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Max soars on Kazakhstan talks


Published Sep 24, 2008
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Max in Russia

The share price of London’s Kazakhstan focused Max Petroleum shot up over 10.5 percent in early trading Wednesday, after the company announced it had received offers for some of its holdings in the land of steppe and hills.

The company said “multiple offers” have come in for its Blocks A&E license and half its Astrakhanskiy license in western Kazakhstan, home of some of the world’s biggest oilfields.

Max leadership said it expects to reach a commercial deal on one or both licenses.

On the table appears to be 560 million barrels of oil equivalent, although double the reserves are said to be potentially recoverable. Blocks A & E are cover 12, 500 square kilometres in the prolific Emba sub-basin boasts three large anticline structures: Imashevsky South, Imashevsky Southwest and Imashevsky East.

Tags: Max Petroleum Plc



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