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

Copied from iii CNOOC appear to be interested in Astrakhanskiy

08-Oct-09
14:04
CNOOC holds talks with Dragon Oil and Max
Petroleum over Caspian acquisition; adviser
proposals welcome, source says
Story China National Offshore Oil Corporation (CNOOC), the
listed Chinese oil major, has held early-stage discussions
with Max Petroleum and Dragon Oil to acquire a Caspian
oil and gas asset, according to a CNOOC company
source.
CNOOC is striving to acquire an upstream offshore oil
and gas asset in the Caspian region with roughly 100
million barrels of reserves, the source said. Dragon Oil,
the Turkmenistan-focused, dual-listed oil and gas
producer, and Max Petroleum, the AIM-listed oil and gas
company, both have assets in the area.
CNOOC does not have a local financial adviser in place
and would be welcome to approaches, the source said.
"We have the funds available," said the source. "And we
would be happy with a minority stake of 20% to 25%."
The source explained that CNOOC has been in talks with
both the Kazakstani government and domestic energy
giant KazMunayGas in the past.
This news service reported this week that Max Petroleum
plans to spin off Astrakhanskiy LLP, an upstream oil and
gas field in Kazakhstan, for USD 50m to USD 100m and
has had interest from six companies, including GDF Suez
and KazmunayGas.
The source said that CNOOC is keen to push ahead with
an acquisition in the Caspian after some of its domestic
competitors continued to make progress in the region.
Dragon Oil and Max Petroleum did not comment by the
time of publication.

By Rob Hartley
Source dealReporter
cyril

No idea if it is relevant to this but CSH (Caspian Holdings) rose 100% on Friday.

I will be going to the AGM tomorrow and I plan to ask about the CNOOC reports. I'll probably get a zero response, but it's worth asking.

Please let us know how you get on..

AGM was a much more relaxed affair than the EGM earlier this year. I had the distinct impression that the directors were quietly confident about the future of the company.
Rob Hartley's news report was dismissed as nonsense by Mike Young, but you would expect this reaction and something makes me think that there may indeed be some truth in it. Farm-out discussions are indeed underway although management was trying to manage expectations by saying that any deals were some way off.
The drill starts to turn in a couple of weeks once Kazakh formalities have been completed. The drilling base will serve for the first three new shallow prospects after the two development wells have been drilled on ZM. If successful, the first three prospects could eventually prove up circa 100 million barrels of oil. As these prospects have all been evaluated as a result of the 3D seismic that has cost the company so dear, I am hoping that we will encounter a high degree of success.
Shallow prospects don't take too long to drill, so we should be a lot clearer by Christmas.

Many thanks LG. holding tight and may buy a few more. BB

Thanks LG,i think its time is coming and perhaps a top up soon at this bargain price ?
cyril

Check out the bargain !.....this is a crazy sp at the moment.....potential like Gulf Keystone with 2000 barrels of oil ticking over now....there may never be a better time than now....massive drilling program underway....

Go baby...go.....ttttcctetetetete...(noise of train steaming away)....tetetete....

tuuuttuuuttt....(horn).....tetetetetet....

Well it's chugging along nicely now....

tuftuftuftuftuf.....should climb further on moday...

i'm really worried about you RF....lol

I was wondering when somebody would blog on here, I was thinking of pulling silly faces and things like that...what do you make of this one then....big drilling campaign up and running with first well being tested as we speak, perhaps results on monday...second well to spud very soon, the sp has dived as of late but I reckon that a climb back to the mid twenties is not that far off.

Time to top up and hold tight. imo

It looks like a good one.....the sp is so low...

Tell it straight, its heading south with no resistance, later today its going to dump like a pig because no one in there right mind would sail a weekend on this boat, chart above says it all.

That isn't harsh, I don't like lying.

I'm serious, don't buy off anyones say so, its gonna drop over the next week and sink lower towards the end of December into January.

... and RF, it doesn't look good at all.

Big drilling program up and running.....loads of wells being drilled and one on test as we speak with 8m net pay, followed by another well about to be spudded any moment....at least 10 wells plus a farm in for the deeper prospects.....now is the time to buy not later if and when it gets back to and over the 25p mark.

... Lots of loss today as well, still its nearly a week later than when I said about it dumping ...