BMB Munai Pleased with Preliminary Testing of Dolinnoe-3 Well

BMB Munai reported the results of penetration and testing of a fourth zone at the Dolinnoe-3 well in Kazakhstan. Testing of the zone was carried out during the first two weeks of September 2005 as part of an extensive research and testing program conducted at the Dolinnoe-3 well. The initial drilling of the Dolinnoe-3 well was completed on April 26, 2005. Since completion of the drilling activities, the Company has been engaged in evaluation and testing of multiple zones identified in the well.

During the testing of the fourth zone in September, the Company obtained oil and gas in-flow after perforating 17.5 meters of the 24 meter thick productive zone. Preliminary testing of Dolinnoe-3 using chokes of various diameters resulted in the following production rates: 1,625 bpd (choke - 10 mm); and 1,550 bpd (choke - 8 mm).

Mr. Boris Cherdabayev, Chief Executive Officer, stated, 'Preliminary results of productive horizon testing of the fourth zone at the Dolinnoe-3 well strengthens our confidence in the future prospects of both the Dolinnoe field and the entire ADE block, as extended. We believe that these test results confirm the wisdom of our management and staff engineers to work toward increasing oil production through a carefully planned and executed program of drilling, research and testing. We expect to continue to move forward in our goals of developing our substantial proved undeveloped reserves and increasing our production and sale of oil.'

BMB Munai will continue to do testing to determine more fully the production capabilities of the Dolinnoe-3 well. At the end of the testing period the Company will install additional equipment before the well will be placed into production.