Max Petroleum provide an update on production test results and development plans for its Uytas Field.

Highlights include:

■ Interpretation of 3D seismic data acquired in late 2011 has revealed a structure larger than previously identified; ■ Company estimates overall oil in place of 184 million barrels ("mmbo"), including: ■ 58 mmbo in conventional Cretaceous Aptian ("Aptian") and Jurassic reservoirs; ■ 126 mmbo in shallower, non-conventional Cretaceous Albian ("Albian") reservoirs; ■ Well tests have confirmed commercial productivity from the Aptian and Jurassic sandstone reservoirs with Phase One of an appraisal and development programme expected to include approximately 30 low-cost, shallow vertical wells; ■ Based on testing and core analysis, the Company is planning an enhanced oil recovery pilot project using steam injection to determine the commerciality of the Albian reservoirs

Tags: Max Petroleum Plc