Successful appraisal well at Sagiz West

Max Petroleum Plc

(the "Company")

Successful appraisal well at Sagiz West

11 March 2014

Max Petroleum Plc, an oil and gas company focused on Kazakhstan, is pleased to announce successful drilling results of an appraisal well in the Sagiz West Field. 

The SAGW-13 appraisal well in the Sagiz West Field has reached a depth of 1,577 metres, with electric logs indicating six metres of net oil pay over a 16 metre gross interval in the Triassic Formation at depths between 1,252 and 1,268 metres. Reservoir quality is fair with porosities ranging from 15% to 20%. The Company also encountered visual shows over a lower reservoir at depths between 1,269 and 1,304 metres, with electric logs indicating another 26 metres of potentially productive reservoir albeit with higher levels of water saturation than encountered in the upper zone. The Company also plans to test this second interval for commerciality, but has not characterised this interval as net oil pay at this time.

SAGW-13 is located two km southwest of SAGW-4, making it the most southern well drilled in the Field to date. The Company is setting production casing in the well and will begin testing SAGW-13 as soon as practicable. The Zhanros ZJ-30 rig will next move to drill the SAGW-7 well, the final well remaining in the current 11 well appraisal programme at Sagiz West.