MXP.L Regulatory News (MXP)

Max Petroleum Plc

(the "Company") 

Drilling Update

19 October 2010

Max Petroleum Plc, an oil and gas exploration and development company focused on Kazakhstan, is pleased to announce today that the UTS-1 exploration well on the Uytas prospect in Block A has reached an intermediate depth of 300 metres with electric logs indicating 16 metres of net oil pay at depths from 60 to 76 metres in the Cretaceous Formation, with a potential 86 metre thick oil column present at depths from 60 to 146 metres. The Company has run casing over this portion of the well and will continue to drill ahead to a total depth of approximately 900 metres to evaluate its principal exploration target sands in the Jurassic and Triassic sections. The Company will test the shallow Cretaceous zone after evaluating the deeper horizons.

 Robert Holland, Executive Co-Chairman, commented:

 "The initial results of Uytas are very encouraging and could prove to be significant given the apparent size of the oil column. While we need to finish drilling the well to evaluate it fully, we are excited to have a potential commercial discovery before reaching our principal objectives."

Enquiries:

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.