Beibars
Roxi holds a 50 per cent interest and operational control of Beibars Contract Area in the Mangishlak Basin near Aktau.
The block is situated just inland from the Caspian coastline approximately 20km south of the port of Aktau, with road, pipeline, rail, and tanker export. Exploration potential is identified in Jurassic sandstones, Triassic carbonates and Fractured Palaeozoic Basement at depth of 2500 to 4000 metres. The 3D seismic data acquired in 2008 and has revealed two exploration structures which will continue to be evaluated.
Beibars Munai LLP (“Beibars”) is denied access to the Contract Area as a result of the military intervention in 2008. This force majeure event prevents the company from carrying out the work programme. Consequently all work programme expenditure has been deferred, pending resolution of the military polygon.
The Company plans to farm out an interest in this block in order to finance either one or two exploration wells to provide the basis for further information to further develop this asset.
