Max Property Group PLC Drilling Update (8483F)

TIDMMAX

RNS Number : 8483F

Max Property Group PLC

30 May 2013

Max Petroleum Plc

(the "Company")

Drilling Update

30 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 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.

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.

 
 
   Enquiries: 
    Max Petroleum       Michael Young                     Tel: +44 (0)207 355 
     Plc                 President and Chief Financial     9590 
                         Officer 
                        Tom Randell 
                         Director of Investor Relations 
    College Hill        David Simonson/ Anca Spiridon     Tel: +44 (0)207 457 
                                                           2020 
    WH Ireland Ltd      Daniel Bate / Katy Mitchell       Tel: +44 (0)161 832 
                                                           2174 
    Macquarie Capital   Steve Baldwin/ Nicholas           Tel: +44 (0)203 037 
                         Harland                           2000 
    Oriel Securities    Michael Shaw / Ashton Clanfield   Tel: +44 (0)207 710 
                                                           7600 
 
   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.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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