WH Ireland reaffirmed their buy rating on shares of Roxi Petroleum plc (LON:RXP) in a report issued on Wednesday morning, Analyst Ratings.Net reports. They currently have a GBX 28 ($0.40) price objective on the stock.

Roxi Petroleum plc (LON:RXP) opened at 7.6000 on Wednesday. The stock’s 50 day moving average price is GBX 7.12 and its 200 day moving average price is GBX 8.76. Roxi Petroleum plc has a 1-year low of GBX 5.58 and a 1-year high of GBX 18.59. The firm’s market cap is GBX 67.34 million.

Roxi Petroleum Plc is engaged in exploration and production of crude oil in Kazakhstan. The Company consists of four exploration and production contract areas spread over three petroleum basins: the pre-Caspian basin and the Mangyshlak basin in Western Kazakhstan and the Turgai basin in Central Kazakhstan. The Company’s BNG Contract Area is located in the west of Kazakhstan 40 kilometers southeast of Tengiz, covering an area of 1,561 square kilometers. The BNG Contract Area comprises deep wells, which include Deep Well A5 and Deep Well 801, and shallow wells, which include Well 805, Well 54, Well 806, Well 807 and Well 143. The Company holds 58.41% of BNG Ltd LLP, which is the operator of the wells. Its Munaily field is located in the Atyrau Oblast approximately 70 kilometers southeast of the town of Kulsary. The Company also holds 50% interest in Beibars Munai LLP, which operates the 167 square kilometers Beibars Contract Area on the Caspian shoreline south of the city of Aktau.

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