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5 Apr 2012 07:00
Max Petroleum Plc
(the "Company")
NUR-1 Drilling Update
5 April 2012
Max Petroleum Plc, an oil and gas exploration and production company focused on Kazakhstan, announces an update on drilling at the NUR-1 pre-salt well at the Emba B prospect on Block E. The well has reached the top of the Kungarian salt at a depth of 5,718 metres. Upon drilling into the salt, a high pressure transition was encountered resulting in the drilling tools becoming stuck. Operations are currently underway to retrieve them, after which the Company will set intermediate casing and drill ahead as planned. The Company currently expects the well to reach total depth of 7,250 metres in early June 2012.
Enquiries:
Max Petroleum Plc
| Michael Young President and Chief Financial Officer | Tel: +44 (0)207 355 9590
|
Tom Randell Director of Investor Relations
| ||
Merlin PR
| David Simonson/ Anca Spiridon | Tel: +44 (0)207 726 8400 |
WH Ireland Ltd
| Daniel Bate / Robin Gwyn | Tel: +44 (0)161 832 2174
|
Macquarie Capital | Paul Connolly / Steve Baldwin | Tel: +44 (0)203 037 2000 |
Oriel Securities | Michael Shaw / Ashton Clanfield | Tel: +44 (0)207 710 7600 |
Richard Hook, Chief Operating Officer of Max Petroleum, is the qualified person that has reviewed and approved the technical information contained in this announcement. Mr. Hook is a member of the Houston Geological Society and holds both Masters and Bachelors of Science degrees in geology.
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