Max Petroleum: Share Trading Suspended
Max Petroleum‘s circular to Shareholders dated 13 August 2015 noted that, as a result of the uncertainty surrounding the Company’s financial position, its ordinary shares have been suspended from trading on AIM since 2 March 2015. Max Petroleum and AGR Energy continue to work to satisfy all relevant conditions for …
Max Petroleum: Receives Ministry of Energy Approval for AGR Energy Subscription
Max Petroleum Plc, an oil and gas exploration and production company focused on Kazakhstan, is pleased to announce that approval from the Ministry of Energy of the Republic of Kazakhstan for the Subscription has been obtained. The final remaining Kazakh Governmental Approval for the Subscription is the consent of the …
Max Petroleum: AGM Approves AGR Energy $13.8m Subscription
Max Petroleum announces that all resolutions proposed at its General Meeting held earlier today relating to the proposed US$13.8 million Subscription by AGR Energy were duly passed. The Subscription remains conditional upon, inter alia, the following Conditions being satisfied on or before 1 October 2015 (or as extended by the …
Max Petroleum: Samek Int Receives Creditor Protection “Rehabilitation Process” and AGR Energy Subscription is Approved
Max Petroleum Plc, an oil and gas exploration and production company focused on Kazakhstan, announces the following corporate updates: Acceptance of rehabilitation application for Samek International LLP Further to its announcement of 27 July 2015 regarding the initiation of a rehabilitation process under Kazakh law to provide its wholly owned …
Max Petroleum: Samek Int Receives Creditor Protection "Rehabilitation Process" and AGR Energy Subscription is Approved
Max Petroleum Plc, an oil and gas exploration and production company focused on Kazakhstan, announces the following corporate updates: Acceptance of rehabilitation application for Samek International LLP Further to its announcement of 27 July 2015 regarding the initiation of a rehabilitation process under Kazakh law to provide its wholly owned …
Max Petroleum: AGR Energy Invests $13.8m Plus Further Loan Capital
Max Petroleum announces a conditional cash subscription by AGR Energy to raise US$13.8 million (£8.98 million) before expenses for 3,834,590,973 new Ordinary Shares at a price of 0.2341 pence per share such that AGR Energy will hold 63.8% of the Enlarged Issued Share Capital immediately following completion of the Subscription. …
Max Petroleum: Sberbank Supplies Debt Relief – 6 Month Holiday on Principle and Interest Payments
Max Petroleum announces that Sberbank has unconditionally granted a six month standstill on all principal and interest payments due under the Company’s c.US$80 million loan through to 14 December 2015. In addition, the Company has accrued US$3.8 million of interest as of 30 June 2015. Interest will continue to accrue …
Max Petroleum: Suspends Stock Listing Pending Debt Restructuring
Max Petroleum announces that, following its announcements of 9 February 2015 and 19 February 2015, it has requested that trading in its ordinary shares on the AIM market of London Stock Exchange plc be suspended pending the outcome of final negotiations with Sberbank regarding an appropriate debt restructuring and with …
Max Petroleum: Limited Window to Achieve Refinancing but Share Price Up
The Board notes the recent price movement in the Company’s ordinary shares and confirms that there are currently no updates to the Company’s announcement of 9 February 2015. Max Petroleum continues negotiations with Sberbank regarding an appropriate debt restructuring and with AGR Energy regarding an equity investment that, together with …
Max Petroleum: Reserves Up 4%
Max Petroleum Plc, an oil and gas exploration and production company focused on Kazakhstan, announces Group reserves as at 30 September 2014 as estimated by its Competent Person, Ryder Scott Company LLC (“RSC”). The reserves reflect drilling results, forward oil pricing and other technical information as at that date, including …