Roxi Petroleum Share Discussion Threads

[xclusive2] 04/11/2016 12:26

Can peeps stop selling and let this thing go !

Control,

No gloating from me YET as we know what can go wrong when Roxi involved but i believe it may go on a little run pre Xmas. I took a small position on HUR to keep you company and hoping that Q1 delivers a little return there.

S

[togglebrush] 04/11/2016 07:26

Synopsis historic and interim data of BNG zone for MAP shown linked in post 33776. BNZ is the main, but only one of 3, zones of interest for Roxi.

Roxi acquired a 58.41% interest in BNG Ltd LLP in 2008, and in 2009 entered into a farm-out agreement with Canamens to fund the work programme for the initial exploration period. The block covers an area of 1,561 square kilometers and lies in the South Emba Sub-basin 40 kilometers to the southeast of Tengiz field.

June 2015, the BNG licence was successfully renewed for a further three- year period to 7 June 2018. Plan to seek a full production licence to run for either 25 or 49 years depending on the reserve position at that time

2015 granted an extension to the BNG Contract Area of some 140.6 sq km to the north-east of the current block was $2 million and has been paid by Roxi. Intend to acquire 3D seismic data on the new territory before finalising its drilling plans. Deep Wells A5, 801 & A6, which the Company believes extends into the new extension area.

Production from 5 operational shallow wells which are currently at the rate of 1065 barrels of oil per day ("bopd") (622 net to Roxi). There are two sub zones:-
'
1) South Yelemes portion of the BNG block where 4 wells have been drilled to date, including the producing wells 54, 805, 806 & 807. (well 54 is currently closed and in extended workover and recompletion.)
'
2) MJF structure is to the north of the South Yelemes wells.
'
Well 143, drilled in 2013 best performing of Roxi's shallow wells. Recently production increased 630 bopd
'
New Well 141, which is 1,200 meters SW of Well 143. To be drilled to a Total Depth of 2,500 meters

ALSO SEE for greater pictorial data from 2011
'


EandOE

[ngms27] 03/11/2016 18:25

Smarty, generally you would only core the discovery well to better understand the physical properties. If this is the same structure and log and pressure readings are consistent then it would be pointless coring again.

[bullinachinashop3] 03/11/2016 17:06

Chart looks great. Turn it upside down. Loads going on Zak Mir tipped, which irland update looking good.

[togglebrush] 03/11/2016 16:49

FWIW_____Tengiz Reserves and production see also MAP posted 33778 (Wikipedia)

Estimated at up to 25 billion barrels (4.0×109 m3) of oil originally in place, Tengiz is the sixth largest oil field in the world; recoverable crude oil reserves from Tengiz and Korolev fields combined have been estimated at 6 to 9 billion barrels (950×106 to 1,430×106 ;m3).

Korolev field alone holds 1.5 billion barrels (240×106 m3) of oil making it one-sixth the size of Tengiz. Like many other oil fields, the Tengiz also contains large reserves of natural gas. The field is one of the world's largest oil fields, rivaling the Gulf of Mexico in reserves of oil.

[xclusive2] 03/11/2016 16:30

Togglebrush,

Let's hope the BNG contract area will have a lot more green shaded areas over the next few years, the size of Tengiz would be good. Maybe we've got more elephants than first thought and our additional acreage that hasn't had the seismic treatment yet, has a few more ! Maybe good ole Tengiz extends further west into the BNG contract area (-:



Smarty.

[togglebrush] 03/11/2016 15:35

FWIW:- After a little digging some articles which have some interesting links
‘
Article with MAP around the A6 deep well dated October 28, 2016
‘

‘
An old article with names of Chinese and Korean interest. (LGI is operating oil field and gas field businesses in oman, Qatar, Vietnam, Kazakhstan, and Chile [ADA in Kazakhstan] ).
.

[control1] 03/11/2016 13:41

Smarty, was hoping you had kept your powder dry on SXX until more news. I still struggle to understand why a company that is 5 years from production hit the price heights that it did....

Still, unlike here, you at least have the knowledge that at 20p, you will be handsomely rewarded by the global super power that it will become in time.

The jury is still out here...

[xclusive2] 03/11/2016 12:24

Bull,

I was actually hoping for a shake but let's see how it goes. This was 18/19p ish pre BOCO deal and we didn't have shallow success and 3 deeps drilled. This could motor on minimal volume and peeps will be asking the usual question, why didn't i. That's the positive scenario and i believe that we're all looking at that gift horse in the smacker.

Each to their own.

