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

Another 10% off.

Lack of funding will spell further disaster.

Could well be correct the end game is 0p but they maybe lucky with their drill.

If MXP is lucky, then that's the time to buy, otherwise I'll stay clear as they haven't got anything to show but bad news.

I'm looking for 2p before I buy.

It will be less than 2p when they are desperate for cash.

On the move again, 2p....... twerp.,.

Max Petroleum Plc

(the "Company")



Drilling Update



11 January 2013



Max Petroleum Plc, an oil and gas exploration and production company focused on Kazakhstan, is pleased to announce that it has commenced drilling the TOLW-1 exploration well on the Tolegen West prospect on Block E using Zhanros Drilling's ZJ-20 rig. Total vertical depth of the well will be approximately 1,600 metres. The Tolegen West prospect is a four-way anticline targeting unrisked mean resources of 8 million barrels of oil in Triassic reservoirs.

Not good.

came out of this pile of st*t with £13 profit last jan.,.

lol.

Got some ealier as the news sound good ............

MXP says ZMA-E7 to be producing as soon as practicable

Max Petroleum said the ZMA-E7 development well in the Zhana Makat Field has reached a total depth of 997m, encountering hydrocarbons in Jurassic sandstone reservoirs in line with expectations.

"The Company plans to complete the well and then place it on production as soon as practicable," the company said.

The Zhanros ZJ-30 rig will next be mobilised to the Zhana Makat main camp where it will be stacked. The cost of stacking the rig is expected to be immaterial and it will ensure the rig is ready to drill the ZMA-E8 well once regulatory permission to drill the well is granted, expected in Q3 this year.

The estimated total cost to drill the ZMA-E8 well is less than US$1 million, in line with other wells drilled at Zhana Makat, and will be targeting a potentially significant extension of the Zhana Makat Field to the south east of the existing appraised area.

Volume picking up as is share price

A late push at the end after the normal retracement at luch time

another gem you've dug out there, though of course it will still take several years (surely) to bring this well into production ..... and yes, i know you're only looking to ride the momentum fro a fairly short time

another good day with volume aswell and looking like is going over yesterday's 45m traded

yes, though i also note it seems to have boiled over
good luck

StockMarketWire.com
Max Petroleum has narrowed its H1 pretax loss to $0.76m, from a prior-year loss of $3.38m. Revenue was $54.1m, from $46.3m, more than offsetting impairment losses of $6.8m, from nil. Administrative expenses were notably lower, as were exploration and appraisal costs.

Operational highlights:
· Average daily production of 4,239 barrels of oil per day ("bopd") during the six months ended 30 September 2014, up 17% compared to 3,630 bopd during the six months ended 30 September 2013 and up 2% compared to 4,170 bopd for the six months ended 31 March 2014.

· Drilled four post-salt wells, including two successful appraisal wells at East Kyzylzhar I and a successful development well at Zhana Makat.

· Commissioned a new oil pipeline and associated terminal facility in June 2014 that has resulted in a reduction of transport costs of approximately US$4.0 per bbl for production from the Zhana Makat, Borkyldakty, Sagiz West and East Kyzylzhar I fields.

· Implemented a cost-cutting initiative to reduce corporate overheads, including headcount reductions, closure of the Group's Houston office and relocation of the London office.

· The Asanketken field was granted full field development status in October 2014, allowing the Group to export 80% of the field's production.

· The Sagiz West, East Kyzylzhar I and Baichunas West fields are on track to gain trial production status by mid-2015, allowing for continuous production from all wells at those fields, which is expected to bring on stream in excess of 1,500 bopd of production.

Hope nobody is holding here.

ditto mitzy

award for dog of the day perhaps

Statement re suspension
Max Petroleum announces that, following its announcements of 9 February 2015 and 19 February 2015, it has requested that trading in its ordinary shares on the AIM market of London Stock Exchange plc be suspended pending the outcome of final negotiations with Sberbank regarding an appropriate debt restructuring and with AGR Energy regarding an equity investment that, together with the debt restructuring, would render the Company viable.

The Directors of Max Petroleum currently believe that there remains a reasonable prospect that these discussions could result in a sufficient refinancing of the Company and, on that basis, have not yet put the Company into administration.

However, in light of the protracted nature of the discussions as well as outstanding creditor payments, including a material amount that became due on 25 February 2015 to the Kazakh tax authorities and payable in early March 2015, there is now only a very limited period remaining to achieve such a refinancing. If current negotiations are unsuccessful, or if other events outside the control of the Company require that the Company ceases trading while such negotiations are ongoing, then the consequences will be negative for all stakeholders in the Company.

A further announcement will be made in due course.