The report was prepared in order to update the evaluation of the resources found within the Shyrak structure, which forms part of the OTG Contract, and to include in it the results obtained from the Shyrak-1 well after drilling was resumed in December 2010.
The Company’s Management Board would like to draw attention to the following:
1. In the report, the independent competent person provides a detailed analysis of the results of the research carried out during the drilling of the Shyrak-1 well which confirms the positive geological and physical conclusions regarding the potential of the Shyrak field (which the Company announced in its previous current reports).
2. The results obtained from the Shyrak-1 well have made it possible to significantly reassess the Geological Chance of Success of discovering a field (in accordance with international oil industry standards) from the current level of 8-13% (according to the McDaniel & Associates Report as at July 2009) to the level of 40-48%. This also entails a 4.5-fold increase in resources calculated using the risked mean estimate – from 29.8 million boe to 135.1 million boe (barrels of oil equivalent).
3. The report confirms the level of prospective resources within the Shyrak structure, estimating their size at 292.6 million boe.
4. The size of the total perspective resources of the OTG Contract, as reassessed by McDaniel & Associates, is 1,909.2 million boe, whereas the size of resources including the risked mean estimate is 555.9 million boe.
The Management Board of the Company emphasises the fact that the report provided by the auditor confirms the geological and physical conclusions published by the Company that confirmed the discovery of hydrocarbons within the Shyrak structure.

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