Proposed Sale of the Galaz Contract Area

Roxi, the Central Asian oil and gas company with a focus on Kazakhstan, has announced the news of progress concerning the possible sale the Galaz Contract Area in which it holds an interest of 34.22%.

Further to the announcement of 8 January 2015, Roxi is pleased to report that it continues to work with a consortium led by Xinjiang Zhundong Petroleum Technology Co., a company listed on the Shenzhen Stock Exchange in China, in connection with the potential acquisition of 100% of the Galaz Contract Area.

Accordingly the period of exclusivity granted to Xinjiang Zhundong, which expired on 31 January 2015, has been extended to 10 February 2015.

Further announcements will be made in due course.

Adapted from a press release by David Bizley

Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/02022015/proposed-sale-of-the-galaz-contract-area/