16th May 2011 07:00
Max Petroleum Plc
(the "Company")
Successful Triassic Appraisal Well Drilled in the Zhana Makat Field
16 May 2011
Max Petroleum Plc, an oil and gas exploration and development company focused on Kazakhstan, is pleased to announce today that the ZMA-ET2 appraisal well in the Zhana Makat Field has reached a total depth of 1,492 metres, with electric logs indicating 18 metres of net oil pay in three Triassic sandstone reservoirs at depths ranging between 1,283 and 1,358 metres. Reservoir quality appears excellent with porosities ranging from 18 to 26%. The Company is running production casing in the well. The Company will complete and test the ZMA-ET2 well using a workover rig after obtaining the requisite governmental approvals, and will announce test results as soon as practicable.
Enquiries:
Max Petroleum Plc
| Michael Young President and Chief Financial Officer | Tel: +44 (0)20 7355 9590
|
Tom Randell Director of Investor Relations
| ||
Merlin PR
| David Simonson / Anca Spiridon | Tel: +44 (0)207 726 8400 |
WH Ireland Ltd
| Daniel Bate / Katy Mitchell | Tel: +44 (0)161 832 2174
|
Macquarie Capital Advisers | Paul Connolly / Ben Oakley | Tel: +44 (0)203 037 2000 |
Richard Hook, Chief Operating Officer of Max Petroleum, is the qualified person that has reviewed and approved the technical information contained in this announcement. Mr. Hook is a member of the Houston Geological Society and holds both Masters and Bachelors of Science degrees in geology.
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