Zhaikmunai announces results of well 41 testing and license extension
/KASE, October 11, 2019/ – Zhaikmunai (Oral), whose bonds are officially listed 
on Kazakhstan Stock Exchange (KASE), has provided KASE with the following 
press release dated October 11, 2019:

quote

Zhaikmunai LLP, a subsidiary of Nostrum Oil & Gas PLC (LSE: NOG) ("Nostrum", or 
"the Company", together with subsidiaries – "the Group"), an independent oil and 
gas company engaging in the production, development and exploration of oil and 
gas in the pre-Caspian Basin, today updates the market on the testing of Well 41 
and recent licence extensions.

Drilling

Following extensive testing on Well 41 in the Frasnian reservoir Nostrum has so 
far been unable to sustain a commercial flow of hydrocarbons from the well. The 
Company will now consider whether there are alternative approaches it can take 
to perforate other reservoirs. The Company does not forecast any production 
from this well in 2019.

Licence extensions

The Company has obtained an extension of the Rostoshinskoye field subsoil use 
contract for appraisal activity for a three-year period until 16 August 2022. In
addition, the Company has obtained an extension of the mining permit for the 
Chinarevskoye field to include the northern area of the field, which permit is
valid  for the duration of the licence.

unquote

The full press release is available on KASE website at 
http://kase.kz/files/emitters/ZHMN/zhmn_reliz_111019_1.pdf

[2019-10-11]