Zhaikmunai LP announces Reserves Report 2011

ISLE OF MAN--(Marketwire - Apr 4, 2012) -

Zhaikmunai L.P.

(the "Partnership")



PROVED RESERVES INCREASE BY 15.1% TO 169.1 mmboe



Zhaikmunai LP (LSE: ZKM), the oil and gas exploration and production
enterprise today releases the independent reserves audit of its
Chinarevskoye field in north-western Kazakhstan as at 31 December 2011.
The report was prepared by petroleum consultants Ryder Scott Company,
L.P. ("Ryder Scott").



HIGHLIGHTS FROM THE 2011 RESERVES REPORT



* Proved reserves (1P) have increased by 25.6 mmboe (15,1%) to
169.1 mmboe (December 31, 2010: 143.5 mmboe);

* Proved plus probable reserves (2P) remained above 500 mmboe. The
2P reserves have slightly decreased to 521.6 mmboe (December 2010:
538.6 mmboe) as a result of the 2011 production and some small
adjustments on all reservoirs.



RYDER SCOTT FINDINGS



The Ryder Scott Reserves Report estimates that Zhaikmunai has the
following gross reserves:



CATEGORY                        31 December 2011 31 December 2010

Proved Reserves (1P)                 169.1 mmboe      143.5 mmboe

Probable Reserves                    352.4 mmboe      395.1 mmboe

Proved + Probable Reserves (2P)      521.6 mmboe      538.6 mmboe






Kai-Uwe Kessel, CEO of Zhaikmunai, commented:"The 2011 Ryder Scott Reserves
Report confirms Zhaikmunai's existing
strong reserve base and exceptional potential. As expected, the
start-up of our gas treatment facility (GTF)called for more attention
on production drilling and resulted in an increase in proved reserves.
Now that the GTF operations are stable, we can shift our attention to
intensifying appraisal and exploration drilling, which will likely give
rise to increases in total reserves in the months and years ahead."



RYDER SCOTT REPORT



The 2011 Ryder Scott Reserves Report for Zhaikmunai can be found on
Zhaikmunai's website ( www.zhaikmunai.com ) under Investors / Reports /
2011.



Notes:

* Proved and probable oil and gas reserves are estimated quantities
of commercially producible hydrocarbons which the exiting geological,
geophysical and engineering data show to be recoverable in future years
from known reservoirs.

* Proved reserves reported by Ryder Scott, independent petroleum
consultants, conform to the definition approved by the Society of
Petroleum Engineers ("SPE") and the World Petroleum Congress ("WPC").
The probable reserves reported by Ryder Scott conform to definitions of
probable reserves approved by the SPE/WPC using the deterministic
methodology.





Further enquiries



Zhaikmunai LP

Bruno Meere, Investor Relations Officer

 investor_relations@zhaikmunai.com            +44 (0) 1624 68 21 79



Pelham Bell Pottinger

Philip Dennis

Elena Dobson                                +44 (0) 20 7861 3232



About Zhaikmunai



Zhaikmunai is an independent oil and gas enterprise currently engaging
in the exploration and development and production of oil and gas. It is
listed on the London Stock Exchange (Ticker symbol: ZKM). Its principal
producing asset is the Chinarevskoye Field located in north-western
Kazakhstan. Zhaikmunai L.L.P., a wholly-owned subsidiary of Zhaikmunai
L.P., holds a 100% interest in and is the operator of the Production
Sharing Agreement for the Chinarevskoye Field.



Forward-Looking Statements



Some of the statements in this document are forward-looking.
Forward-looking statements include statements regarding the intent,
belief and current expectations of the Partnership or its officers with
respect to various matters. When used in this document, the
words"expects,""believes,""anticipates,""plans,""may,""will,""should"
and similar expressions, and the negatives thereof, are intended to
identify forward-looking statements. Such statements are not promises
or guarantees, and are subject to risks and uncertainties that could
cause actual outcomes to differ materially from those suggested by any
such statements.

                    This information is provided by RNS
          The company news service from the London Stock Exchange

END