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24 May 2013 09:15
Max Petroleum Plc
(the "Company")
Drilling Update
24 May 2013
Max Petroleum Plc, an oil and gas exploration and production company focused on Kazakhstan, is pleased to announce that it has commenced drilling the UTS-5 exploration well in the Uytas North prospect on Block A using Zhanros Drilling's ZJ-20 rig. The Uytas North prospect is a four-way anticline, targeting Triassic resource potential of 11 million barrels of oil with a geological chance of success of 24%. Total vertical depth of the well will be approximately 840 metres.
After completing the UTS-5 well it is planned that the ZJ-20 rig will proceed to drill the UTS-8 well in the Uytas Field, which, if successful, will extend the Western limits of the Uytas Field.
Enquiries:
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Richard Hook, Chief Operating Officer of Max Petroleum Plc, 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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