SOURCE: Zhaikmunai LP

August 20, 2012 02:07 ET

Zhaikmunai to Acquire Neighboring Oil & Gas Fields

ISLE OF MAN--(Marketwire - Aug 20, 2012) -


                         Zhaikmunai L.P.
                       (the "Partnership")

      ZHAIKMUNAI TO ACQUIRE NEIGHBOURING OIL & GAS FIELDS

Zhaikmunai LP (LSE: ZKM), the oil and gas exploration and production
enterprise with assets in north-western Kazakhstan announces that, on
17 August 2012, Zhaikmunai LLP signed Asset Purchase Agreements to
acquire 100% of the subsoil use rights related to three new oil & gas
fields in Kazakhstan. Completion of the acquisitions, which is expected
to occur later this year, is subject to the approval of the relevant
authorities in Kazakhstan, including the Ministry of Oil & Gas and the
Anti-Monopoly Agency.

Zhaikmunai has agreed to pay the current owners a total of US$ 16
million for the three fields. The fields, Rostoshinskoye, Darjinskoye
and Yujno-Gremyachenskoe, are located in the Pre-Caspian basin to the
northwest of Uralsk, approximately 90 kilometres from the Chinarovskoye
field. The size of the three license areas combined is 139 square
kilometres. The company is currently analyzing the optimal appraisal
and development programme for the fields and will hold a Capital
Markets Day in due course to present the results.

Kai-Uwe Kessel, Chief Executive Officer of Zhaikmunai commented: "This
is a great moment for Zhaikmunai as we move from a single field
asset to a multi-field oil & gas company. Whilst Chinarovskoye remains
very much our core focus I am pleased that we have been able to acquire
these complementary assets and maintain our prudent approach to cash
flow management and a robust capital structure. This acquisition
continues the approach we have taken with the Chinarovskoye field of
developing previously explored fields. In addition its proximity is
likely to result in similar geology to our existing field, which we
have enjoyed great success in developing. I am confident that we have
found a number of exciting fields to develop over the coming years."

Further information

For further information please visit  www.zhaikmunai.com 

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) 207 861 32 32

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.

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

END

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