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Drilling Update

5th Oct 2011 14:30

RNS Number : 6226P
Max Petroleum PLC
05 October 2011
 



 

 

 

 

 

 

 

Max Petroleum Plc

(the "Company")

 

Successful Jurassic Development Well Drilled in the Zhana Makat Field

 

5 October 2011

 

Max Petroleum Plc, an oil and gas exploration and development company focused on Kazakhstan, is pleased to announce today that the ZMA-A23 development well in the Zhana Makat Field has reached a total depth of 890 metres, with electric logs indicating 10 metres of net oil pay in Jurassic sandstone reservoirs at depths ranging between 808 and 833 metres. Reservoir quality appears excellent with porosities ranging from 20% to 34%. The Company has run production casing in the well, which will be completed and placed on production immediately after obtaining the requisite governmental approvals. The PM Lucas IDECO rig will now move to drill the ZMA-E2 appraisal well in the Zhana Makat Field.

 

 

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)20 7726 8400

WH Ireland Ltd

 

Daniel Bate / Robin Gwyn

Tel: +44 (0)161 832 2174

 

Macquarie Capital

Paul Connolly / Steve Baldwin

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.

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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