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

Another gem fom hyleo along with is 1million in MXP is not worth mentioning?
cyril

but of course! ..... let the bean counters do the donkey work, and then pick up on the bits that appeal .... who wants or needs to be the pioneer? ..... that is how we have made such a success or our own biz, and by recognising opportunities when they fleetingly appear

you just keep counting your beans ... clearly that's what you are good at - well, i suppose so anyway

cynic we don't count beans we count profits. Profits come from ideas and of course others may eventually grasp an idea to try to make a profit. Give us some ideas.

oh of course ..... the MXP profit you never took! .... and the TMC one too? ..... surprised you actually banked one with ORE, especially as sp is till at 10% discount to the offer .... but a profit is of course profit, or at least so once it's BANKED!

cynic we made a greater profit on our position in MXP than you did , but you carry on living in your strange cynical mind.

you have made 2p (your bean counting not mine) but not banked it .... i made 2.5p and did ...... strange that!

cynic are you counting beans? Are you devoid of ideas?

fortunately today i have been banking profits - makes a nice change ...... earlier closed a long march nymex, but am considering re-opening now it looks to be holding $37.50 ...... also opened long Dow and watching

as for counting beans, i am more than happy to admit that i can't even read a balance sheet properly let alone analyse the goobledegook that gets spewed out on company accounts .... so no, not counting beans, though i most certainly know that 2.5>2.0, nor joining any committees for investment ideas strategy or golf clubs or anything else

cynic so you are not a social animal perhaps more of a loner?

not strictly true, though i certainly march to my own band, which brings its own consequences, both good and bad

cynic nothing wrong with having your own ideas rather than follow the herd.

Gentlemen - please could you continue your petty squabble elsewhere? Try advfn. You're behaving like a pair of petty ten year olds arguing over who's the biggest and best.

Pondie .... advfn would be too severe a punicshment! .... 20 minutes on there a couple of years back was quite long enough to establish what a load of rubbish it was

Rumours have it news tomorrow? Or's that today
cyril

Here it is,

('MAX PETROLEUM' OR THE 'COMPANY')

[AIM: MXP]

Deferral of Coupon Payment on Convertible Bonds






Max Petroleum, an oil and gas exploration and development company focused on Kazakhstan, has received undertakings from holders representing US$60.5 million of its US$75 million 6.75% convertible bonds due 2011 (the 'Bonds') to defer the next coupon payment under the terms of the Bonds, which is due on 8 March 2009, until 8 September 2009. The Company requested the interest payment deferral in conjunction with the Company's ongoing process of restructuring its senior debt facility with Macquarie Bank Limited. The trustee for the holders of the Bonds has been informed and it is intended that a formal meeting of such holders will be convened as soon as practicable.

cyril

That was just part one cyril. The real news on funding came in the second RNS. Macquarie has given MXP something of a lifeline to buy time to arrange the farm out and get the real cash into the business. Failing that, it looks like massive dilution with shares issued very cheaply to Macquarie. Knowledgeable posters over the road on advfn don't think it will come to that and reckon that a farm out is closer than many (me included) think.

Some real action taking place, with buys at 6p, peeps piling in.
cyril

OVER 8p now to purchase, up 50%+,all on "no news"
Whats in store tomorrow?
cyril

EGM set for the 12th May,the annoucement looks to give a positive spin?
cyril

Market reaction was muted at best - not hard to see why when you tot up how many shares could be issued if all the birds come home to roost. Ordinary shareholders get diluted at a rate of around 3:1. Not nice. Should make for an entertaining EGM.