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

3 pay zones full of oil and the sp ends right down..crazy.......I'll stay put until much later as I think the company has potential...but disappointing today to say the least on such a fine result.

Heavy trading today but the number of sells didn't exceed the buys by much (not that I have a great deal of faith in the trading stats) but a great surprise to see the sp down 17% at the close. Tempted to buy some more tomorrow depending on the reason for the drop.

Please do Harry !....

not quite as planned today! however i off loaded nearly half my holding at a tad over 27.5 - 2 reasons maybe three - obvious take some profit, cut my risk (although the rns did that also) and if it drops further buy back - even at this level might - see what tomorrow brings - surprised went as low as it did today - role on a month or so when the work over rig has done its job etc

Have you got a shed load of these then rf? (About time you created a profile rf! We need some background info!)
gibby, you may be right to wait a while longer for the rig workover.

Not a shed load...but quite a few....never expected a pullback to 20p with such a good discovery....a bit ridiculous to me...but there you are it's "fait accompli"...

and currently 18.75/19.25

I'll think I'll crawl back into my shoe...got this wrong...will have to stay put...(:-(

thanks hc - if you can hang on rf be intersting what happens in around a month and leading up to it

RF i just found out that next week their are 2m warrents being issued,along with a share placing looking certain,which would be somewhere be;pw 20p imo, probably why the drag on the SP?
cyril

Shame...we did not find this out before...but still..great discovery..this share should be around 30p.....I would never have guessed a 9p drop from 29p in the same day....ridiculous....

RF this is i believe from a good source?
cyril

Whole lot of news building up here which will be released in good time. Reserve numbers for ZM, BOR and UTS will be near 100MMb. Pressure readings have been taken at UTS so they know oil Api and potential flow hence why they have run production casing and announced the well as a significant discovery. If the rest of the 80m column flows as per the 16m interval (which they must think it will as the 16m told them enough to get on with the rest of the drilling without further logging) then 100MMb will be conservative. I think there are still doubts about what's really happening from those who have been in for a long time but the company has the bit between it's teeth now. New broker coverage not forthcoming yet and price will be held for a while. Interesting there has been no immediate broker comments after the UTS drill, unlike those with the other drills.

Don't know why but MXP has spiked this am,took the opportunity to sell and in doing so a resonable profit.
cyril

Seem to be a lot of good buying at the mo trades of 150000+ going through. Think I'll hang on for a bit.

Yes plenty of action,moght take out another position if it drops below 20p,to take it past the testing period?
cyril

I'm convinced that the sp will rise as we get closer and closer to testing....

And up she goes...just has to climb...

Can't make up my mind whether to hold or trade these. Probably should do both. Sp is all over the place.

sold out at 22 and was hoping for a 17-18 to get back in.

http://www.energy-pedia.com/article.aspx?articleid=142239 27 Sep 2010

Max Petroleum, an oil and gas exploration and production company focused on Kazakhstan, has announced that it has executed a drilling contract with Sun Drilling for a second rig capable of drilling to 3,600 metres. The ZJ-40 rig will mobilise to drill the ASK-1 exploration well on the Asanketken Prospect on Block E, and is expected to commence drilling activities on or around 30 November 2010. The Z-J40 rig will then be utilised in conjunction with the ZJ-30 rig to drill additional exploration and development wells in the Company's ongoing post-salt drilling programme