Max Petroleum Spies Oil in Kazakh Block

Max Petroleum's reported that the UTS-1 exploration well on the Uytas prospect in Block A, Kazakhstan, has reached total depth of 827 meters. Electric logs and oil shows observed while drilling indicate potential pay zones in the well, including eight meters of estimated net oil pay in the Jurassic formation between 331 and 339 meters in depth, and six meters of estimated net oil pay in the Triassic section between 785 and 800 meters in depth. As previously announced, electric logs and pressure data also indicate an estimated 16 meters of net oil pay in the shallower Cretaceous section as part of a potentially significant 86 meter oil column ranging from 60 to 146 meters.

The Company expects to commence testing the well in approximately one month using a workover rig upon receipt of the required government approvals. After running production casing in the well, the ZJ-30 drilling rig will move on to drill the Sekir West prospect in Block A.

James A. Jeffs, Executive Co-Chairman, commented, "We look forward to testing all three zones in order to verify commerciality of what we believe could be a significant post-salt discovery."


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