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 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.

WeLL pond life a great result for you and good old patience, happy to say i increased my holding 5 fold on the last news at 7p.
More than 16m traded and a 36,6000 bought after hours at 13p, a very nice
57% for now.
cyril

Is there more to come? sold mine at 11.8p thought too good to leave.

i think you're right ..... everything is now looking horribly frothy with seemingly indiscriminate heavy buying of anything that moves ...... tomorrow may well be sharply south

Yep - all looks overbought short term. MXP coming back a bit today. But look at the volume!

coming back + volume indicates peeps bailing out with a profit before it all disappears

Mxp seem's to be making another rally on no news.

EGM in London on Tuesday. I will be going. Anyone else attending?
This could be the spark for a continued rally in the sp next week. Let's hope for some good news.

EGM could also be the catalyst for selling on the news

Somehow I doubt it this time cynic. I reckon that the MXP management - prodded somewhat sharply by McBank, are finally getting their ducks in a row. I am hoping for some serious progress here by the end of the year.

Anybody explain the recent rise? there dosen't seem to be any news and seems to be the only oil comp, rising. I like a twit baled out when it stalled for a day at 20p
Grrrrrrrrrrrrr.