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Max Petrol Share Chat (MXP)



Share Price: 1.28Bid: 1.26Ask: 1.30Change: -0.01 (-0.78%)Faller - Max Petrol
Spread: 0.04Spread as %: 3.17%Open: 1.28High: 1.28Low: 1.26Yesterday’s Close: 1.29


Share Discussion for Max Petrol (MXP)


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maybeoneday
Posts: 255
Off Topic
Opinion:No Opinion
Price:1.43
Mav
14 Mar '14
Corporate update does not suggest Nur-1 will be drilled..

The Company intends to maintain the organisational capacity to resume drilling its NUR-1 deep well while efforts to obtain financing continue. Negotiations with prospective partners are, however, no longer currently in progress.

No financing !! No drill.
Mxp fluffed the drill twice and failed. Cost us £50 million for a hole. Finance this and fail again will be terrible..
 
MaverickD
Posts: 4,713
Off Topic
Opinion:No Opinion
Price:1.42
Kea
14 Mar '14
Anyone see their 1 week chart........well that will be us one day soon - mark my words and I will remind you of my post guys
MaverickD
Posts: 4,713
Off Topic
Opinion:No Opinion
Price:1.46
Nur-1
14 Mar '14
Simply will be drilled.......just wait for production to get to 6000+ barrels. The well will take 2 months max to complete as although it is classed as a "deep" at 7250 metres, it has been drilled to 5,500 metres so 1700 metres to go. It will be side tracked and needs to penetrate the salt layer. If there was no salt I think it would take them only 4 weeks. 2 year extension in place until May 2015 on blocks A & E - there are 2 deep prospects Emba A (Nur-1) and Emba B.

http://www.investegate.co.uk/max-petroleum-plc--mxp-/rns/update-on-nur-1-pre-salt-well/201308140700116332L/

http://www.investegate.co.uk/max-petroleum-plc--mxp-/rns/drilling-update/201301280700094560W/

http://www.investegate.co.uk/max-petroleum-plc--mxp-/rns/regulatory-update/201305150700107463E/

I think boosting production and improving reserves figures is what MAX will be working on in the short term.

The deeps will be drilled
TheRobster
Posts: 2,937
Off Topic
Opinion:No Opinion
Price:1.40
shareking1
13 Mar '14
NUR-1 license was extended so that Max could try and find a partner to provide funding to finish the drill. This didn't happen so NUR-1 is most probably never going to be completed. The long process to test the finds and put them on production is more to do with Kaz regulations and red tape than anything Max are doing.
shareking1
Posts: 28
Off Topic
Opinion:No Opinion
Price:1.39
nur1
12 Mar '14
What was the point in renewing the nur liecence if they are not gong to do nothing with it. I am sick of max putting wellsnon test and never hearing any results.there should be a investgation into the running of this company.
ChelseaBoy
Posts: 63
Off Topic
Opinion:No Opinion
Price:1.39
Back in the Day
12 Mar '14
Just looked at the historic share chart for MXP and back in the day (July 2009) this sp rocketed from 6p to 30p in the space of a single month. Is it fair to say that those halcyon days are long gone and that this AIM dog has had its (never to be repeated) day. (I wasnt involved back then) Any of you guys recall what started off that flurry north for the SP?

CB.
Drainboy
Posts: 63
Off Topic
Opinion:No Opinion
Price:1.35
View Thread (2)
RE: Mxp
12 Mar '14
At some point it might well be worthwhile.
8.6m in reserves, worth $10pb offsets the $80m debt with not much left over. $10pb is probably a little low when netback is $25-$40.

I reckon they'll be able to firm up more reserves, cut production costs, increase production and get fields onto FFD with time.

Still thinking that the shallow are worth 2-3p long term, but as it's a risky investment you'd probably want to wait until the price has carried on sinking before it's worth that risk. Not a falling knife I'm willing to try and catch myself, now at least.
guru121
Posts: 2,445
Observation
Opinion:No Opinion
Price:1.35
View Thread (2)
Mxp
12 Mar '14
I was here,when Mxp was trading between 13-15p.
I really feel sorry for the investors here.
Do you gents think,it can turn out to be good recovery play?
TheRobster
Posts: 2,937
Off Topic
Opinion:No Opinion
Price:1.43
ChelseaBoy
12 Mar '14
I don't think I'll be investing in any AIM companies ever again never mind the oil & gas ones!
ChelseaBoy
Posts: 63
Off Topic
Opinion:No Opinion
Price:1.47
The Robber(ster)
11 Mar '14
With respect Robbo, your more than unfortunate foray into MXP, combined with my own unfortunate foray into MXP means that a repeat could be just waiting to happen with RXP. Thanks, but no thanks, ive been burned from fingers to toes on this one and cannot envisage another KAZ oily getting any more of my hard earned.

Cheers.



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