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.

Just in and noticed RXP flying,not sure why so i took some profit. Probably kick myself later on but could find nothong to justify such move,emt?
cyril

From t1ps.com
"Finally, I (EK) am buying Roxi (RXP) at 11.25p. Apparently this is currently a smidgin cheaper than Max (MXP). But buy both if you are taken with Kazakh oil."

Harry; I have(both) and doing nicely thank you. I consider RXP to be a
great stock,which offers low risk against high reward.
aimho
cyril

Flying today,selftrade offering 13.63p for 125,000. EK's approval has done wonders for the SP.
cyril

Updated blog for newbies:

http://roxi-petroleum.blogspot.com/

Thanks Kiwi7, nicely put together blog. BB.

1st read this from todays Indendent;
Roxi Petroleum

Our view: Sell

Share price: 10.5p (-0.5p)

The credit crunch has been a tough time for small-cap oil explorers, and it has been a tough time for Roxi Petroleum. "We struggled during 2008 to raise the funding we required to develop our assets at the pace we would have wished," the Kazakhstan-focused group acknowledged in yesterday's half-year results.

To keep work going on their best fields, Roxi put together a series of "farm-out" arrangements bringing in other companies to help defray the cost. Work is now under way at Ravninnoe and Galaz, following deals with Canamens and Arawak Energy respectively. Shareholders also approved a further tie-up with Canamens over the BNG asset last month, although the company's management is now working on a separate deal with Baverstock a shareholder in both Roxi and BNG.

The downside is the erosion of Roxi's portfolio. "Inevitably the result of the arrangements is that Roxi has a smaller interest in the assets it owns," the company said.

It is not all bad. Roxi has raised 600,000 through a new 10p share issuance and has agreed a $24m (15m) credit facility with the GEM Global Yield Fund in New York as a "safety net", and the company says it is now in a good position. "It appears that the financial markets are beginning to return to a more positive state and the recent movements in the oil price are encouraging," the chief executive, Rob Schoonbrood, says. Yesterday's results also show the company's losses for the six months down from $18.3m to $8.9m in response to savage belt-tightening.

But with the $5m Arawak loan set to convert to equity if it not repaid by next June, and global economic recovery far from certain, Roxi is a sell.


Now here's a summing up by an extremely capable PI;

Let's see what the house broker has to say and the note should be with us pretty soon, probably after the LG deadline tomorrow.

What is the guy @ the Independant smoking ?

Like many small E&P's, we are tight for cash to run the busines and have had to dilute our asset base to create the right deal for all. All E&P's farm down teir acreage ! it is impossible to fund intermediate and deep prospects without considerable cash and this is how the game works.The dilution is in the price that's why we are not @ 74p anymore and still priced to go pop imo !!!

We are in a very strong position to exploit our acreage ie -:

Have funding through Canamens to drill Ravinnoe and BNG
Have a $24M GEM finance facility should we need it
Funded to develop the 4 Galaz wells to 3000bopd of production through Q4
Have raised 600k in the market @ 10p

We will soon find out on outcome of Galaz discussions with LG although i suspect that we will run with the production in Q4. In this event we will be operationally self funding in early 2010 and no need to raise any more cash for day to day running of business. Funding already in place to drill acreage over next 2 years and no more dilution needed. We won't need the GEM finance and any short term cash requirement will likely be met by another small placing.

The dilution is in place. We do not need any more cash to drill our prospect base and any further development of the Galaz well beyond these 4 wells is likely to be funded by a small farm in and eventually from production.

We have production, soon to have more and have 3 serious wells to drill over the next 3 months. Sell ?? the guy from the Independant is an indiot !!!

Smarty

If you now look at the blog site posted on post 94 by Kiwi7.

Seems a chance to get in on the cheap to me??
aimho
cyril

Thanks for that.

Out most of yesterday and missed the RNS, which has granted an extension to the
MOU which was originally granted on 17th July,for an extra month???
SP making food progress and not surprised,must be somrthing of interest??

Extension of MOU

Roxi Petroleum plc ('Roxi'), announces that it has entered into an extension to its memorandum of understanding ('MOU') with LG International Corp. ('LG'), the Korean based multinational. The original MOU was announced on 17 July 2009, and was granted to allow LG exclusive access, until 30 September 2009, to Roxi's records in relation to the Galaz assets with a view to LG acquiring Roxi's interests in those assets in full.

The extension to the MOU grants LG continued exclusive access to the records until 31 October 2009.

cyril

Strong buying at the minute,
cyril

yep, good!

