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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 Jan 2014 08:21

Max Petroleum Fails To Find Commercial Oil At SAGW-11 Well In Kazakhstan

LONDON (Alliance News) - Max Petroleum PLC Monday said drilling at its SAGW-11 appraisal well has failed to encounter sufficient levels of hydrocarbons. The oil and gas production firm focused on Kazakhstan said the site was drilled to a total depth of 1,429 metres without finding commercia

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20 Jan 2014 08:17

UK MORNING BRIEFING: Shares Open Lower; Shell Makes Disposal

LONDON (Alliance News) - UK shares have opened mostly lower Monday, following a disappointing GDP report from China.

Shell has grabbed attention at the start of a second straight trading day, revealing that it will sell its interest in the Wheatstone-Lago joint vent

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20 Jan 2014 07:58

Max Petroleum plugs and abandons Sagiz West appraisal well

Kazakhstan-focused oil and gas group Max Petroleum has revealed that one of its wells will be plugged and abandoned. The AIM-listed firm said on Monday that it has completed drilling the SAGW-11 appraisal well in the Sagiz West Field to a vertical depth of 1,429 metres. However, drilling finished

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30 Dec 2013 17:16

MARKET COMMENT: UK Stocks Close Mixed As FTSE 100 Ends Winning Streak

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30 Dec 2013 12:53

Max Petroleum cuts full-year forecast; shares tumble

Dec 30 (Reuters) - Max Petroleum Plc cut its production forecast for the full year as delays in permits to start test production in several wells in Kazakhstan add to pressure from unsuccessful well drills. Shares in Max Petroleum slid as much as 14.5 percent, making it the second-biggest p

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30 Dec 2013 12:46

UK WINNERS & LOSERS: LED International Soars; Max Petroleum Slips

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30 Dec 2013 10:55

MARKET COMMENT: UK Stocks Trade Mixed As Investors Lack Direction

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30 Dec 2013 09:08

Max Petroleum Records Successful Drilling In Sagiz West Field

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30 Dec 2013 09:01

Max Petroleum Interim Loss Widens; Downgrades Full-Year Production Target

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19 Nov 2013 12:51

Max Petroleum Achieves Mixed Results From Final Two Wells On Uytas Appraisal Programme

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6 Nov 2013 14:13

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 appraisal wells at its Uytas field. The appraisal well at the former location was drilled to a depth of 1,440 metres. Reservoir quality was described as ve

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6 Nov 2013 12:45

Max Petroleum Receives Positive Results From Three Drill Tests

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16 Oct 2013 09:57

Max Petroleum To Abandon Two Test Wells After Bad Results

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16 Oct 2013 07:35

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 Kazakhstan after failing to encounter sufficient hydrocarbons. The group has completed drilling the SAGW-14 appraisal well to a vertical depth of 1,423 m

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8 Oct 2013 09:56

Max Petroleum Receives Test Results And Begins Drilling New Appraisal Wells

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