Maxim Resources Inc.
OTC Bulletin Board : MXMSF

Maxim Resources Inc.

November 21, 2006 16:04 ET

Maxim Resources Inc.: Trinidad Discovery Well Flow Rates Total 722 BOPD

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 21, 2006) - Maxim Resources Inc. ("Maxim") (TSX VENTURE:MXM)(OTCBB:MXMSF)(FWB:M5H) is pleased to announce that it has been notified by the project operator, Jasmin Oil and Gas Ltd., of the test results from the IER-98 well in the South Erin Field onshore in Trinidad. The well was successfully drilled to a depth of 6,000 feet. Three oil bearing sand pay zones have been encountered.

The flow rates are as follows:

Zone 1 The Lower Forest A Sand

At 3100 ft - 80 ft of net pay 12/64 choke - 620 PSI (Flowing Tubing Head Pressure - FTHP) - 320 BOPD

Zone 2 The Lower Forest B Sand

At 3200 ft - 100 ft of net pay 12/64 choke - 500 PSI (FTHP) - 282 BOPD

Zone 3 The Middle Cruse Sand

At 5000 ft - 30 ft of net pay 1/4 choke - 420 PSI (FTHP) - 120 BOPD

Total Flow Rate 722 BOPD

The well is expected to be put in production in the near future.

Maxim will earn a 69% interest before payout and a 41% interest after payout in the project.

Ten development-drilling locations have been identified as well as several exploratory targets that will test new structures.

On behalf of the Board

Arthur Brown, President and Director

Information provided herein contains forward-looking statements. The reader is cautioned that assumptions used in the preparation of such information, which are considered reasonable by Maxim at the time of preparation, may prove to be incorrect. Actual results achieved will vary from the information provided and the variations may be material. There is no representation by Maxim that actual results achieved will be the same in whole or in part as those indicated in the forward-looking statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information