Very quiet on here considering yesterday's news,while its a little disappointing that
our stake in BNG has been reduced to 23.4% all funding now sorted and plenty to look forward to.
This w/end the extension to the MOU regarding Galaz is up,so we can expect news of the outcome (probably next week?)and the spudding of Rav should also be announced. All in all a very exciting few months for RXP,with a lot of upside,in fact if you take that the sale of Galaz(if successful)should raise something in the order of the present M/Cap,theirs a lot for free.
An excellent long term for the patient,with a some short term posslbilities?
aimho
cyril

Roxi announces that it has today written to shareholders notifying them of the posting of a shareholder circular and notice of General Meeting on its website (www.roxipetroleum.com). The General Meeting will take place at 10 a.m. on 17 November 2009, at the offices of College Hill, The Registry, Royal Mint Court, London EC3N 4QN.

Highlights of the shareholder circular are set out below and is followed by the text of the Chairman's letter included in the shareholder circular:

Highlights of revised proposed transaction:

Roxi alone will now contribute up to 35% of the interest in the BNG Contract area currently owned by Roxi and Baverstock that is proposed to be sold to Canamens (in two stages; Stage 1: 23% and, at Canamens' option, Stage 2: 12%) and will procure that Baverstock retains its current 40.59 % interest (the "Proposed Sale")




Baverstock has agreed that following the completion of the Proposed Sale the original $100 million work programme funding commitment made by Roxi to Baverstock at the time of the acquisition of Eragon will be reduced to $8.4 million (taking into account $50 million to be received from Canamens)




Canamens will pay Roxi up to $57 million (Stage 1: $32 million plus a $2 million bonus upon completion of Stage 1, and Stage 2: $23 million) for the sale of up to 35% interest in the BNG Contract area




Roxi in turn will then fund $50 million towards the BNG work programme commitments in 2009 and 2010




Up to $17.5 million of the monies advanced by Canamens will be treated as loan receivables to be repaid from BNG Contract area oil sales




When both stages of the Proposed Sale are completed the interests in the BNG Contract area will be Roxi 23.41%, Baverstock 40.59% and Canamens 35%




Rob Schoonbrood CEO commented:

"This is an important step for the Company and we are delighted to have secured funding for one of our principal assets."

cyril

While i scribbled this was released.

30 October 2009


Roxi Petroleum plc
("Roxi" or the "Company")


Operations update, Ravninnoe Oil Spuds Well 20


Roxi announces the spudding of well number 20 on the Ravninnoe Contract Area in
Western Kazakhstan, on 30 October 2009. The well is being drilled by Ravninnoe
Oil LLP ("Ravninnoe") (in which Roxi has a 30% interest), and is the first well
drilled following Canamens farm-in announced in November 2008.


The access road from the nearby town of Opornya and the well site were completed
by the end of August, and Parker Drilling Rig 247 was mobilised on 1 September
2009. The rig up and completion of the camp was accepted by Ravninnoe on the
29th October 2009.


The Ravninnoe field was discovered in the 1980's and has up to 57 mmbbls of oil
in place, but reported reserves of only 3.7 mmbbls proven + probable + possible.
This is an important well, the first to be drilled on the Ravninnoe field since
the 1980's, and is designed to acquire sufficient information about the
reservoir architecture, quality and productivity to enable the development of
the Field to proceed. The well will be drilled near the centre of the Ravninnoe
structure, offset from well number 8, which encountered hydrocarbons in the high
pressure Permo-Carboniferous section between 3200m and 3300m.

Seems now they can (and are) get on with it.
cyril

New Blog Entries:

BNG Deal: http://roxi-petroleum.blogspot.com/2009/10/roxi-finally-seals-bng-farm-out-deal.html

1st Rav well spuds (including research links and volumetrics): http://roxi-petroleum.blogspot.com/2009/10/roxi-spuds-first-well-on-ravninnoe.html

Unless the Galsz deal with LG (MOU now over)is positive then short term i can see the possibility of sub 10p.Not to worriied myself as we will retain production and with the latest news,funding is no longer an issue.So we could be looking at a buying opportunity.
This stock has certainly tested ones patience but imo, will come good in the not too distent future?
cyril

GM results and post meeting chat:

http://roxi-petroleum.blogspot.com/2009/11/results-of-general-meeting.html

7kiwi, thank you for your report,most informative. Whether to top up at the
present SP,which looks cheap and with some positive news close,would love too,but already heavily invested so i'll resist the temptation for now.
cyril

Something brewing(i think?) SP suddenly shooting up,no idea why.Could it be the Galaz deal finalised??
Absolutly no
idea,but we should find out
soon?
cyril

Would they have a 43% interest in the NK22 field thats was spudded on the 24th Nov. If so a month on they could have reached drilling depth and news imminent.