Max Petroleum Encounters Oil Pay at Zhana Makat Well

Max Petroleum announced that the ZMA-ET1 appraisal well in the Zhana Makat Field has reached a total depth of 1,472 meters, with electric logs indicating 22 meters of net oil pay in three Triassic sandstone reservoirs at depths ranging between 1,282 and 1,410 meters. Reservoir quality appears excellent with porosities ranging from 18 to 26%. These reservoirs were the primary objective of this well, which appears to have successfully extended Triassic production and reserves into the southern end of the Field.

The Company is running production casing in the well, after which the Sun ZJ-30 drilling rig will move on to drill the ZMA-ET2 appraisal well further to the south of the ZMA-ET1 well, attempting to further extend Triassic production and reserves in Zhana Makat. The Company will complete and test the ZMA-ET1 well using a workover rig over the next several weeks and will announce production test results as soon as practicable.