SOURCE: Zhaikmunai LP

November 15, 2010 02:11 ET

Zhaikmunai: successful test of new well #115

URALSK, KAZAKHSTAN and ISLE OF MAN, UK--(Marketwire - November 15, 2010) -


Zhaikmunai: successful test of new well #115

URALSK - 15 November, 2010 - Zhaikmunai LP (LSE: ZKM) ("Zhaikmunai"),
the oil and gas exploration, development and production business based
in northwestern Kazakhstan, today announces that its future production
well #115 was successfully tested at higher than expected flow rates.

Well #115, located in the northeastern part of the Chinarevskoye oil
and gas condensate field, test flowed 22,239 million cubic feet (MMcf)
of natural gas and 1,087 barrels of condensate per day from the Middle
Devonian Ardatovski clastic formation.

Well #115 tested the Ardatovski reservoir in the interval 4,888-4,913m
and using a 18-mm choke with a depression of 130atm, which is
approximately 29% of the formation pressure. Well #115 will be brought
into production when Zhaikmunai's gas treatment facility (currently
being commissioned) starts up operations.

Kai-Uwe Kessel, Chief Executive Officer, commented:"This is the first test
of the Ardatovski horizon in a separate fault
block in the northeastern part of Chinarevskoye Field. Previously the
Middle Devonian Biski and Vorobyovski horizons had been successfully
tested in the same well in 2008. During 2009-2010 the well was used as
a producer from the Lower Carboniferous Tournaisian gas condensate and
oil horizons. The successful test of the Ardatovski horizon underlines
the potential of the Chinarevskoye field and validates our development
strategy."

For further information please visit www.zhaikmunai.com.


Further enquiries
Zhaikmunai LP
Bert Jordens, Investor Relations Officer
jordens@zhaikmunai.com                +44 (0) 1624 68 21 79


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 northwestern
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.




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