27 Jul 2015 10:00
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Don't have an account? Click here to register.Max Petroleum soars on positive result at Zhana
Tue, 10th Jun 2014 14:45
Independent oil and gas exploration and production company Max Petroleum saw its shares surge on Tuesday after it revealed positive results at the ZMA-E7 development well in the Zhana Makat Field. After reaching a depth of 997 metres, the well encountered hydrocarbons in line with its expectations. It now plans to complete the well and then place it on production as soon as practicable.The group said the Zhanros ZJ-30 rig will be mobilised to the Zhana Makat main camp where it will be stacked, ensuring the rig is ready to drill the ZMA-E8 well once regulatory permission to drill is granted, expected in the third quarter this year. "The estimated total cost to drill the ZMA-E8 well is less than $1m, in line with other wells drilled at Zhana Makat, and will be targeting a potentially significant extension of the Zhana Makat Field to the south east of the existing appraised area," the company said.Shares had soared 34.3% to 1.39p by 15:06. NR
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20 Mar 2015 16:53
Max Petroleum's Kazakh bank accounts suspended, exports halted
March 20 (Reuters) - Max Petroleum Plc's bank accounts in Kazakhstan will be suspended due to non-payment of taxes and its export sales had been halted as the debt-laden oil and gas company continues its attempts to secure funds. The company, which has most of its assets in Kazakhstan, said
Read more20 Mar 2015 16:20
19 Feb 2015 14:22
19 Feb 2015 13:32
Max Petroleum rockets on debt refinancing hopes
After its shares rocketed from their very low base on Thursday, Max Petroleum said it was confident of successfully refinancing the company's debts. The AIM-listed exploration and production tiddler confirmed the "reasonable prospect" that discussions with its bank and major shareholder would be suc
Read more9 Feb 2015 11:19
9 Feb 2015 09:13
UPDATE 1-Max Petroleum in last-ditch attempt to stay afloat
(Adds details, background, share movement) Feb 9 (Reuters) - Oil and gas company Max Petroleum Plc said the slump in crude oil prices would render its business insolvent unless it restructured its debt and secured a significant investment, wiping out 86 percent of its market value. T
Read more9 Feb 2015 08:54
Max Petroleum in do-or-die refinancing talks
Max Petroleum said it is desperately trying and renegotiate its debts and conclude refinancing talks with is bank and a possible equity investor as the oil price collapse has rendered its operations "unviable". Management said there was a "reasonable prospect" of a successful conclusion to the talks
Read more9 Feb 2015 07:36
Max Petroleum says needs investment, debt restructuring to stay afloat
Feb 9 (Reuters) - Oil and gas company Max Petroleum Plc said the slump in crude oil prices would render its business insolvent unless it restructured its debt and secured a significant investment. The company, which has most of its assets in Kazakhstan, said it was continuing talks with Sb
Read more