petroleum.blogspot.com/2009/12/roxi-broker-note-released.html

Another ome of my holdings (larger in this case)making good headway,it's been a long slog lately but [atience seems to be paying off?
2 wells iminemt RAV and GAlaz,i'm hopeing the rise is for leaked news(naughty)
and not traders speculating?
cyril

News (via e0mail) of Rav is out next week,with Galaz to follow? No guarantees but
drilling into a oil discovery from the 80's.
cyril

Successful drilling of Rav,testing to follow.Ravninnoe Update


Highlights:


* Ravninnoe Well 20 drilled to 3455m, encountering hydrocarbons
* Wireline logs confirmed a gross 30m hydrocarbon column
* Testing planned in February

Roxi Petroleum plc ("Roxi" or the "Company") announces that Ravninnoe Well 20
(Roxi interest 30%) reached a total depth of 3455m, after encountering
hydrocarbon shows while drilling and coring the pre-salt Carboniferous section.
Wireline logs confirm the presence of a gross hydrocarbon column of
approximately 30m, with higher than expected pressure. Ravninnoe Oil LLP
("Ravninnoe") has released Parker Rig 247 and plans to mobilise a work-over rig
immediately to test multiple reservoir intervals.
The Ravninnoe Field was discovered in the 1980's when 12 wells were drilled on
and around the structure, but failed to establish commercial reserves.
Subsequently, Ravninnoe has acquired 3D seismic and re-entered the old wells,
which were found to be too severely damaged to test. Roxi announced the farm-out
and sale to Canamens (32.5%) in August 2008. The deal was eventually closed in
June 2009, following which Ravninnoe started the drilling programme and the
acquisition of high quality core, log and test data.
David Wilkes, CEO commented:
"I am delighted that we, with our partners, have completed the successful
drilling of well 20. The information which we have acquired will allow us to
reveal the potential of the Ravninnoe accumulation and if determined to be
commercial, bring the field into production."

cyril

Chance to acquire some cheap stock as the market is slow on the uptake with this one?
http://www.investegate.co.uk/Article.aspx?id=201002031038516031G
cyril

New blog post with my commentary on today's RNS:

http://roxi-petroleum.blogspot.com/2010/02/roxi-releases-operational-update.html

http://www.stockopedia.co.uk/forum/view/37233-roxi-petroleum-rxp-operational-update

Not accepting this now?

Seems below radar but come the 28thFeb Oilvarrel coverage will help.

Some excellent news,

11 February 2010

Roxi Petroleum plc

Sale of Galaz Interest

Roxi Petroleum plc ("Roxi" or the "Company")(ticker: RXP) is an AIM listed exploration and production company operating in Kazakhstan.

Highlights:

Back to back agreements signed on Galaz:
- LGI to purchase a 40 per cent. interest in Galaz
- LGI financing $26 million for appraisal & development of NW Konys field
- GEBV to sell 40 per cent. interest in Galaz and will receive $24 million from LGI

Galaz

Roxi is pleased to announce that, together with its partners Roxi's indirect 59 per cent. owned subsidiary Galaz Energy BV ("GEBV"), it has agreed through back to back agreements to sell a 40 per cent interest in the operating company for the NW Konys Field, Galaz and Company LLP ("Galaz") to the Korean multinational trading company LG International Corp. ("LGI") for US$15.6 million. In addition, LGI will pay US$8.4 million for a 40 per cent. interest in existing debt of an equivalent value, which will be repayable through future production. LGI will also provide financing to Galaz of up to $26 million for appraisal and development of the NW Konys field. Management considers these funds will be sufficient to finance this project through to commercial production. GEBV currently has a 73.4 per cent. interest in Galaz, but as part of the back to back agreements GEBV will acquire a 24.6 per cent of Galaz from its other local partners. Following the sale of 40 per cent. of its interests to LGI, GEBV will retain a 58 per cent. interest in Galaz.

As part of the above arrangements, Roxi has varied the terms of the previous agreement with KazRozMunai LLP, announced on the 19 November 2008, such that GEBV will now pay for services provided towards the work programme, rather than transferring any equity participation in Galaz to KazRozMunia LLP. Together the above are referred to as the "Galaz Agreements."

