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Max Petroleum down on dig failure
Fri, 09th Dec 2011 10:27
Max Petroleum, the western Kazakhstan-focused oil and gas company, has seen its share price drop this morning on news it has failed to find more hydrocarbons at its ASK-2 well in the Caspian Basin.The lastest, failed, dig had been an attempt to find deposits of hydrocarbons at depths up to 3,412 metres, having already confirmed a discovery between 1,281 and 1,287 metres.ASK-2 will now be converted into a production well to exploit the shallower resources.Max Petroleum's share price had fallen 5.56% to 12.75p by 10:14. Since January the firm's value has fallen 29%.BS
Latest MXP News
- MARKET COMMENT: UK Stocks Trade Mixed As Investors Lack Direction
30 Dec 2013 - Max Petroleum Records Successful Drilling In Sagiz West Field
30 Dec 2013 - Max Petroleum Interim Loss Widens; Downgrades Full-Year Production Target
30 Dec 2013 - Max Petroleum Achieves Mixed Results From Final Two Wells On Uytas Appraisal Programme
19 Nov 2013 - Max Petroleum drilling at Sagiz West and Uytas meets with success
6 Nov 2013 - Max Petroleum Receives Positive Results From Three Drill Tests
6 Nov 2013 - Max Petroleum To Abandon Two Test Wells After Bad Results
16 Oct 2013 - Max Petroleum abandons wells in Kazakhstan
16 Oct 2013
Related News
MXP.L News
6 Nov 2013
Max Petroleum drilling at Sagiz West and Uytas meets with success
Kazhakstan-focused oil and gas exploration outfit Max Petroleum obtained successful drilling results at an appraisal well in Sagiz West and two apprai...
16 Oct 2013
Max Petroleum abandons wells in Kazakhstan
- SAGW-14 and UTS-9 wells abandoned - Rigs move to new wells in fields Oil and gas company Max Petroleum has plugged and abandoned two wells in Kazak...
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