HARRYCAT
- 01 Mar 2011 13:13
- 589 of 695
Further to the announcements dated 2 February 2011 (the "Placing Announcement") and 4 February 2011, Max Petroleum is pleased to announce that at its General Meeting, held earlier today, the Shareholder Resolutions were duly passed and at its Bondholder Meeting, also held earlier today, the Bondholders approved the Bondholder Resolution.
The Company has raised approximately US$85 million (52.7 million) before expenses through a placing of 309,846,935 new Ordinary Shares to institutional investors at 17.0 pence per share and Admission of the Placing Shares is expected to take place and dealings are expected to commence on AIM at 8.00 a.m. tomorrow, 2 March 2011.
HARRYCAT
- 24 Mar 2011 07:38
- 590 of 695
Max Petroleum Plc. is pleased to announce that it has commenced drilling the ZMA-ET1 appraisal well in the Zhana Makat Field on Block E. The total depth of the well will be approximately 1,450 metres, targeting Triassic reservoirs.
HARRYCAT
- 11 Apr 2011 13:37
- 591 of 695
Max Petroleum Plc, an oil and gas exploration and development company focused on Kazakhstan, is pleased to announce today that the ZMA-ET1 appraisal well in the Zhana Makat Field has reached a total depth of 1,472 metres, with electric logs indicating 22 metres of net oil pay in three Triassic sandstone reservoirs at depths ranging between 1,282 and 1,410 metres. Reservoir quality appears excellent with porosities ranging from 18 to 26%. These reservoirs were the primary objective of this well, which appears to have successfully extended Triassic production and reserves into the southern end of the Field.
The Company is running production casing in the well, after which the Sun ZJ-30 drilling rig will move on to drill the ZMA-ET2 appraisal well further to the south of the ZMA-ET1 well, attempting to further extend Triassic production and reserves in Zhana Makat. The Company will complete and test the ZMA-ET1 well using a workover rig over the next several weeks and will announce production test results as soon as practicable.
HARRYCAT
- 12 May 2011 08:55
- 592 of 695
Max Petroleum Plc, an oil and gas exploration and development company focused on Kazakhstan, announced today an operational update of its activities in the Blocks A&E Licence area in the Republic of Kazakhstan.
Narmundanak South
Drilling has commenced at the NARS-1 exploration well on the Narmundanak South prospect in Block E, the tenth of the Company's 15 post-salt exploration prospects. The total depth of the well will be approximately 1,700 metres, targeting Triassic reservoirs.
Asanketken
Drilling at the ASK-1 exploration well in the Asanketken prospect on Block E has been slower than expected due to mechanical problems encountered with the drilling rig that are currently being addressed. The well has not yet reached the primary Triassic target section between 2,800 to 3,250 metres, which the Company expects to evaluate in the next several weeks. The results of the well will be announced after the Company reaches its target depth of approximately 3,300 metres and logs the well. The Company earlier announced a Jurassic discovery in the ASK-1 well with 24 metres of net oil pay at depths between 1,230 and 1,302 metres.
Zhana Makat
Drilling at the ZMA-ET2 appraisal well in the Zhana Makat Field has reached total depth at 1,492 metres and is preparing to log. The Company has taken four 18m cores in the well.
HARRYCAT
- 16 May 2011 08:26
- 593 of 695
Successful Triassic Appraisal Well Drilled in the Zhana Makat Field
16 May 2011
Max Petroleum Plc, an oil and gas exploration and development company focused on Kazakhstan, is pleased to announce today that the ZMA-ET2 appraisal well in the Zhana Makat Field has reached a total depth of 1,492 metres, with electric logs indicating 18 metres of net oil pay in three Triassic sandstone reservoirs at depths ranging between 1,283 and 1,358 metres. Reservoir quality appears excellent with porosities ranging from 18 to 26%. The Company is running production casing in the well. The Company will complete and test the ZMA-ET2 well using a workover rig after obtaining the requisite governmental approvals, and will announce test results as soon as practicable.
gibby
- 17 May 2011 06:37
- 594 of 695
another step nearer then
gibby
- 23 May 2011 07:47
- 595 of 695
whoops - today's rns - scratch that step nearer for now - expect some south early here!
mitzy
- 23 May 2011 08:27
- 596 of 695
Oh dear..here we go again.
Balerboy
- 23 May 2011 08:35
- 598 of 695
Nor me.,.
hlyeo98
- 24 May 2011 08:10
- 599 of 695
Sell MXP. 10p on the way.
HARRYCAT
- 06 Jun 2011 07:53
- 600 of 695
StockMarketWire.com
Max Petroleum Plc, has announced an operational update of its activities in the Blocks A&E Licence area in the Republic of Kazakhstan.
Discovery in Narmundanak South.
The NARS-1 exploration well on the Narmundanak South prospect in Block E has reached total depth of 1,589 metres with electric logs indicating 4 metres of net oil pay at depths from 1,280 to 1,290 metres in the Triassic Formation with porosities ranging from 18% to 25%.
A fluid sample taken from a depth of 1,283 metres yielded 32 degree API oil. The Company is running production casing in the well and expects to test NARS-1 for commercial viability in the next 60-90 days upon receipt of the requisite governmental approvals.
Borkyldakty Field Placed on Trial Production
The Borkyldakty Field has been placed on production after receiving final approval of the trial production project ("TPP") from the Kazakhstan regulatory authorities.
HARRYCAT
- 13 Jun 2011 07:59
- 601 of 695
Drilling Update
13 June 2011
Max Petroleum Plc, an oil and gas exploration and development company focused on Kazakhstan, is pleased to announce that it has commenced drilling the BOR-3 appraisal well in the Borkyldakty Field. The total depth of the well will be approximately 1,800 metres, targeting Triassic reservoirs.