The Galaz Agreements are subject to due diligence by LGI and the receipt of certain waivers from the regulatory authorities. However, if the Galaz Agreements are completed as expected by Roxi management, the company will retain an indirect 34.2 per cent. participating interest in Galaz, and be provided with approximately US$10 million funding available for other assets.

David Wilkes, CEO of Roxi Petroleum said

"Completion of the Galaz agreement with LGI will mark a turning point for Roxi. Not only would we retain a meaningful interest in this producing asset, but we would secure substantial funding of its work programme commitments. This together with our recent completion of our farm out deals with Canamens puts Roxi in a strong position to develop its existing assets and achieve production by the end of the year."

cyril

Todays news seriously de-risks RXP and yet little SP movement making an
ideal chance to buy in/top up.The only reason imv market is waiting on the Greek salvage plan,perhaps prudent to hold back until the result is known,but as i said a great buying opportunity?
aimho
cyril

New CEO buys at 1st opportunity.

The Company was notified on 11 February 2010, David Wilkes, Chief Executive Officer of the Company, acquired 262,000 Ordinary Shares in the Company on 11 February 2010, at a price of 9.5 pence per share:

cyril

Following the issueing of options at 12p and nicely tined prior to Oil Barrel
presentation(just starting),some excellent news which de-risks the compamy.


Kazakhstan oil explorer, Roxi Petroleum says that it has made a second discovery on the Galaz Contract Area, encountering 12.8 metres of net pay in good quality lower Cretaceous, and Upper Jurassic aged reservoir formations.

CEO David Wilkes states: "This represents the sixth consecutive oil well drilled by Roxi in the past 14 months.

" It is an exciting discovery of a satellite accumulation to NW Konys field in the Galaz Contract Area which will allow Roxi to add to pilot production expected to start in Q2."

cyril

http://roxi-petroleum.blogspot.com/2010/02/roxi-petroleum-rxp-oil-barrel-report.html

And about the Galaz discovery:

http://roxi-petroleum.blogspot.com/2010/02/roxi-petroleum-rxp-announces-galaz.html

kiwi7 yjanks for your efforts,mudh appreidated.

David Wilkes CEO. has taken this opportunity to increase his holdings by a further 102,000.
cyril

It's a shame the market doesn't appreciate it but I guess we have to accept it is going to be a long haul

DD i agree but with LGO now invovled it seems (via Galaz)an offer will come somewhere down the line and meanwhile a safe looking set of fundimentals?
cyril

Up a touch again this morning, but so much more to come.

From yesterdays share mag,
kazakh based oil explorer roxi petroleum is set for a packed 2010 work programme that should produce steady news flow to support its share price. A reserves upgrade could also follow before the end of the year to act as a further catalyst making the shares a buy at 9.75p.

The group plans to drill around 19 exploration, production and appraisal wells over the next 12 months and should be fully funded for this activity after signing a farm out agreement with private oil firm canamens on its core BNG block in October last year, it also agreed to sell a 40% stake in the Galaz joint venture company, which operates the NW Konys oil field to Korean multi-national LG International earlier this month. Combined with the farm out to Canamens of part of its stake in the Ravinnoe field back in 2008, the deal has brought around $120 million worth of investment into its acreage.

The 40 million market caps strategy involves bringing proven undeveloped discoveries in Kazakhstan onstream using modern technologies and drilling techniques. By the end of 2010 the company, which is not yet producing oil say its output will be around 2,000 bopd.

Roxi has five main blocks in the country the aforementioned Rav, BNG and Galaz assets as well as the much smaller Munaily oil field and Beibars exploration block. The company is looking to farm out its interest in the latter at some point this year. Shares Says....The companys 2010 work programme is impressive and should prompt an increase in the share price

And this am the new CEO buys his 3rd lot if shares in 15days.
News on the horizon.
cyril

Creeping slowly back towards where I plunged in some 18 mnths ago.

To think it was meant to be a day trade and I was up at one point!!