ISLE OF MAN--(Marketwire - Jan 23, 2012) -

                              Zhaikmunai L.P.
                            (the "Partnership")


Zhaikmunai LP (LSE: ZKM), the oil and gas exploration and production
enterprise based in north-western Kazakhstan is pleased to announce the
hiring of Mr. Heinz Wendel as Chief Operating Officer (COO) of
Zhaikmunai LLP in Uralsk.

Appointment of a New Chief Operating Officer (COO)

In a planned senior management change, Mr. Heinz Wendel will replace
existing COO, Mr. Eckhard Verseck, who is retiring.

Mr. Wendel is an experienced oil and gas professional with significant
management and technical experience. He joined Zhaikmunai with a proven
track record of over 30 years. Mr. Wendel has assumed his new role
following a planned handover with his retiring predecessor.

After completing his studies in Azerbaijan (Oil & Gas Institute, Baku),
Mr. Wendel served in various managerial and technical capacities in
Germany, Poland, Russia and Kazakhstan. He was Technical Director of
Kazgermunai in Kyzylorda, Kazakhstan, from 1998 to 2002. He
subsequently held the positions of Head of Operations and Technology
with East German EEG (Erdol-Erdgas Gommern) and later with GDF SUEZ E&
P. Mr. Wendel is fluent in German, Russian and English.

Zhaikmunai's former COO, Mr. Eckhard Verseck, who has served in this
position since 2006, will continue to provide consultancy services to
Zhaikmunai, more specifically with regard to Phase II of the Gas
Treatment Facility (GTF).

Kai-Uwe Kessel, Chief Executive Officer (CEO), said:"Mr. Wendel has proven
himself a skilled oil industry professional with
a particularly good understanding of the local Kazakhstan working
environment. We are delighted that he has accepted the position of COO
and he will provide stability to the ongoing management of the Company.

Mr. Verseck, who has been instrumental in the successful building of
Zhaikmunai's oil and gas infrastructure over the past six years, will
continue to provide his valued technical expertise and field
understanding in the preparation work around the second GTF phase."

Further enquiries

Zhaikmunai LP
Bruno Meere, Investor Relations Officer                 +44 (0)1624 68 21 79

Pelham Bell Pottinger
Philip Dennis
Elena Dobson                                     +44 (0) 20 7861 3232

About Zhaikmunai

Zhaikmunai is an independent oil and gas enterprise currently engaging
in the exploration and development and production of oil and gas. It is
listed on the London Stock Exchange (Ticker symbol: ZKM). Its principal
producing asset is the Chinarevskoye Field located in north-western
Kazakhstan. Zhaikmunai L.L.P., a wholly-owned subsidiary of Zhaikmunai
L.P., holds a 100% interest in and is the operator of the Production
Sharing Agreement for the Chinarevskoye Field.

Forward-Looking Statements

Some of the statements in this document are forward-looking.
Forward-looking statements include statements regarding the intent,
belief and current expectations of the Partnership or its officers with
respect to various matters. When used in this document, the
and similar expressions, and the negatives thereof, are intended to
identify forward-looking statements. Such statements are not promises
or guarantees, and are subject to risks and uncertainties that could
cause actual outcomes to differ materially from those suggested by any
such statements.

                    This information is provided by RNS
          The company news service from the London Stock Exchange


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