Re Acquisition by KazStroyService Global B.V.

PRESS - RELEASE

Zhaikmunai LP

NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES

London - May 4, 2010 - Zhaikmunai LP (LSE:ZKM), the oil and gas exploration, development and production company with assets in north-western Kazakhstan, announces that it has been informed by its principal shareholder, Claremont Holdings Limited, that KazStroyService Global B.V. has received approval from the competition authorities in the Republic of Kazakhstan for its in November last year announced acquisition from Claremont of 50 million Zhaikmunai L.P. global depositary receipts, representing a 27% interest in Zhaikmunai L.P. Completion of the acquisition by KazStroyService Global B.V. is expected to occur shortly.

Further enquiries

Bert Jordens [email protected]

Investor Relations Officer +44 1624 682179

www.zhaikmunai.com

Brunswick

Michael Harrison, Carole Cable +44 (0)20 7404 5959

About Zhaikmunai

Zhaikmunai is an independent oil and gas enterprise currently engaging in the exploration and development and production of oil and gas. It is listed on the the London Stock Exchange (Ticker symbol: ZKM). Its principal producing asset is the Chinarevskoye Field located in northwestern Kazakhstan. Zhaikmunai L.L.P., a wholly-owned subsidiary of Zhaikmunai L.P., holds a 100% interest in and is the operator of the Production Sharing Agreement for the Chinarevskoye Field. 

Forward-Looking Statements:

Some of the statements in this document are forward-looking. Forward-looking statements include statements regarding the intent, belief and current expectations of the Partnership or its officers with respect to various matters. When used in this document, the words "expects," "believes," "anticipates," "plans," "may," "will," "should" and similar expressions, and the negatives thereof, are intended to identify forward-looking statements. Such statements are not promises or guarantees, and are subject to risks and uncertainties that could cause actual outcomes to differ materially from those suggested by any such statements.