BMB Munai Says New Report Shows Increased Reserves at ADE Block

BMB Munai says that following successful completion and initial testing of the new Dolinnoe-3 well, it commissioned Chapman Petroleum Engineers, Ltd., its independent petroleum engineering firm, to update its evaluation of the Company's oil and gas reserves on its ADE Block oil fields. Chapman Petroleum has completed its updated evaluation of the ADE Block reserves. According to the updated reserve evaluation, the Company's total gross proved reserves for the ADE Block has increased 1.1 million barrels of oil equivalent (BOE) to 42 million BOE. (In the reserve evaluation, gas is converted to BOE at a ratio of 6 mscf/Bbl.) Probable and possible reserves have also increased.

The Chapman Petroleum reserve evaluation was carried out in accordance with standards set out in the Canadian Oil and Gas Evaluation Handbook (COGEH), which is the "Practice Standard" for evaluation of oil and gas reserves for public disclosure in Canada.