MXP.L Regulatory News (MXP)

14 Mar 2007 07:01

Max Petroleum PLC14 March 2007 14th March 2007 MAX PETROLEUM PLC Temporary Suspension of Zhana Makat Drilling Operations Max Petroleum Plc (the "Company") today announced that it has temporarilysuspended its drilling programme in the Zhana Makat field after encounteringunpredicted high pressure on its ZMA-A6 exploration well. The elevated pressurewas found at a shallow depth and, as a result, the well began to flow acombination of salt water, inert gas, and limited amounts of combustible gas.Established safety procedures, including the evacuation of personnel from therig, were implemented effectively, resulting in no injuries. The flow of water and drilling fluids to the surface was contained in a limitedarea around the well location. The environmental impact, which is currentlybeing evaluated, also appears to be limited as no liquid hydrocarbons wereinvolved. The well has already stabilised and operations to plug and abandon thewell have now commenced. The Skytop Brewster 750 drilling rig was damaged duringthe incident and the short-term impact on the Company's drilling programme isbeing assessed. The relevant local authorities were promptly notified and the Company, togetherwith the drilling contractor and the local authorities, have established acommission to review the incident. The Company will provide a further updatewhen the commission has finalised its review. 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 Maria Suleymanova 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