Roxi Petroleum (RXP) Munaily Asset

Content updated and post moved here.

Content below up to date to 28/2/10, but will not be maintained.

Overview

Roxi Petroleum's (RXP) Munaily Contract Area, sometimes known as Munayli, is a small block that has had a chequered history in Roxi's hands. It has been identified as for sale for some time, but the potential buyer has not come up with the cash and now Roxi are planning to rehabilitate the field and apply for a pilot production license. Roxi holds a 58.41% share of this license.

Prospects

According to the 2008 WH Ireland broker note, the field was dicovered in 1946 and has produced 10 million barrels from 59 wells up to 1998.

Since acquisition, Roxi has drilled the new H1 well on the block and that has produced at up to 100 barrels of oil per day (bopd) on test from 6m of pay in a Jurassic sandstone with ~20% porosity.

The primary targets for development/rehabilitation are the bypassed shallow Cretaceous, Jurassic, and Triassic sandstone reservoirs at depths between 500 and 1,650 metres.

Reserves

Only a small amount of reserves have so far been attributed to Munaily, and in the 2008 Annual report these were expressed as a dollar value, not the number of barrels.