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

21.5k ... big deal! ..... and could of course just been someone closing a bear position

1 million shares in MXP is certainly not worth mentioning.

however a purchase of 21.5k is not

max up 20 percent

a bit of perspective .... MXP is up a HUGE(!!) 0.52p, though admittedly the spread is at lesat sensible at 0.15p

cynic really motoring now get your head out of the sand!

just to remind you that i only deal in CFDs so min cap is 10m ..... i wouldn't buy MXP anyway, purely because i don't muchg care for it, any more than i do a number of other mini-minnow oilies and miners ...... very happy to be holding TLW, and arguably, i should not have banked my very acceptable profit in HOIL.

i will however happily own up to having very modest holdings in HAWK, EO and CRA

cynic if you wish to limit what you can deal in that is up to you and is of little interest to others interested in making money, either in dealing in shares directly or using CFD's.

it is not me who makes the rules about trading in CFDs, and if you don't want to read the crap i write, then don't react or squelch

We are not responsible for the "crap" you espouse! Sensible informed opinion is most welcome.

as i said, you don't like my opinion, whatever its basis, then take the necessary

but is it my imagination, or is MXP still trading on blue sky? .... even HAWK and SER have at least limited quantities flowing

cynic always wanting the last word, why get involved in share blogs you don't consider worth investing in?

my choice, but am i correct in saying that MXP does not have a single proven well but merely licences which it will exploit in due course, cash permitting? .... even then, it is far from certain that they will come up with oil ..... VOG was a salutary lesson in such

cynic whether or not MXP has proven oil reserves is academic until the oil actually comes out of the ground it is considered no different to any other E&O's like HAWK or EO.

not quite true, but still ..... does MXP genuinely proven reserves? ..... EO does not yet either (i think), though HAWK clearly does, even if the amount being pumped is currently derisory

cynic tell us the value you put on so called "proven" reserves?

i don't or at least i have no idea, and surely their value must have some correlation to the quality of the crude and its cost of extraction ..... however, i do know for sure that licences have the same value as blue sky

cynic so "proven reserve" estimates are of no greater value than back of the envelope guesstimates? Be careful with your reply as some of us used to live in Uganda!

Great news for Pond Life and others who were brave enough to invest against
the views of ???
Not producing???

Max Petroleum is an oil and gas exploration and production company focussed on Kazakhstan. They currently hold three licences, Blocks A & E and the Astrakhanskiy Block, and are evaluating farm-out offers to fund a portion of an extensive exploration programme.
l

They are currently producing ~2,300 bopd from the Zhana Makat field on Block E, generating ~US$6M in revenue per month. Estimated P2 reserves are 9.1 mmbbls.

Based upon current production rates from the Zhana Makat field, combined with the higher oil price, Max stated they expected to fully fund current operating costs and capex out of operating cash flow beginning in Jul '08.

They have a US$100M mezzanine credit facility with Macquarie Bank, with a current borrowing base of $50M, of which $32.5M had been drawn down as of end Mar '08. Cash at end of Mar '08 was US$4M.

cyril

does that mean you boil up the missionaries and eat them?

blue sky = no identifiable value other than in the beholder's dreams

proven reserves = have a very definite value, but unlike many here, i do not pretend to have the expertise to calculate it .... those in the industryy who are paid for such calcs, assuredly can


cyril - thanks; so MPX clearly do have something identifiable, including a modest amount iof cash n the bank, albeit by way of a (expensive?) credit line. .... however, i do note that your comment is based on a very old announcement, for they talk of an oil price (+/-$140?) just(?) prior to july '08 .... so where does the company stand now? .... a bit precariously i dare say