HARRYCAT
- 04 Jul 2011 08:25
- 603 of 695
StockMarketWire.com
The Kazakh government has approved an extension of the trial production project being undertaken by Max Petroleum, an oil and gas exploration and development company focused on Kazakhstan, at the Zhana Makat field until 15 December 2011.
This is while the company seeks final regulatory approval to convert Zhana Makat to full field development ("FFD") status under its Blocks A&E exploration and production contract.
FFD approval will allow the company to develop and produce the field for up to 25 years, as well as grant it a right to sell 80% of its crude oil production on the export market under the terms of the contract.
Max Petroleum will sell 100% of its crude oil production on the domestic market pending FFD approval, which is projected to be in place during the fourth quarter of 2011. Current oil sales into the domestic market are generating after-tax net proceeds that are approximately $15-$17 per barrel lower than comparable export sales.
The company does not anticipate any material adverse impact to its financial condition or its ability to implement its ongoing post-salt and pre-salt drilling programmes as a result of selling domestically during this period.
The company is currently producing approximately 2,200 barrels of oil per day ("bopd"), generating approximately $3.5m. in net proceeds per month from domestic oil sales. It expects daily production to increase to more than 3,000 bopd during the third quarter of 2011 as four additional wells are brought onto production, including the ZMA-ET1 and ZMA-ET2 wells recently drilled in Zhana Makat, the BOR-3 well in the Borkyldakty Field, and the ASK-1 well in the Asanketken Field.
The BOR-3 appraisal well in the Borkyldakty Field has reached a total depth of 1,688 metres, with electric logs indicating 28 metres of net oil pay in five Triassic sandstone reservoirs at depths ranging between 1,366 and 1,556 metres. Reservoir quality appears excellent with porosities ranging from 18% to 25%.
The company is running production casing in the well, which will be completed using a workover rig and placed on production in July 2011 under the terms of the trial production project ("TPP") for the Borkyldakty Field.
Following BOR-3, the rig will move on to drill the KZIE-1 exploration well on the East Kyzylzhar 1 prospect followed by the SAG-1 exploration well on the Sagiz West prospect, both of which are located in Block E. A second shallow rig is on location at the Uytas Field and is expected to begin drilling the first of three appraisal wells in early July 2011. When the rig has finished drilling all three Uytas appraisal wells it will move on to drill the ZLGS-1 exploration well on the Zhalgyz South prospect in Block A.
Max Petroleum has tendered for a third shallow drilling rig to drill the ASK-2 well in the Asanketken Field to accelerate the drilling of Max Petroleum's shallow exploration, appraisal and development programme. It expects to spud the ASK-2 well in mid-August 2011. Furthermore, the Company is on plan to begin drilling the pre-salt NUR-1 well in the Emba B prospect on Block E in the latter half of the third quarter of 2011.
HARRYCAT
- 12 Jul 2011 15:22
- 604 of 695
StockMarketWire.com
Max Petroleum, an oil and gas exploration and development company focused on Kazakhstan, has begun drilling the KZIE-1 exploration well on the East Kyzylzhar I prospect in Block E.
The total depth of the well will be approximately 1,500 metres, targeting potential Jurassic and Triassic reservoirs.
niceonecyril
- 20 Jul 2011 07:21
- 605 of 695
Max Petroleum Plc, an oil and gas exploration and development company focused on Kazakhstan, is pleased to provide a production update for the Zhana Makat Field.
The ZMA-ET1 well has been connected to temporary production facilities for long-term production testing and is currently producing at a stable rate of approximately 650 bopd barrels of oil per day ("bopd") from perforations in the T4 Triassic reservoir at depths from 1,282 to 1,288 metres. The current production rate has been restricted to 650 bopd while the Company monitors the level of gas production from the well.
The Company has also perforated the ZMA-ET2 appraisal well, successfully flowing 48 degree API oil at an equivalent rate of approximately 450 bopd from perforations in the T5 Triassic reservoir from depths of 1,315 to 1,321 metres during a limited flow-back period. The well will be connected to temporary production facilities and brought onto long-term production testing in August 2011. The Company expects the well to produce at a stabilised rate of approximately 500 bopd.
Michael B. Young, President and CFO, commented:
"We are on track to increase aggregate daily production during the current quarter to approximately 3,500 bopd, which is a significant milestone for the Company."
AustrianRetreats
- 20 Jul 2011 10:46
- 606 of 695
Good news the latest RNS, would be nice to see the SP react accordingly though.
HARRYCAT
- 08 Aug 2011 07:58
- 607 of 695
StockMarketWire.com
Max Petroleum Plc, has announced today that the KZIE-1 exploration well in the East Kyzylzhar I prospect has reached a total depth of 1,620 metres, with electric logs indicating 17 metres of net oil pay in two Jurassic sandstone reservoirs at depths ranging between 987 and 1,251 metres.
Reservoir quality appears excellent with porosities ranging from 20% to 30%. The Company is running production casing in the well, which is expected to be completed and placed on test production in approximately 60-90 days.
Robert B. Holland, Executive Co-Chairman, commented: "We have now made five field discoveries since we renewed our post-salt exploration programme in January 2010, with another three post-salt prospects to test this quarter alone.
"We are well positioned to execute on our exploration programme regardless of macro market conditions and look forward to continue generating significant value for our shareholders in the very near-term."
HARRYCAT
- 15 Aug 2011 08:29
- 608 of 695
Drilling Update
15 August 2011
Max Petroleum Plc, an oil and gas exploration and development company focused on Kazakhstan, is pleased to announce that it has commenced drilling the UTS-3 appraisal well on the Uytas prospect in Block A. The total depth of the well will be approximately 800 metres, targeting potential Cretaceous and Jurassic reservoirs.