MXP.L Regulatory News (MXP)

4 Nov 2005 12:55

Max Petroleum PLC04 November 2005 MAX PETROLEUM PLC ("Max") SEISMIC PROGRAMME Max Petroleum Plc (AIM:MXP), an oil and gas exploration and development companywith an initial focus on Kazakhstan, today releases a preliminary summary of theexploration work carried out to date and initial details of the forwardprogramme on their A&E Blocks and East Alibek in the Pre-Caspian Basin ofKazakhstan. E Block A 2D seismic survey started on 21 September 2005 using the latest 3-componentFull Wave VectorSeis recording technology from Input/Output, a leading seismicinstrumentation manufacturer. The object of this initial programme is to increase understanding of theZharzhyk and Iskene structures and to increase knowledge of the deep pre-saltand basement trends over the rest of the E Block, to ascertain whether they arerelated to the giant fields of Kashagan and Tengiz. A wide aperture survey wasformulated by the Max Petroleum exploration team to map these structures andtrends. Initial results show that accurate imaging of the shallow post-saltformations, where most of the present known traps have been found, has also beenachieved. Recording the 3 components of the seismic signal is expected, after finalprocessing, to produce enhanced imaging of the salt overhangs and pre-saltformations where larger oil traps tend to lie. The total programme for 2005 is 734 line km. To 30 October 2005, 190 km havebeen recorded and the 4 completed profiles, after field Quality Controlprocessing, show high quality imaging of both the post-salt and the deeppre-salt structures. A Block On completion of the work on East Alibek, outlined below, the Vibroseis crewwill move to Block A, starting working on or around 10 December 2005. A total of240 line km of data is planned to be acquired in December 2005 and January 2006. The object of this survey is to examine the regional geology of the area and toconfirm the existence a pre-salt reef trend, identified from existing data,which links the areas Myrzaly, Zhilankabak, Iman Kara and Sarniaz. A particularfocus will be placed on Myrzaly in the north-west corner of the Block as itborders on the large producing field of Kenbai and potentially offers a similarpost-salt, salt-flank prospect. East Alibek The area is an extension to the east of the structures of the Zhanazhol,Alibekmola and Alibek South producing fields. A gravity / magnetic survey has been completed across the entire Block. Theobject of this survey was to identify salt coverage and other trends. The finalinterpretation is due to be completed by mid-November 2005. A 2D high-fold seismic survey started on 20 October 2005 using the Vibroseismethod. The object of the survey is to image complicated faulting on thestructure as it rises towards the easterly limiting fault line. To date 50 kmhave been recorded out of the 2005 programme of 348 line km. At this stage, noprofiles have yet been Quality Control processed but field records are of goodquality. Jim Jeffs, Chief Executive Officer, commented: "These encouraging initial high quality seismic imaging results, combined withthe seismic programme planned for the coming months, will allow us to formulatethe extensive exploration and development drilling programme that Max intends tocarry out in 2006." 4 November 2005 Enquiries:Max Petroleum PLC James A. Jeffs T: +44 (0)20 7514 1490 Chief Executive Officer Steve Kappelle Chief Operating Officer Pelham Public Relations Charles Vivian T: +44 (0)20 7743 6672 E : Charles.vivian@pelhampr.com Alisdair Haythornthwaite T : +44 (0) 20 7743 6676 E: Alisdair.haythornthwaite@pelhampr.com This information is provided by RNS The company news service from the London Stock Exchange