Max Temporarily Suspends Zhana Makat Drilling

Max Petroleum Plc has temporarily suspended its drilling program in the Zhana Makat field in Kazakhstan after encountering unpredicted high pressure on its ZMA-A6 exploration well.

The elevated pressure was found at a shallow depth and, as a result, the well began to flow a combination of salt water, inert gas, and limited amounts of combustible gas. Established safety procedures, including the evacuation of personnel from the rig, were implemented effectively, resulting in no injuries.

The flow of water and drilling fluids to the surface was contained in a limited area around the well location. The environmental impact, which is currently being evaluated, also appears to be limited as no liquid hydrocarbons were involved. The well has already stabilized and operations to plug and abandon the well have now commenced. The Skytop Brewster 750 drilling rig was damaged during the incident and the short-term impact on the Company's drilling program is being assessed.

The relevant local authorities were promptly notified and the Company, together with the drilling contractor and the local authorities, have established a commission to review the incident. The Company will provide a further update when the commission has finalized its review.

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