Market reviews and recommendations of BCC Invest JSC (Kazakhstan) analysts for September 13, 2011

/IRBIS, September 13, 2011/ - BCC Invest JSC has provided IRBIS with a survey of main events, market reviews and investment ideas for September 13, 2011. Analysts of JSC "BCC Invest" now expect mixed and multidimensional opening of trades on ambiguous external background. Further, during the day, according to analysts, on the local market dynamics will be mixed and multidimensional, and the index of KASE, probably, will end the day with slight decrease. Analysts of JCS "BCC Invest" expect the following development on Kazakhstani market today: - The company Max Petroleum Plc announced that drilling of exploration well SAGW-1 off road Sagyz West of Block A&E reached a depth of 1,406 meters, electric logging indicated the presence of 21 meters of the oil reservoir and 6 meters, gas-bearing reservoir in the range of 114 m in the Triassic reservoir at a depth of 1,177 to 1291 meters. The value of porosity of 18% - 25%. Based on the results of geophysical surveying, electric logging and measuring the pressure in the well company estimates the geological reserves of oil are in the West Sagiz 66 million barrels with an expected recovery rate from 20% to 30%. Currently, the well established production casing. Trial operation of the well will begin upon receipt of necessary regulatory approvals in Kazakhstan. Confirming the well will be drilled in early 2012, next year the company also plans to drill two appraisal wells on the site. The company also announced the start of drilling wells supporting ASK-2 off road in Block E. Asanketken Planned depth - 3300 meters. Purpose - confirmation of oil reserves in the area in Jurassic and Triassic formations, which are estimated by 50 million barrels (unrisked mean). According to analysts of JSC "BCC Invest", the message is positive for the stock prices of Max Petroleum PLC, since the discovery of oil at the site Sagyz West is the third discovery in this year and significantly increases the resource base of the company. JSC "BCC Invest" reiterates the recommendation to "buy" on shares of Max Petroleum PLC with target price of 21 pence per share. Analysts of JSC "BCC Invest" expect the following developments on international markets today: - In the coming days Russia is expected to publish the budget balance - in France at 11:30 (AST) to be published data on the consumer price index, and at 12:45 (AST) - Balance of Payments. In the UK, at 14:30 (AST) to be published data on house price index from FCLG, trade balance, the consumer price index and retail prices. - In U.S. at 17:00 (AST) will be published index of optimism from small business NFIB, at 18:30 (AST) - the index of import prices, and at 20:00 (AST) - an index of economic optimism of the IBD / TIPP. At midnight, at 00:00 (AST) monthly performance report will be published. Analysts of BCC Invest JSC are giving the following advice for investors in securities of issuers in internal market: --------------------------------------------------------------- Closing Target Potential, Issuer Code price price % Recommen- dation ----------------- ------- --------- ------ ---------- --------- Kazkommertsbank KKGB 282 Review KKGBp 144 Review Halyk Bank HSBK 240 Review Bank CenterCredit CCBN 350 608 +73.71 Buy Tsesnabank TSBN 870 1,030 +18.39 Neutral KazMunaiGaz RDGZ 13,551.40 Buy Kazakhmys PLC GB_KZMS 2,460 3,500 +42.28 Buy ENRC PLC GB_ENRC 1,570 1,900 +21.02 Buy Kazakhtelekom KZTK 16,800 Review KZTKp 8,346 Review MREK MREK 1,251 1,130 -9.67 Hold --------------------------------------------------------------- The given material has exclusively information character and is not the offer or recommendation to make any transactions with the stocks. IRBIS Agency doesn't take responsibility for the opinions which are in given material. [2011-09-13]