Control,

Gutted that SXX cash raised @ 20p, really disappointed with that. A long term investment but will return in the end.


Smarty

[konil] 03/11/2016 11:44

no, i'm staying put...

[bullinachinashop3] 03/11/2016 11:40

Breakout..

[konil] 03/11/2016 10:13

if a6 is successful it will be a game changer. imo estimates about impact on share price are understated, that's not surprising given the dire history here.

also there will be the inevitable waves of profit taking which here may be more pronounced, again given the dire history. the swings could make even seasoned sailors throw up and many may leave purely for that reason!

but after all those waves of selling have subsided, which could take months if no other news after a6 forthcoming, the upward momentum should continue.

roxi has been limping along on c.350bopd, a successful deep at 1000 or 2000 bopd not only supercharges cash input, even at local prices, but in time will do wonders for reserve numbers.

then there's a5 and 801, i guess they're dead as roxi has given up even with holding statements, but if one or both are still alive, that could supercharge favourable sentiment.

so much for rose tinted futures...meantime we contend with poor comms and the four elephants in the room, a5, 801, cash, baverstock...

[xclusive2] 03/11/2016 09:10

Hornet,Thanks for input.I believe this drill has gone far better in the final stage as opposed to A5. You may be right re the coring and I for one would be pro anything that does not add complexity to the drill. If they were really confident if have expected them to be trying to nick a few more quid by granting soft options but plenty of time for that !!Valued at circa100m today, over the top regardless of what company states but A6 will dramatically change that as the blue sky painters will appear from everywhere. 150% return in short order v 30% downside, not a bad punt.Smarty

[bullinachinashop3] 03/11/2016 07:51

Thanks for the insight. Sounds like you know your stuff

Hornet.

[control1] 02/11/2016 22:39

Interesting how we can read about this stuff in the press elsewhere but good old Roxi offer us nothing...

Also, it is not surprising that there is little interest here at the moment. The story about the boy who cried wolf springs to mind.

The difference between A5 and A6 is that A5 was new, the first and finding a 105 metre oil column (and in reality, probably much more) got people excited and took the share price to 25p.

Years later, we have 2 wells which despite the presence of oil, Roxi have been incapable of testing and the jury remains out on whether this one goes the same way.

In any event, people have been burnt too many times here to risk it yet (and that includes me) as I would rather buy in on a successful flow test.

Truth is, no one believes Mr Carver any more, he is discredited and even his latest statement is a travesty in that we will be testing without delay. Apart that is, for the time that it takes to run the casing....

What's that skippy, its not "without delay" then.

Maybe semantics this time but I am always reminded of the famous quote which I paraphrase for this situation i.e.

Q: "how can you tell when Mr Carver is lying...?"

A: " his lips are moving...."

[togglebrush] 02/11/2016 16:50

FWIW a short search trying to make the name game connections
#
RNS 21 Jan 16 extract:-
Roxi has a 58.41% interest in the BNG Contract Area via its 59% holding of Eragon Petroleum Limited.
‘
A record search show:-
Eragon Petroleum Limited
Previously known as Baverstock Number 26 Plc
2 active directors & 2 active secretaries Mr Clive Nathan Carver, Mr Kuat Rafikuly Oraziman
'
whilst
Baverstock GmbH operates as an investment advisory firm out of Zug Switzerland
who, as Baverstock GmbH, own some 98,000,000 shares or 10.45% in ROXI
'
Interims 28 September
'
The Company continues to progress the planned merger with Baverstock GmbH, the entity controlling the 41% of BNG & Munaily not owned by Roxi, which was announced in June 2016. and we expect to announce the detailed terms in the coming weeks. Completion of the proposed merger requires certain regulatory consents in the UK and Kazakhstan, together with the approval of independent Roxi shareholders and the Baverstock Quota-holders.

[sloppyg] 02/11/2016 16:09

fwiw !!....

times New Farm, CEO of geonwoo is 11 days "merger Barber Stark and Roxy is signaled indicating that production in earnest crude oil," he said "the BNG mining operations from the merger of the two companies dwaeteumyeo able to exert a direct impact, mass point, "he said. will be the second half of next year, followed by" the recent direct confirming BNG mining reserves of 15 places to add a total of 45 million barrels, "said," etc. Hermes fields located now, that mine as much as mine drilling is in progress, he explained that better results planned to be announced (reserves) "from the Roxy as soon as possible.

