Max Petroleum Drills First of 12 Prospects on Blocks A&E

Max Petroleum has commenced drilling the BOR-1 exploration well on the Borkyldakty prospect in Block E, the first of twelve post-salt exploration prospects scheduled to be drilled by the Company on Blocks A&E, located in the highly prolific Pre-Caspian Basin in Western Kazakhstan.

The ZMA-A12 development well recently drilled in the Zhana Makat Field has been completed in the lowest of three Jurassic sandstone reservoirs encountered in the wellbore. The well was completed in late December 2009 from perforations in the JII-B reservoir over the interval from 873.5 to 877.5 metres in measured depth, and has been on an extended production test since January 1, 2010. The well is currently being produced on pump at a controlled rate of approximately 60 barrels of oil per day. Testing of the upper zones in this well, which include the primary target, will be considered after the lower zone is fully evaluated.