BMB Munai, Inc. (BMB) focuses on oil and natural gas company exploration and production in the Republic of Kazakhstan. The Company holds an exploration contract that allows it to conduct exploration drilling and oil production in the Mangistau Province in the southwestern region of Kazakhstan. BMB’s contract area consists of the ADE Block, which includes Aksaz, Dolinnoe and Emir oil and gas fields. Its drilling activities consist of drilling a range of exploratory wells to delineate reservoir structures and developmental wells, which provides revenue to the Company. As of March 31, 2009, the Company had drilled 24 wells.