I like many others can see the potential at max being the good news that they have been issuing all year. What concerns me is that the directors are not buying shares at what seems to be very low prices. Given their history this makes me suspicious about the future prospects of the company. If only the institutions who have a substantial holding would club together and get rid of the current bod and install another one we may have the increase in sp that I personally thought would be here by now. I also hold some stock in gkp where this week the m and g fund who only have a 5% stake are trying to install 4 non exec directors to the board. If I'm right I think ii own approx 70% of max...... If they all followed m and g and had an overhaul of the bod we would no doubt be trading at 10p straight away. Com on ii's U know it makes sense!
Still plenty of good news to come. Nothing will shift this at the moment. But every shallow well drilled will help us. Still got 19 months on the extension so plenty of time yet. If not heard anything on the deeps this time next year then I will be worried.
 Spudded 4 November 2011, target depth 7,250m. 9 7/8” casing set at 5,681 M.  Stuck drilling tools at 5,722m in overpressured salt  Drilling operations were temporarily suspended July 4, 2012 and Saipem rig was de-mobilized  Reviewed technical drilling data with independant experts in “Roundtable” discussion. Consensus of experts that well can be successfully completed.  Forward plan is to side track from the lower portion of the well and drill to 7” casing point with 2.2 g/cm3 mud and different drilling parameters  Operations could resume in 2013 pending funding. Estimated cost to drill to TD US$12-20 million  Appraisal extension includes re-entryofNUR-1 and drilling of Kurzhem 1 during the appraisal period.
A licence can always be extended. Just like this one. I'd rather they get the shallows done, in which they are doing well at the moment another drill tendered another hole drilled, more oil more cash. Then I think they will go after the deeps. These shallows are quickly drilled giving us revenue and ramping up production. Don't get me wrong I would like to hear news on the deeps but feel there is still plenty of time in the current licence.
They didn't actually rush the deeps, in fact they waited almost too long before starting NUR-1 (originally license period had to be extended at least once). Also this time they can't afford to wait until the shallow program is well developed and bringing in the cash since NUR-1 has to be completed in a little over 18 months. They need to get cracking else they aren't going to do it.
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