14th Jan 2010 09:45
Max Petroleum Plc
(the "Company")
Drilling Update
14 January 2010
Max Petroleum Plc, an oil and gas exploration and development company focused on Kazakhstan, is pleased to announce today that it has commenced drilling the BOR-1 exploration well on the Borkyldakty prospect in Block E, the first of twelve post-salt exploration prospects scheduled to be drilled by the Company on Blocks A&E.
The ZMA-A12 development well recently drilled in the Zhana Makat Field has been completed in the lowest of three Jurassic sandstone reservoirs encountered in the wellbore. The well was completed in late December 2009 from perforations in the JII-B reservoir over the interval from 873.5 to 877.5 metres in measured depth, and has been on an extended production test since 1 January 2010. The well is currently being produced on pump at a controlled rate of approximately 60 barrels of oil per day. Testing of the upper zones in this well, which include the primary target, will be considered after the lower zone is fully evaluated.
Enquiries:
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Max Petroleum Plc |
Michael Young President and Chief Financial Officer |
Tel: +44 (0)20 7355 9590 |
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Peter Moss Vice President Corporate Development and Investor Relations |
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Merlin PR |
Tom Randell / Anca Spiridon |
Tel: +44 (0)207 726 8400 |
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WH Ireland Ltd |
Daniel Bate |
Tel: +44 (0)161 832 2174 |
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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