Roxi Petroleum gets $6.9m loan repayment

Roxi Petroleum said on Friday that it had received the $6.9m repayment of a loan that was part of the process of selling its equity and debt interest in the Galaz Contract Area to Xinjiang Zhundong Petroleum Technology.

A payment of $27 million to Roxi's subsidiary Galaz Energy BV remains outstanding, of which $16 million will be attributable to Roxi.

These amounts are expected to be received within the next week, the company said.

Once these have been received, formal completion of the sale will take place.

At 1140 BST, shares were up 2.7% at 17.45p.