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

Stay out until it all becomes clear by the look of it. ;-))

The best remedy is to actually pump some oil.

................ and far too few of these little outfits do, halifax.

To survive they all must. ;-0

Max Petroleum suspends two directors, trading halted in shares
Thursday, September 6, 2007, 08:00 AM


Events at Max Petroleum (AIM:MXP) appeared to take another turn for the worse this morning after the company announced that it had suspended Chief Executive Officer Steve Kappelle and Cheif Operating Officer Ole Udsen. The company said both directors were being investigated for potential breaches of their employment contracts involving undisclosed receipt of share options. The company added, rather worryingly, that the investigation "will not be limited to these matters". Shares in Max Petroleum were suspended pending a further announcement.

Today's update follows a massive drop in investor confidence in Max Petroleum, which was forced to issue a statement on the 17th August denying any knowledge of why its share price had suddenly collapsed 100 pence from a peak of 215 pence.

Interestingly, Kappelle is also Honorary Australian Consul for the Central Asian republic of Kazakhstan.

MXP has four oil and gas exploration blocks in the former Soviet Union state of Kazakhstan, and is a favourite amongst AIM private investors speculating in the oil and gas junior sector.

***ALERT Max Petroleum Trading Suspended***
The Company announces that it has suspended its Chief Executive Officer, Steven Kappelle, and Chief Operating Officer, Ole Udsen, pending an investigation into potential breaches of their employment contracts involving the undisclosed receipt of share options. The scope of the investigation, however, will not be limited to these matters.

The Company announces that it has suspended its Chief Executive Officer, Steven Kappelle, and Chief Operating Officer, Ole Udsen, pending an investigation into potential breaches of their employment contracts involving the undisclosed receipt of share options. The scope of the investigation, however, will not be limited to these matters.

benrgood ..
Old news !!

Max Petroleum PLC
14 September 2007


Max Petroleum Plc (the 'Company')


Update on Internal Investigation and Suspension of Trading


14 September 2007

The Company announces today that the Channel Islands Stock Exchange has
suspended trading of its 6.75% convertible bonds due in 2011 pending results
from the Company's ongoing internal investigation into the undisclosed receipt
of share options previously announced on 6 September 2007. The suspension of
trading of the Company's convertible bonds is not a result of any finding made
as part of the inquiry. The investigation is progressing and the Company will
update the market at the appropriate time.


Enquiries:

Max Petroleum PLC Michael B. Young
Chief Financial Officer T: +44 (0)20 7355 9590

Peter Moss T: +44 (0)20 7355 9590
Investor Relations Manager

Merlin PR Tom Randell/ David Simonson T: +44 (0)20 7653 6620

WH Ireland Ltd James Joyce T: +44 (0) 20 7220 1666

This news was what brought MXP down from 200p to 100p earlier in the month. It was kept undercover. When MXP comes back, it will go down as shareholders have lost its trust in MXP.

In my view hlyeo, it depends on what other news MXP chooses to release when trading resumes. If it is just an internal issue over options and a board room battle, then any positive update on the operations front could outweigh negative sentiment. We might see a drop initially as weak holders make for the exits, but in my view this will provide others with another opportunity to top up cheaply.
The oil hasn't gone away and at $80 the demand is still there.

I do not understand the latest RNS released:
D-Bank has a notifiable interest of 10,026,688 million shares 3.09% as at 13 Sept 07.

RNS on 5th Sept stated DB has no notifiable interest in MAX.

If the shares are suspended how can DB deal in this? Any thoughts?

Institution to institution,

There's nothing to stop you selling your share certificates to a friend.

If you could find a buyer..................

So who sold/lent and at what price?

If this stock got at 67p went into the hands of shorters, there might be a bit of a fall in the morning......... ??????


http://www.ft.com/cms/s/16040c36-8428-11dc-a0a6-0000779fd2ac.html


........Max Petroleum was a talking point, even though its shares remained suspended.

The exploration company released results yesterday that explained the reasons behind the dismissal of seven staff.

The company said its shares would resume trading next week.

Traders noted there had been an off-market transaction in Max shares on Thursday, with a buyer picking up 2.3m shares, at 67p............................"

I noticed that too, and it worried me as the value of my shares will plummet! Will just have to sit tight I guess.

One has to assess the situation as at suspension and now. IMHO, fundamentally nothing has changed except that the crude price has shot up which should be reflected in the SP. Therefor this is +ve.
However, Max has lost management(bad or good does not matter) which is -ve but with some very good assets, and loss of management, Max becomes a takeover target which will hold the SP in the short term and will go much higer once the TO rumours start in the market.
Farm out news to comeout, again will be very +ve. Here I think the current management will see how the SP settles down before they issue a RNS....
Operations update says they have plugged one of the Wells as commercial quantity of Oil has not been found -ve for the SP but should not impact that much.
The loss reported is not very relevant for an exploration company. Max has cash funds and the aim is to generate inhouse funds which should go higher than at present.... this is +ve. The SP droped in Aug because of the credit crunch crisis and Max got caught in the middle for no reason and there were traders who shorted this stock. IMHO, they will close their deals(shorts) for which they have to "Buy"(Long) and this will have a +ve impact on the SP.
This are some of my main thoughts. Please do your own research.

Good summary hjs. I had a dose of the horrors when I turned on my computer this morning, but I've been stuck in a meeting most of the time and now I've got back to my desk I am more than relieved to say the least.
Long term I still think that this is a winner, but it's been a rocky road so far and I can't see it getting any smoother just yet.
Taken a big hit in the pension fund even at these modest loss levels. Biggest hit however, was with my spreadbet positions where it gapped through my stops and left me with hefty losses. Couldn't have doen anything about it so not beating myself up.

Pond
I am hopeful that Max will move North from here. The facts speak for themselves. Wait for another RNS relating to Farmout and you will see this share go North very quickly.

HJS - I agree entirely. The share price is recovering very quickly and I am quite confident from here onwards. As you say, all we need is the right news to light the blue touchpaper and away we'll go.

Erm. ;-))