Exploration Licence Extension

RNS Number : 9433I
Zhaikmunai LP
26 November 2008

26 November 2008


Exploration Licence Extension

Zhaikmunai L.P. (LSE:ZKM) ('Zhaikmunai'), the oil and gas exploration, development and production company, today announces that it has received an extension to its exploration licence for the Chinarevskoye field in north western Kazakhstan until 26 May 2011. 

In June this year, Zhaikmunai announced six commercial discoveries in the Chinarevskoye field following the submission of the relevant declarations to the Kazakh Ministry of Energy and Mineral Resources ('MEMR') on 19 May 2008. As a result of these submissions, on 17 November 2008 the MEMR signed a supplementary agreement to Zhaikmunai's original Production Sharing Agreement thereby extending its licence for a further three-year period. 

Kai Uwe Kessel, Chief Executive of Zhaikmunai, said: 'The licence extension is an important step in the development of the field and will help us to exploit the huge potential of Chinarevskoye.'


Further enquiries

Zhaikmunai                info@zhaikmunai.com

Michael Harrison        +44 (0)20 7404 5959

About Zhaikmunai

Zhaikmunai L.P. is a limited partnership engaged in oil and gas exploration, development and production that is quoted 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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