KazMunaiGas Exploration Production (Kazakhstan) has discovered oil at the Liman Block

/KASE, October 25, 10/ - KazMunaiGas Exploration Production (Astana), shares of which are listed in Kazakhstan Stock Exchange (KASE) official list, provided to KASE the following press release of October 22, 2010: quotation starts JSC KazMunaiGas Exploration Production ("KMG EP" or "the Company"), announces an oil discovery at the Liman Block. The accumulation is located on the south slope of the Novobogatinsk Salt Dome 70 km west of Atyrau and is in close proximity to the Novobogat Southeast oil field operated by Embamunaigaz. An oil flow was evident at the first exploration well of over 1200 m depth from Middle Trias. Daily production rate is 24 m3 with 5mm choke. Three more pay horizons are forecast in the drilled section. The discovered 34 API light oil indicates considerable post-salt potential of the region that is currently under large-scale 300 km2 3D seismic survey. The company's 2011 work programme aims at detailed study and volumetrics in order to put the discovery into operation in the near future. KMG EP's Chief Executive Officer, Kenzhebek Ibrashev, said: "Our success at the Liman Block resulted from several years of dedicated work, integrated studies and significant investment, which are now bearing fruit. In the new phase of our Company's development, exploration is becoming increasingly important. We work hard to expand our exploration portfolio, intensify our post-salt exploration programme and plan to start drilling pre-salt wells in the near future". Contacts: KMG EP, Public Relations (+7 7172 97 7600) Daulet Zhumadi e-mail: pr@kmgep.kz KMG EP Investor Relations (+7 7172 9 54 33) Asel Kalieva e-mail: ir@kmgep.kz Pelham Bell Pottinger (+44 207 861 3147) Elena Dobson e-mail: edobson@pelhambellpottinger.co.uk quotation ends [2010-10-25]