Welcome to the new thread for Max Petroleum. Here's a link to the MXP web site and a presentation that everyone should read.

http://www.maxpetroleum.com/companypresentations.asp

One has to assess the situation as at suspension and now. IMHO, fundamentally nothing has changed except that the crude price has shot up which should be reflected in the SP. Therefor this is +ve.
However, Max has lost management(bad or good does not matter) which is -ve but with some very good assets, and loss of management, Max becomes a takeover target which will hold the SP in the short term and will go much higer once the TO rumours start in the market.
Farm out news to comeout, again will be very +ve. Here I think the current management will see how the SP settles down before they issue a RNS....
Operations update says they have plugged one of the Wells as commercial quantity of Oil has not been found -ve for the SP but should not impact that much.
The loss reported is not very relevant for an exploration company. Max has cash funds and the aim is to generate inhouse funds which should go higher than at present.... this is +ve. The SP droped in Aug because of the credit crunch crisis and Max got caught in the middle for no reason and there were traders who shorted this stock. IMHO, they will close their deals(shorts) for which they have to "Buy"(Long) and this will have a +ve impact on the SP.
This are some of my main thoughts. Please do your own research.

Good summary hjs. I had a dose of the horrors when I turned on my computer this morning, but I've been stuck in a meeting most of the time and now I've got back to my desk I am more than relieved to say the least.
Long term I still think that this is a winner, but it's been a rocky road so far and I can't see it getting any smoother just yet.
Taken a big hit in the pension fund even at these modest loss levels. Biggest hit however, was with my spreadbet positions where it gapped through my stops and left me with hefty losses. Couldn't have doen anything about it so not beating myself up.

Pond
I am hopeful that Max will move North from here. The facts speak for themselves. Wait for another RNS relating to Farmout and you will see this share go North very quickly.

HJS - I agree entirely. The share price is recovering very quickly and I am quite confident from here onwards. As you say, all we need is the right news to light the blue touchpaper and away we'll go.

Erm. ;-))

LOL - yes - how wrong can you be!
Nevertheless I remain undaunted. This time next year Rodney.....

A positive day so far for the share price and NEWS of Institutions adding UP
The time for the turning can not be far away.........

Beware of the BULLS they are getting restless



and can do some damage by the way



just ask this Scottish guy

MXP 64.75p +3.75p

The 5 days chart is positive on the way it has performed

Certainly seems to be buying below 60p. Don't see much volume. Like the higher low.

Interesting

Volume chart


Indicators

:>) Yes Big Al, you've guessed it! BUT i did get out before suspension (yes ok luck) but am back in now...........

;-0

Breaking and on the UPTREND

the bounce is on as sentiment is positive as is the momentum, so that is reflected on being UP by 4p

                Dominus obiscum

                     
Mother of God, has been praying for us shareholders

That is the way I see it at the moment (short term )

Nothing goes into a strait line, and after moving from 55p to 81p almost 50% UP is most likely "running out of powder" as also the Indicators are reaching the overbought situation.

Doji:
Definition: Long Legged Doji is a doji characterized by very long shadows. It shows the indecision
of the buyers and sellers and it is an important reversal signal.

Important Factors:
Long Legged Doji is more important at tops.
Since the Long Legged Doji is a single candlestick pattern, it is better to see confirmation in
the form of a move opposite to the prior trade on the next trading day.


Example of what usualy happens when a "doji" appears on the chart and after an uptrend like the one MXP had
for the last seven days, it did not follow the theory this morning but yes the price at the close

MXP being dumped today.

Max Petroleum PLC
17 December 2007

Max Petroleum Plc

Temporary Suspension of Production from Zhana Makat Field

17 December 2007

Max Petroleum Plc (the 'Company') announced today that production at its Zhana
Makat field has been temporarily suspended pending approval of the Company's
proposed gas utilisation plan by the Ministry of Energy and Mineral Resources
('MEMR'). The Company has filed the applicable permit application with the MEMR
and anticipates that approval of the gas utilisation plan, as well as the
associated gas flaring permit, will be obtained shortly. Upon receipt of such
approval, the Company will resume production in the Zhana Makat field without
any material impact on the Company's ongoing operations.

a pictorial nasty for you all .....

New article on MAx here