|
Max Petroleum is an independent oil and gas exploration and production company focused on Kazakhstan. The Company is a public limited company incorporated in the United Kingdom and listed on AIM.
The Company holds a 100% interest in the Blocks A&E Licence area covering over 12,455 km2 in the highly prolific Pre-Caspian Basin in Western Kazakhstan. The Pre-Caspian Basin has produced some of the world’s largest oil and gas discoveries, including the super-giant Tengiz, Kashagan, Karachaganak and Astrakhan fields, which range in size from seven to 20 billion barrels of oil equivalent in recoverable reserves.
Max Petroleum’s strategy is to grow reserves significantly through exploration. The combination of the size of the Group’s acreage position - some 12,455 km2 in one of the most prolific petroleum basins in the world, as well as the existing transportation and production infrastructure makes Blocks A&E an exciting place to apply this exploration strategy.
Max Petroleum has acquired and interpreted approximately 5,000 km2 of exploratory 3D seismic data over Blocks A&E generating an exciting portfolio of both shallow, post-salt and deeper, pre-salt prospects and leads.
Since November 2009, Max Petroleum has drilled a total of 32 wells including 14 exploration wells generating five commercial discoveries at the Borkyldakty, Uytas, Asanketken, East Kyzylzhar I and Sagiz West fields. While Max Petroleum is principally focused on exploration activities, it is also significantly increasing production as these five new fields are brought online adding to the output from the Zhana Makat Field which has been in production since 2007.
To execute its growth strategy successfully, the Group must combine its assets and extensive inventory of 3D seismic data with the appropriate team of people capable of unlocking their value. Over the last few years, the Group has assembled a highly motivated and experienced staff of approximately 160 employees with expertise across all the relevant disciplines necessary to run an exploration and production company, including geology/geophysics, drilling, production, facilities, marketing, legal/regulatory, and finance/accounting. Over 90% of the Group’s employees are based in Kazakhstan, consisting of approximately150 locally based staff including seven expatriates, providing the Group with the capability to operate as effectively and efficiently as possible in the Republic of Kazakhstan. The Group has offices in Almaty, Atyrau, Astana, London and Houston.
London Listing Statistics as at 24 August 2012
Listed on AIM on 27th October 2005
Ticker: MXP
Total shares outstanding: 1,018,488,858
YTD Average daily trading volume of 8 million shares per day
52 Week High/Low: 15p / 3p
|
