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

Does anybody know why MAX crashed?

hedge fund selling 20million shares

That'll do it every time. ;-0

good performance today though, even if it requires some quite brave money

Hope the hedge hogs got burnt!

Anyone is holding this stock?

fundamentals have not changed ...

erb , fundamentals as you say have not changed , all the action seems to have been of a technical nature with the rumour now that RAB shorted the stock on the basis that some large cfd holders were in trouble. who knows?

Technical or not ..i dont care. Just picked up a chunk today at 1.13..cant resist at these levels.

ttt

I've been to the MXP website. There's a lot of promises there isn't there? Was also weighing up their mkt cap vs others. For example JKX is 547m ve MAP 363m. That's awfully close given what's proven and producing.

MXP need more concrete finds and production, don't they? ;-0 Even at this price? Hmm

1500bpd at the mo and thanks , Doc

Yeah. Not much is it? However, just noticed WNL mkt cap is 265m. Now that is nuts!

plan 7500bopd production.


just words though until delivered.

This stock is all about 'promise' from some of the best prospects in the world. MXP are expected to announce a farm out to an oil major any time now. This will get the sp on the move again. I hold, and have doubled up at these low levels. With this stock either you believe in the potential or it's best to keep clear. Not a stock that will let you sleep soundly at night.
Fundamentals haven't changed, the price dive was due to technical factors. Story / rumour is that Cazenove bought a lot of stock from a forced seller closing out a CFD position. They are now trickling it out into the market in orderly fashion to keep the price stable - and probably making a very nice profit into the bargain.

Anyone still holding this stock?

yes. added around 100p.

what are your thougths on this stock? MXP have been declining.

Buy low and sell high!

These are looking good at this price