[sloppyg] 02/11/2016 15:25

"[Daily paxnet and jongmin News] New Farm for one of its affiliates (ownership 17%) Barber Stark (Baverstock GmbH) and the United Kingdom Roxy (Roxi Petroleum PLC, Barber stark approximately 40% stake held)社merger under review. The merger ratio is not confirmed New Farm is expected to secure a minimum of 20% equity interest did. The merged entity is envisioned that the plunge in the second half of next year BNG oil blocks commercial production"

Dodgy google translate from Korean News a couple of weeks back. New Farm is Daehan New Pharm (Korean investors in Bav & Roxi).

They seem to think they are getting a minimum of 20% of the new merged entity although split not confirmed yet. By my reckoning they currently have c.15% of Rxp/Bav combined so a nice uplift if materialises.

Still think these merger terms could be the sting in the tail and explains the muted share price reaction

[xclusive2] 02/11/2016 13:09

K,

That's my assumption as otherwise how could they say that they believe it's part of the same structure as A5. I thought cores were taken through the drilling process so i'm hoping that they know what they have, just a matter of a commercial flow test. I suspect that they had to core in sections on A5 due to the drilling issues and A6 gone far better. I'm also not expecting to way 90 days for initial flow test result and release of info in stages is what i'm expecting eg initial flow rates @ x bopd @ x choke, followed by updates over 90 days.

MM's,

Knock it down or push it up so we can have a bit of fun please !

Smarty

[konil] 02/11/2016 12:27

they've not mentioned any problems at a6, so perhaps there were none, and the long time its taken to report on a6 is perhaps because they've already done the coring?

[xclusive2] 02/11/2016 12:15

I'm hoping for it to retrace as i will add more as i believe they know more about A6 than they're letting on.

Also taken a few more SXX's for my bottom drawer. A slow burner but will deliver real healthy returns over next few years.

Smarty

[xclusive2] 02/11/2016 11:50

K,

I can't disagree with market response, very unloved and yep, investors obviously don't trust the commentary. People also know that the flow test will take 90 days.

What i don't understand is the process this time as compared to A5 ? A5 was announced as a discovery with core samples initially showing 12m of oil horizon, it also clearly described the content of the core and this went on for months. This time is completely different ie they're able to state 100m+ of oil horizon but no detail from the cores. On A5 the core description -;

First Core
Roxi is pleased to announce the first core sample over the 12 meter range between 4,332 and 4,344 meters has been successfully completed with a 9.85m core recovered.

'Initial examination shows the recovered core of dolomitic limestone and is porous, fissured and filled with oil.'

Second Core
'As announced on 5 August 2014, oil and gas shows were detected at a depth of 4,332 meters over the full 12 meters core taken.

Roxi is pleased to announce a further core of 18 meters has been successfully taken between 4,347 and 4,365 meters, of which 5.62 meters was recovered. Initial examinations of this core confirmed it to be grey limestone, microcrystalline, dolomitic, fissured, vuggy and oil saturated over its full length.

This makes the aggregate thickness of the gross oil-bearing interval at least 33 meters.'

Am i missing something here. Much that Roxi had issue with the well from balancing the mud and losing loads down the well, why were they able to give information in regular updates and why did they core like this ? Roxi have done mud logs and wire logs to identify the 2 pay zones this time, have they cored and if so why no detail ? They couldn't make the statement of 105m of pay zone last time until cores taken so how can they do it now, they obviously know more than they're telling us.

They also exercised loads of options during the coring exercise, was that a ploy and did they release the info slowly to gain share price momentum ?

Sloppy,

Re structure, if the content of the cores were the same then i assume you could deduce that in same structure.

Jonny,

Why no info on coring. When would they core ? They have identified oil shows and will perforate to do flow test and identift net pay. Is the next stage coring ?

Smarty

[konil] 02/11/2016 11:10

sloppy, market disbelief not really surprising, how many companies find two 100m+ columns of oil and get absolutely zero production after years of trying?

so they've found a 3rd 100m+ column, so what, belief will come when the oil is flowing commercially.

same structure - not an oiler but i think they do simultaneous pressure checks?

if they cannot salvage a5 and if it is the same structure as a6, could they access the a5 oil via a6...horizontal drilling perhaps? we know nothing of the geology and are unlikely to ever find out, other than by the course of actions taken by the company. could be a looooooong wait - lol!

[sloppyg] 02/11/2016 10:02

Indeed Konil - must admit to be a little surprised at the extent of the apparent loss of credibility here. The market is effectively saying we don't believe you.....

One question for the Oilies - if A5 and A6 are part of the same structure... how and when in the process is that definitively confirmed; at present Mgt believe they are connected but what makes it categoric ?