Roxi Petroleum receives first payment following sell of Galaz asset
Oil and gas explorer Roxi Petroleum has received the first payment from the sale of its stake in the Galaz asset in Kazakhstan.
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In a statement released on Friday, the London-listed company said it had received the first $10.4m of the $23m it is owned following the sale of its 34.23% stake in the project.
In January, Chinese firm Xinjiang Zhundong Petroleum Technology, reached an agreement to acquire the asset for $100m.
Roxi added proceeds from the sale will be utilised for deep wells at the flagship BNG project.
Roxi shares were down 0.49% to 17.17p at 08:45 on Friday.