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.

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.

Balerboy goto post K7's blog is where you'll find all relivent info.
cyri;

Wednesday, 9 December 2009
Roxi Names New CEO as David Wilkes

Roxi Petroleum (AIM:RXP) today announced the appointment of David Wilkes as CEO.

Of course David Wilkes joined the board on 1 October as Finance Director, so this move looks like a planned succession as the existing CEO, Rob Schoonbrood, retires at the age of 65.

Rob has worked extremely hard through the credit crunch to lay the financial foundations that will enable Roxi to drill the BNG and Ravninnoe contracts areas using finance raised from Canamens and to drill the Galaz block with the deal struck with KazRosMunai LLP.

Let's hope that David can build on these foundations and take the company to the next level. Results from the Ravninnoe Well #20 and Galaz Well NK22 cannot be too far away.
Posted by 7Kiwi at 13:23

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