Max Petroleum says that the Ministry of Oil and Gas of the Republic of Kazakhstan (MOG) has advised the Company that it will provide various regulatory approvals for the Blocks A&E Licence in Western Kazakhstan (the "Licence"), including:
• extending the exploration period of the Licence by two years until March 2015 for further appraisal of the Licence ("Appraisal Extension");
• granting the Asanketken Field trial production status (ASK TPP); and
• granting the Borkyldakty Field full field development status ("BOR FFD).
The regulatory approvals will become effective once the amendments to the Licence are executed specifying the mandatory work programme commitments associated with each approval. The Company expects to receive final approval for the Appraisal Extension and ASK TPP during April 2013 and for BOR FFD before 30 June 2013.
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Max Petroleum Plc
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