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BMB Munai, Inc. (KAZ) Releases Updated Report on Company’s Oil and Gas Resource Potential

|Includes: BMB Munai, Inc (KAZ)

BMB Munai, Inc. issued an updated report on the oil and gas potential of the company’s properties in Central Asia, based on an analysis prepared by an independent third party firm.

BMB Munai, Inc. reported that Chapman Petroleum Engineering Ltd. conducted an analysis on the company’s properties in the Northwest Block territory using newly acquired 3D seismic studies.

Chapman Petroleum Engineering Ltd. found four potential formations on the Northwest Block territory that might contain oil and gas reserves. The firm estimated the size of the prospective oil reserves at 171 million barrels on an unrisked basis and 51.3 million barrels on a risked basis.

The Northwest Block territory is located in the Republic of Kazakhstan in Central Asia near the Caspian Sea. The block is approximately 200,000 net acres in size. BMB Munai, Inc. was originally awarded the contract on the Northwest Block territory in 2000, and the company recently signed an extension with the Republic of Kazakhstan on the block until 2013.

BMB Munai, Inc. is an oil and gas exploration and production company active in Central Asia. The company reported production of approximately one million barrels of oil in 2010, and proved reserves of 22.7 million barrels of oil equivalent.

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