4th Aug 2009 07:00
MAX PETROLEUM PLC
("MAX PETROLEUM" OR THE "COMPANY")
[AIM: MXP]
Execution of Drilling Contract
4 August 2009
Max Petroleum, an oil and gas exploration and production company focused on Kazakhstan, announces today that it has executed a two-year drilling contract (the "Contract") with Sun Drilling LLP, who have operated in Kazakhstan since 2001. The Contract provides the Company with a Z-J30 rig capable of drilling to 3,500 meters. The drilling rig is presently located in Western Kazakhstan. Sun Drilling LLP is currently mobilising the rig to the Zhana Makat Field, where it will drill two development wells and then move on to begin drilling the Company's shallow and intermediate exploration prospects on Blocks A&E.
The Company will release a more comprehensive strategic and operational update in the next few weeks in conjunction with the release of its preliminary annual results for the period ended 31 March 2009.
Enquiries:
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Max Petroleum Plc |
Michael Young President and CFO |
Tel: +44 (0)20 7355 9590 |
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Peter Moss Investor Relations Manager |
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Merlin PR |
David Simonson / Anca Spiridon |
Tel: +44 (0)20 7653 6620 |
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WH Ireland Ltd |
Daniel Bate / David Youngman |
Tel: +44 (0)161 832 2174 |
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