Roxi Petroleum said today it had found oil in a test well at South Yelemes in Kazakhstan.
The London-listed firm, which focuses on the Central Asian country, secured £26million in equity last January 2013 to begin drilling.
Clive Carver, chairman of Roxi said: “We are delighted that the first interval tested has flowed naturally and at commercial levels. We look forward to similar success at the other levels.”
Once it is clear which interval is the most promising, Roxi plans to conduct a full 90-day test.