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

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.

No news, but something must be moving behind the scenes to account for all this volume. Two possible scenarios:

1. They are close to syndicating the rest of the convertible stock.
2. There is talk that KazMunai Gas has $4 billion to invest in Gas and Oil plays in Kazahkstan and beyond. Either Max could be in play, or they might want to do a deal on the Astrakansky (spelling) licence. Either way it will be good news for us.

Happy to buy in on this news,

4 August 2009




Max Petroleum, an oil and gas exploration and production company focused on Kazakhstan, announces today that it has executed a two-year drilling contract (the 'Contract') with Sun Drilling LLP, who have operated in Kazakhstan since 2001. The Contract provides the Company with a Z-J30 rig capable of drilling to 3,500 meters. The drilling rig is presently located in Western Kazakhstan. Sun Drilling LLP is currently mobilising the rig to the Zhana Makat Field, where it will drill two development wells and then move on to begin drilling the Company's shallow and intermediate exploration prospects on Blocks A&E.
cyril

Taken from another board,genuine poster,also a similar report from another poster,different board confirming it? Seems we could get an RNS tomorrow
via one source or next week at latest? If so we could see some real action,
one way or the other,like to think the positive myself?

I have had an interesting talk with Peter Moss (Vice President Investor Relations and Business Development MXP). To the point...we have nothing to worry about. The RNS update is taking so long because there is so much in there! It was a long chat, but gathered the following from our discussion:

1) Development wells in Zhana Makat are part of the lisence agreement. Rig is in place.
2) Drilling two wells in October
3) In terms of the strategic plan of which we were advised of in March - they are on track
4) Fully funded
5) From seismics on Blocks A+E - out of 30 - 10 wells remain in their portfolio for drilling
6) High success rate
7) Proceeding with discussions for farm-outs - interested parties
8) MXP will be presenting at various investor summits over the coming months - they must have something to shout about!

cyril