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

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?

"15/10/10 07:36 Max Petroleum PLC (MXP) Max Petroleum starts UTS-1 well drilling".
On this basis we are talking about 8-10 days for a further update!

Max Petroleum Drilling Produces Net Oil Play
Send to a Friend
Print
Max Petroleum's UTS1 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 reported in a news release. Max Petroleum Plc 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.
Max Petroleum Executive Co-Chairman Robert Holland said, 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.
Copyright 2010, Max Petroleum. All rights reserved.

Looking good....

Amazing discovery of up to 35mbo.

FDC Flashnote - Max Petroleum BUY

This was a make or break well for Max Petroleum and a lack of success would have raised a lot more questions for the Company. The Uytas prospect is a 4 way dip closure and success validates the charge model. The previous failures in the programme are most likely due to non-sealing faults invalidating the traps. The shallow depths raise the concern of biodegradation of the oil and therefore possible presence of difficult to move heavy oil; nevertheless the structure has been charged and is a valid trap that is likely to be also valid and charged deeper down, where the main objectives are at depths of 500-900m.

Hence a great result for the Company.

Recommendation

We maintain the Buy rating with a price target of 50p

Wey hey hey hey...

5 0 p will do .

yep 20p good - 50p very good - good day expect more tomorrow perhaps - rns due next 7 days i think - gla

Looks like a very bad day tomorrow on the markets, so MXP might not go any further for a day or two.

Not in at the lowest point but have held a little while at 16p so very glad i'm here for the ride.

hc - i like the enthusiasm - keep it up - lol - gl

and up another 20%.

Yes, sorry about that gibby! I was watching the DOW drop 200 points the night before & oil & gold following suit. I was therefore expecting the FTSE to take a dive today, but hasn't happened so far. MXP doing well!

reuters buy rating mxp - http://uk.reuters.com/business/quotes/overview?symbol=MXP.L

hc - understand the reasoning - mxp outside of that for now - more news imminent - more wells to drill - lots of upside potential here - been a good week with this & des and a few others - gl

gibby...you really have to learn to use the link.....lol