If it had not been oil on this drill would have only have dropped by the equivalent 3% that we rose due to the discovery? We rose 3% on this discovery, so effectively the market is saying this news update is worth 3% to the enterprise value of the company . But we all know had it been a duster, max being max we would of been punished much worse than the same 3% that mr market has valued it at! Or do we simply just still need those des, solo, rockhopper, roxi type flow rates ?
No fast buck,just hold on in there,don't expect to much,if the shorters have there way buy and grab a few more shares,hold long time,things will change, BOD back in favour with me,one big plus and slip the minus in,then one day the shorters will get stuffed,keep thinking about nur-1.time moves all things,even MXP,down when your at the bottom,just don't expect Miricals,nice to see another well in
Hi fella, hope you're well. Was another good update from MXP today, glad to see the BOD focusing all efforts on the shallows of late. There does seem to be market forces holding plays such as this back, we have known this for some time. I can only suggest that it is because of the debt. The same applies for POG which has suffered worst than most. Taking a simply view, the debt is a burden which cannot be stripped away over night and will therefore give shorters 'comfort' in their trading. Therefore any positive news and surge in demand is unlikely to effect the fundamentals and so the rise is sold into. Equally any drop is seen as 'warranted' given the debt burden is not being reduced quick enough in the current market. It will be interesting to see whether MXP surprise the markets in their efforts of paying down the debt comes the HY's. atb
Not only is this more oil - it increases the size of the field by quite some way, so further targets can now be mapped and drilled. I hope with this news we get a nice uplift in the sp and getting started for a nice climb upwards!
Max Petroleum Plc, an oil and gas exploration and production company focused on Kazakhstan, is pleased to announce that the SAGW-4 appraisal well in the Sagiz West Field has reached a total vertical depth of 1,558 metres, with electric logs and pressure data from the well indicating 20 metres of net hydrocarbon pay over a 62 metre interval from 1,222 to 1,284 metres. Pay intervals include 16 metres of gas condensate and four metres of oil. In addition, there is a further 17 metres of potential oil pay with lower oil saturation than normally seen in productive reservoirs in the basin that is situated above the oil-water contact at 1,284 metres. Reservoir quality is good, with porosities ranging from 15% to 25%. Production casing is being run in the well and testing of all potentially productive intervals will begin as soon as regulatory approvals are received.
These results confirm that the Sagiz West Field extends four kilometres to the south of the existing productive well at SAGW-3. A multi-well appraisal drilling programme at the Sagiz West Field will resume following the integration of the results of SAGW-4 with the new seismic processing, which is expected to be completed later this summer. Further analysis of the well results and integration with the 3D seismic data will also enable a more detailed estimate of the size of the field. The Zhanros ZJ-30 rig will now move to the Zhana Makat Field to drill the ZMA-E3 and ZMA-A21 production wells.
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