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

Shame...we did not find this out before...but still..great discovery..this share should be around 30p.....I would never have guessed a 9p drop from 29p in the same day....ridiculous....

RF this is i believe from a good source?
cyril

Whole lot of news building up here which will be released in good time. Reserve numbers for ZM, BOR and UTS will be near 100MMb. Pressure readings have been taken at UTS so they know oil Api and potential flow hence why they have run production casing and announced the well as a significant discovery. If the rest of the 80m column flows as per the 16m interval (which they must think it will as the 16m told them enough to get on with the rest of the drilling without further logging) then 100MMb will be conservative. I think there are still doubts about what's really happening from those who have been in for a long time but the company has the bit between it's teeth now. New broker coverage not forthcoming yet and price will be held for a while. Interesting there has been no immediate broker comments after the UTS drill, unlike those with the other drills.

Don't know why but MXP has spiked this am,took the opportunity to sell and in doing so a resonable profit.
cyril

Seem to be a lot of good buying at the mo trades of 150000+ going through. Think I'll hang on for a bit.

Yes plenty of action,moght take out another position if it drops below 20p,to take it past the testing period?
cyril

I'm convinced that the sp will rise as we get closer and closer to testing....

And up she goes...just has to climb...

Can't make up my mind whether to hold or trade these. Probably should do both. Sp is all over the place.

sold out at 22 and was hoping for a 17-18 to get back in.

http://www.energy-pedia.com/article.aspx?articleid=142239 27 Sep 2010

Max Petroleum, an oil and gas exploration and production company focused on Kazakhstan, has announced that it has executed a drilling contract with Sun Drilling for a second rig capable of drilling to 3,600 metres. The ZJ-40 rig will mobilise to drill the ASK-1 exploration well on the Asanketken Prospect on Block E, and is expected to commence drilling activities on or around 30 November 2010. The Z-J40 rig will then be utilised in conjunction with the ZJ-30 rig to drill additional exploration and development wells in the Company's ongoing post-salt drilling programme

www.centralasia.rencap.com/download.asp?id=11667

Time the sp rose....

StockMarketWire.com
Max Petroleum starts drilling at SEKW-1 exploration well.
[The Company has commenced drilling the SEKW-1 exploration well on the Sekir West prospect in Block A, the seventh of 13 post-salt exploration prospects scheduled to be drilled by the Company on Blocks A&E. The total depth of the well will be approximately 600 metres, targeting potential Jurassic and Triassic reservoirs. In Block E, the Sun Drilling ZJ40 drilling rig has arrived on location to drill the ASK-1 well on the Asanketken Prospect, but commencement of drilling activities has been delayed by the contractor until early January 2011 pending the arrival of certain additional equipment required to drill the well. In addition, the Company has issued tenders for a drilling rig with a 7,500m depth capacity and for other long-lead items in preparation for evaluating a Type II pre-salt prospect in mid-2011.]

Buy now... cheap as chips.

The Company has commenced drilling
but commencement of drilling activities has been delayed by the contractor until early January 2011

Which of these statements is correct??

Judging by the performance of the sp, delayed. I think sp will drift a little further, so not going to top up yet.

forget that just read latest rns......emu

Extension of Blocks A&E Licence Exploration Period
15th December 2010

Max Petroleum Plc, is pleased to announce that the exploration period of the Company's Blocks A&E Exploration and Production Licence (the "Licence") has been formally extended until March 2013 by the Ministry of Oil and Gas of the Republic of Kazakhstan. The Company operates Blocks A&E through its wholly-owned subsidiary, Samek International LLP.

StockMarketWire.com
Max Petroleum plc narrowed its loss and reported a 20% rise in revenue for the six months to September.

Loss for the period was $13.3m, compared with a previous a loss of $113.9m which included $101.9m of non-cash charges arising from restructuring of the group's borrowings.

Operating loss was $5.5m against the previous $1.9m, including exploration and appraisal costs of $5.2m, previously nil. Revenue rose to $24.7m from $20.6m.

Total sales volumes of 378,000 barrels of crude oil were down 6% from 401,000 bbls in H1 2009. The average realised price of $65.21 per bbl was up 27% from $51.51 per bbl.

Net cash generated from operating activities fell by 16% to $3.4m from $4.0m.

The group said current production of around 2,000 barrels of oil per day was generating more than $4.5m of revenue each month.

It planned to increase near-term production by working over two wells currently offline in the Zhana Makat Field in December, as well as bringing up to seven new wells online by March 31.

The group said it had the potential for significant growth over the next 12 months based on continued drilling of its post-salt exploration portfolio, appraisal and development of existing shallow discoveries, and drilling of a deep Type II prospect in mid-2011.

had these at 16p and sold at 21p now back in at 17p and up to 18p so far.....lovely.,.