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

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

Short of cash, which is the reason why they're at the these levels. However they
have spent many pounds on top seimics,have been funded by an top Aussie investment Bank Macquarie, further funding is thought to be close as is a JV.
Hope this helps, worth looking back to a previous post (269)for a better insight.
Yes post a bit old but wished to show oil was being produced,the present income is not that great," it all depends upon funding and a JV".
cyril

cynic what it means is when companies like TLW announce proven reserves in Uganda large quantities of salt need to be swallowed.

is that so ..... well, to use a pun, i am more than happy, as it seems is the market, to believe TLW more than you ..... guess you would say the same about the find in ghana too

Back to Mxp, if nothing more, the adage of by on rumour could apply here,seems
news may be forthcoming next week?
cyril

Pond life, congraulations on your 100%+ mark up and hope you hit 10p (on news) in the not to distant future. Kicking myself now for not having the bottle to take a punt(if only small).

cyril

assuming the info above is accurate, then exceedingly heavy volume ..... shall be absolutely delighted to eat my hat with a generous helping of crow pie if there is indeed logic behind the rise

Surely its about profit and 100% is not bad (under statement),"although it could be a bear trap"?
If i had bought at 2p i would sell half and have a free run(if only),what to me the latest trading shows is that a lot of investors have it on thier watch list and know what potential it has.
Thanks for your info on ORE.
cyril

you would indeed be prudent to do such a thing

looks as though MMs do not want to deal ... spread first thing was 0.1p but now 0.6p ..... sp has gone ballistic .... truly hope it will not just as suddenly collapse

this crow pie really is very tasty indeed - lol!
i have even bought 10k myself, which surely must be the kiss of death