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

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

We are out excellent quick profit.

well done .... a prudent move .... i'll prob just get burnt at the stake!

Can't help but you deserve to looking back at your posts, are you like this at home??? poor family. lol

i thoroughly agree .... pure greed and nothing else .... certainly not common sense!

i sure as hell don't deserve it, but am actually making a small clear profit .... well, showing it anyway!

showing 10% clear, which will just about pay for a decent dinner but not much more, and not at a top restaurant

it looks as though only about 7m traded through the market - norm = 4m - so best guess is that the balance of 20m shares is between institutions, for whatever reason ..... still very curious indeed

that was very dull ..... stock went into auction at about 16:20 so was unable to close ..... sod's law says back to 5p tomorrow morning!