MXP.L Regulatory News (MXP)

16 Mar 2007 13:06

Max Petroleum PLC16 March 2007 16th March 2007 MAX PETROLEUM PLC Approval Received to Resume Drilling Operations Max Petroleum Plc (the "Company") today received the formal results of theCommission investigating the recent well control incident involving theCompany's ZMA-A6 exploration well in the Zhana Makat field. The Commission,consisting of representatives from the local regulatory authorities, the Companyand the drilling contractor, determined that the unpredicted high pressure andresulting flow of water and drilling fluids to the surface was caused bycircumstances outside of the control of the parties involved. The Company has been authorized to resume drilling operations and plans to do soas soon as possible using a second drilling rig that is currently in the field.The Company is also continuing to assess the damage to the Skytop Brewsterdrilling rig and is evaluating alternatives to mitigate the short-term impact tothe Company's drilling programme. Enquiries: Max Petroleum PLC Michael B. Young T: +44 (0)20 7355 9590 Chief Financial Officer Peter Moss T: +44 (0)7834 572837 Investor Relations Manager Merlin PR Tom Randell T: +44 (0) 20 7653 6620 David Simonson WH Ireland Ltd Paul Dudley T: +44 (0) 20 7220 1666 E: paul.dudley@wh-ireland.co.uk James Joyce T: +44 (0) 20 7220 1666 E: james.joyce@wh-ireland.co.uk This information is provided by RNS The company news service from the London Stock Exchange