Roxi, the Central Asian oil and gas company with a focus on Kazakhstan, has encountered oil and gas shows at the deep well A5 at the BNG contract area.
The company is currently awaiting additional heavy drilling fluids to reach the drill site, which are required to take core samples.
Further announcements will be made once core samples have been analysed to determine the oil bearing horizon and quantify the discovery.
Clive Carver, Roxi Chairman commented: "The board of Roxi remains excited about the discovery and looks forward to updating the market further in due course."
The Kashagan oilfield is projected to be the second largest in the world after Saudi Arabia’s Ghawwar field; production in the country could reach dizzying heights when the field is properly tapped.