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

dont forget some estimates that mxp have up to 5billion barrels oil - every confidence here - hope to top up more soon - dont forget where mxp are - the country has huge oil reserves ranked 11th in the world - some interesting docs here and within site lol
https://www.cia.gov/library/publications/the-world-factbook/fields/2176.html?countryName=Kazakhstan&countryCode=kz&regionCode=caskz

1. Max Petroleum (MXP)

Oilbarrell.com summed this up well yesterday: Max Petroleum is now one year into its 13-well post-salt drilling campaign on Blocks A&E in Kazakhstan and the jury is still out on how to rate the campaign. Twelve months ago, when Max spudded the first well, BOR-1, the shares were trading at 20 pence each. Now, with seven wells drilled to date and two discoveries in the bag, the shares are trading at 21.75 pence.

Admittedly they have had their share of dusters which have kept the share prices feet on the ground, but Max are producing.

Target: Another good hit should take it to 40p, a large hit or two and this should be worth upwards of 50-60p in the next 3-6 months.

good day today - expecting more soon - gla

related

http://www.hydrocarbons-technology.com/projects/tengiz_chevr_oil/

from the twilight zone - lol

'Also from the website: "In the period from 17th to 21st of January the Ministry negotiated the terms of how to save the contract with that 48 rule-breakers.". So it seems that MXP have already negotiated with the Kazak authorities. Presumably they came to some sort of amicable arragement else the SP would have well and truly tanked by now.'

very good news....

BRIEF-Max Petroleum completes UTS-1 well testing
Mon, 31st Jan 2011 07:20

LONDON, Jan 31 (Reuters) - Max Petroleum PLC:

* Completed testing of the UTS-1 well in the Uytas field, successfully

producing 27 degree api oil

* Well will be placed on a 90-day production test after all necessary

government approvals are obtained

* Jurassic reservoirs in the well are of excellent quality, with porosity

averaging 29 percent

* This test, combined with the large volume of oil in cretaceous, confirms

Uytas as a significant post-salt discovery

((London Equities Newsroom; +44 20 7542 7717))

excellent - shows great confidence et cetera

http://www.investegate.co.uk/Article.aspx?id=201102020700055244A

Extension of credit facility and fund raising now coming. Early march for the new shares. Stay out until then, imo.

Best thing is to hold if you are already in....like myself...

Interesting that they haven't announced the result of the book building for the placement.

My experience is that it completes later that day (ie yesterday)
With the sp heading south maybe they are struggling to get it done. With JJB now under their placing price it is evedent that market conditions at this very moment are very poor.

StockMarketWire.com
Kazakhstan-focused oil and gas company Max Petroleum said it had raised $85m gross via a placing of 310m new shares with institutional investors at 17p, a 10.5% discount to the closing price on Tuesday (Feb 2).

The new shares represent about 69% of the company's issued share capital before the placing and conversion of warrants.

President and CFO Michael Young said, 'This successful offering will provide the capital to test our exciting deep pre-salt portfolio as well as continue with our shallow post-salt programme.'

The shares were up 0.75p at 18.75p.

i think the estimated 1 min. to 5 billion pot. boip helps a tad...

i would not want to be outta mxpp over the weekend - yeeeeeeeeeeee haaaaaaaaaaaaaaaa!!

INTERVIEW: Max Petroleum To Start Deep Drilling In August

By Jason Douglas

Of DOW JONES NEWSWIRES

4 February 2011

10:30

Dow Jones International News

LONDON (Dow Jones)--Oil and gas explorer Max Petroleum PLC (MXP.LN) Friday said it will start drilling the first of up to four deep exploration prospects in Kazakhstan in August after raising $85 million in a share sale.

Max Petroleum said Friday it raised more than the $75 million it was aiming for in a share sale announced Thursday.

Chief Executive Michael Young told Dow Jones Newswires the company and advisers Macquarie and JP Morgan Cazenove expected the fundraising to take up to two weeks but were able to close the deal early because of strong interest.

"We had a very good response from the investor community," Young said.

The fundraising went hand-in-hand with a capital reorganization that pushed out repayment dates for loans and convertible bonds by about two years, which will enable the company to focus on its exploration program, Young said.

The program includes exploring two prospects onshore in an area called the pre-Caspian basin at depths of between 5,000 and 7,000 meters, which could contain up to 1.06 billion barrels of oil equivalent. The geology of the prospects is similar, albeit smaller, to Chevron Corp.'s (CVX) enormous Tengiz field, Young said.

Young said Max Petroleum intends to begin drilling the first of these in August and the operation will take about six months. If successful, it intends to drill a second well nearby but if not it still has two other deep prospects to check out, he said.

The company's drilling program also includes exploration and appraisal of shallower prospects in Kazakhstan that, if successful, will enable the company to boost production, Young said.

LOLarooooooooooooooooooooooooooooooooooooooooo

http://www.screencast.com/users/sniffer78/folders/Jing/media/3616c65e-cbcf-419d-a720-dbea114ef396

http://www.screencast.com/users/sniffer78/folders/Jing/media/2d80a0c0-eb7c-4ed6-93fe-d785f1a2ea30

http://www.screencast.com/users/sniffer78/folders/Jing/media/f7e931b9-84d3-472d-8dcf-1e1e051f6f8e

remember cash in the bank now in addition to oip et cettttttttttt errrrrrr rraaaaaaaaaaaaaaaa

Goldman Sachs - raise MXP to buy from neutral....just out

kerrrrrchinnnnnggggggggggggggggggggggggggggggggggggggaaaaarinnnnngggggggggggggg

*DJ Max Petroleum Raised To Buy From Neutral By Goldman Sachs

(END) Dow Jones Newswires

February 04, 2011 08:53 ET (13:53 GMT)

Copyright (c) 2011 Dow Jones & Company, Inc.

(END) Dow Jones Newswires

February 04, 2011 08:54 ET (13:54 GMT)

Drilling starts in august. That is way off in the future. Sideways trading for the next few months imo. I see no reason to get in yet.

Same thought crossed my mind, hope it'll drift back to get in later.,.

hc, bb - that certainly is an option and yep maybe sideways next month or 2, but when situations like this occur will not take much to push north quick (equally south!!!) as mxp a med to long for me the odd point or two either ay not a problem - but i would rather be in than put right now - and there are t/o whispers not right now but a few months down the line - but yeah why not good luck with your strategies chaps hope it works out ok - interesting times ahead next 3 to 9 mths

but i see mxp as much derisked now - & interesting gs rating which i consider on the low conservative side