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24 Jun 2013 07:00
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Max Petroleum Plc
(the "Company")
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Drilling Update
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24 June 2013
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Max Petroleum Plc, an oil and gas exploration and production company focused on Kazakhstan, today announces that it has completed drilling the UTS-7 appraisal well in the Uytas Field on Block A. The well reached a total depth of 550 metres encountering insufficient hydrocarbons to be commercial and therefore will now be plugged and abandoned.Β This was the first well in a 13 well appraisal programme at the Uytas Field, and was drilled to define the limit of the Jurassic accumulation on the eastern edge of the field. The result does not affect the estimated size of the Cretaceous accumulations at the Uytas Field, where the majority of contingent resources are held.
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The Zhanros ZJ-20 rig will next move to drill the UTS-11 well, the second of the 13 appraisal wells to be drilled at the Uytas Field this summer. This well is intended to delineate both Cretaceous and Jurassic reservoirs in the central portion of the field.
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Β 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. Β | ||||||||||||||||||||
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