Sub 1p seems likely now given the trajectory of the share price, lack of any good news and no obvious game-changing events likely now (NUR1 etc). 8 million 2Ps has an undeveloped value of between $80-100 million, which covers the debt but there's nothing left over to add to company value. The current market cap of circa £20 million probably represents some residual value, some hope that there might be something more in the bag, or just long-term holders unwillingness to sell. At this point in time the company has no value, the SP should be closer to zero than it actual is if you value it on assets minus debts.
Someone on iii recently said Max is now just a debt repayment vehicle. Have to say I agree with them.
I also said were did you get that 10p soon and takeover coming.. Still laughing at that one.. Guess I was correct when I posted this will drop to 1p when you were spouting 10p Hopefully saved many private investors buying in at 4p Still see no uptrend here folks. Lot of people blasting robster for stating the blind obvious. Where do you see this dropping to robster?? I'm now thinking if it drops below 1p will settle around 0.5 mark....
Max Petroleum Plc, an oil and gas company focused on Kazakhstan, today announces that it has completed drilling the KZIE-3 appraisal well in the East Kyzylzhar I Field to a vertical depth of 1,315 metres without encountering sufficient hydrocarbons to be commercial and it will be plugged and abandoned. The Zhanros ZJ-30 rig will next move to the Zhana Makat Field to drill the ZMA-E7 development well.
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