Max Petroleum PLC: Issuance of Director, Officer and Employee Share Options
Max Petroleum, an oil and gas company focused on Kazakhstan, today announces that additional options to subscribe for 89 million new ordinary shares of the Company (“Ordinary Shares”) were granted to the Directors, officers and certain employees of the Company on 27 May 2014 at an exercise price of 1.2p …
Max Petroleum Plc: Drilling Update
Max Petroleum Plc, an oil and gas company focused on Kazakhstan, today announces that it has completed drilling the KZIE-3 appraisal well in the East Kyzylzhar I Field to a vertical depth of 1,315 metres without encountering sufficient hydrocarbons to be commercial and it will be plugged and abandoned. The Zhanros …
Max Petroleum Plc: Cost Cutting Initiative and Related Accounting Charge
Max Petroleum Plc, an oil and gas company focused on Kazakhstan, announces an update of its previously announced cost cutting initiative and related accounting charge. The Company expects that specific measures completed and expected to be completed shortly will result in annualized ongoing cost reductions of approximately US$4 million, a …
Max Petroleum: Successful Drilling Results as East Kyzylzhar
Max Petroleum Plc, an oil and gas company focused on Kazakhstan is pleased to announce further successful drilling results in the East Kyzylzhar I Field. The KZIE-4 appraisal well has reached a vertical depth of 1,318 metres with electric logs indicating 15 metres of net oil pay in two Jurassic …
Max Petroleum: Final Sagiz West Well Strikes 24m of Pay
Max Petroleum Plc, an oil and gas company focused on Kazakhstan, is pleased to announce successful drilling results of the final well in the current appraisal drilling programme in the Sagiz West Field. The SAGW-7 appraisal well has reached a depth of 1,438 metres with electric logs indicating 24 metres …
Max Petroleum: Kenneth Hopkins Appointed Chief Operating Officer
Max Petroleum Plc, an oil and gas company focused on Kazakhstan, announces further details of previously announced cost cutting initiatives along with related management changes. Appointment of New Chief Operating Officer The Company is pleased to announce the appointment of Kenneth Hopkins as the Company’s Chief Operating Officer. Mr. Hopkins …
Max Petroleum: SAGW-13 Hits 6m of Net Pay
Max Petroleum Plc, an oil and gas company focused on Kazakhstan, is pleased to announce successful drilling results of an appraisal well in the Sagiz West Field. The SAGW-13 appraisal well in the Sagiz West Field has reached a depth of 1,577 metres, with electric logs indicating six metres of …
Max Petroleum: Successful Appraisal Well at Sagiz West
Max Petroleum Plc, an oil and gas company focused on Kazakhstan, is pleased to announce successful drilling results of an appraisal well in Sagiz West Field. The SAGW-10 appraisal well has reached a depth of 1,400 metres with electric logs indicating 16 metres of net oil pay over a 24 …
Max Petroleum: Total 2P Reserves up 40%
Max Petroleum Plc, an oil and gas company focused on Kazakhstan, announces the estimated reserves for the Sagiz West Field as of 31 December 2013 by its Competent Person, Ryder Scott Company LLC, updating the Sagiz West reserve estimate produced by RSC as of 30 September 2013. The updated CPR …
Max Petroleum: Starts Cost Cutting Initiative as They Shift from Exploration to Production
Max Petroleum Plc, an oil and gas company focused on Kazakhstan, announces that it has begun implementation of a significant cost cutting initiative that it expects to continue for the remainder of FY 2014 and beyond. The initiative recognises the Company’s shift from exploration and development to primarily production with …