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

Not a loss really Balerboy it went through my stop loss.

This is looking very weak.

They are drilling one well a month....can't go by anything today as everything is down....if you believe in one or two aim stocks...perhaps time to buy...

A disaster.

Fantastic.

Nice rebound...

I missed again..!

stay off the vodka then..

Weak again.

This is the trouble with places like that.....still in with a smallish holding which I shall retain....but ......you never know what's lurking around the corner....still, it has some very promising oil assets.

Max Petroleum Plc

Astrakhanskiy Licence Status

19 July 2010

Max Petroleum Plc, an oil and gas exploration and development company focused on Kazakhstan, announces today that it has received a letter from the Ministry of Oil and Gas of the Republic of Kazakhstan ("MOG") notifying the Company of the termination of its subsoil use licence for the Astrakhanskiy Block in Western Kazakhstan (the "Astrakhanskiy Licence") due to the Company's failure to comply with the work obligations stipulated under the Licence. The letter does not affect the Company's principal asset, the Blocks A&E licence area.



The Company believes the MOG's position reflects a broader policy change regarding the treatment of subsoil use licences behind in their work obligations. The Company had already decided not to drill an exploration well on the block without a partner and has obtained assurances from its senior lender, Macquarie Bank Limited, and the holders of greater than 85% of its convertible bond holders that a termination of the Astrakhanskiy Licence would not constitute an event of default under the Company's outstanding debt agreements. Accordingly, the Company does not believe the MOG's action will have any material adverse affect on its liquidity, financial condition or prospects. Nevertheless, the Company believes the MOG's action is premature and is consulting with counsel and arranging discussions with the MOG to consider its alternatives.

Good news !...on it's way to 20p again ?.....

48% increase....golly !......

Up again...looks set for 20p once more....

Why didnt I buy these @10p..lol.

don't know....why didn't you??

Because I'm a fool...lol.

lad I didnt buy now.

lol.

(the "Company")



Drilling Update

19 October 2010

Max Petroleum Plc, an oil and gas exploration and development company focused on Kazakhstan, is pleased to announce today that the UTS-1 exploration well on the Uytas prospect in Block A has reached an intermediate depth of 300 metres with electric logs indicating 16 metres of net oil pay at depths from 60 to 76 metres in the Cretaceous Formation, with a potential 86 metre thick oil column present at depths from 60 to 146 metres. The Company has run casing over this portion of the well and will continue to drill ahead to a total depth of approximately 900 metres to evaluate its principal exploration target sands in the Jurassic and Triassic sections. The Company will test the shallow Cretaceous zone after evaluating the deeper horizons.

Robert Holland, Executive Co-Chairman, commented:

"The initial results of Uytas are very encouraging and could prove to be significant given the apparent size of the oil column. While we need to finish drilling the well to evaluate it fully, we are excited to have a potential commercial discovery before reaching our principal objectives."

Roughly how long to drill to 900 metres?