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30 May 2013 07:30
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Max Petroleum Plc
(the "Company")
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Drilling Update
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30 May 2013
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Max Petroleum Plc, an oil and gas exploration and production company focused on Kazakhstan, is pleased to announce that it has commenced drilling the SAGW-4 appraisal well in the Sagiz West Field on Block E using Zhanros Drilling's ZJ-30 rig. The well will be drilled to a vertical depth of approximately 1,500 metres and is located approximately four kilometres south of the SAGW-3 well, the nearest producing well in the field.
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The results of the SAGW-4 well, combined with newly acquired 3D seismic data, will help further evaluate the current estimate of approximately 79.8 million barrels of in-place contingent resources in the field, as well as assist in the design of an extended appraisal drilling programme over the Sagiz West structure expected to commence in the next several months.
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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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