Six Commercial Discoveries in Chinarevskoye License, Western Kazakhstan
URALSK , June 11, 2008: Zhaikmunai L.P. (LSE: ZKM), an independent oil and gas enterprise operating in Northwestern Kazakhstan, is pleased to announce that it has made six commercial discoveries in the Chinarevskoye license, Western Kazakhstan. To this end, Zhaikmunai issued six declarations on May 15 and May 16 which were subsequently submitted to the Kazakh Ministry of Energy and Mineral Resources on May 19, 2008.
Commercial prospects were declared for the following discoveries:
– Mullinski oil and gas condensate
– Ardatovsky gas condensate
– Tournaisian-South oil and gas condensate
– Famennian gas condensate
– Biski&Afoninski West gas condensate
– Tournaisian-West oil
The commercial nature of these discoveries was proved by test results from the successful appraisal wells 31, 32 and 33, as announced on the 3 June 2008.
The license conditions stipulate that a work programme for the appraisal of each discovery has to be submitted to the Kazakh authorities within 30 days of the date of declaration. The work programmes for each of the discoveries have been prepared and will be submitted to the Ministry of Energy and Mineral Resources (MEMR) before June 14, 2008.
Zhaikmunai will continue to appraise the new discoveries after the approval of the work programmes by the Kazakh authorities.
Further enquiries
Zhaikmunai info@zhaikmunai.com
www.zhaikmunai.com
Brunswick
Michael Harrison +44 20 7404 5959
Carole Cable
Forward looking statements
In the interests of providing Company shareholders and potential investors with information regarding the Company, including the Company’s assessment of its and its subsidiaries’ future plans and operations, certain statements included in this press release may constitute forward-looking information or forward looking statements (collectively, “forward-looking statements”). All statements contained herein that are not clearly historical in nature are forward-looking, and the words “anticipate”, “believe”, “expect”, “estimate” and similar expressions are generally intended to identify forward-looking statements. Many factors could cause the Company’s actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, the Company. These forward-looking statements made as of the date hereof disclaim any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise.
