After its shares rocketed from their very low base on Thursday, Max Petroleum said it was confident of successfully refinancing the company's debts.
Max Petroleum said it is desperately trying and renegotiate its debts and conclude refinancing talks with is bank and a possible equity investor as the oil price collapse has rendered its operations "unviable".
Max Petroleum has announced the sale of a 51% stake in the company to AGR Energy, raising approximately £37.1m in the process.
Max Petroleum shares spurted higher on Tuesday after the Kazakhstan-focused company said it would save $4 a barrel following the commissioning of a new oil pipeline that will connect its Zhana Makat field with the regional oil export pipeline.
Shares in oil and gas company Max Petroleum pulled back sharply on Thursday after an strong leap earlier in the week despite the company reporting a solid update on its reserves levels at the March year-end.
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.
Max Petroleum's shares tumbled after saying it has completed drilling the KZIE-3 appraisal well without encountering sufficient hydrocarbons to be commercial.
The boss of Kazakhstan-focused oil & gas explorer Max Petroleum is leaving as part of a 4m US dollars cost-cutting drive.
Explorer Max Petroleum has struck oil in a well in its Sagiz West field in Kazakhstan.
Oil & gas explorer Max Petroleum has struck oil in a well in Kazakhstan.
Kazakhstan-focused oil and gas group Max Petroleum shares slumped more than 17 per cent on Friday morning after it reported that negotiations with prospective partners over potential financing had terminated.
Kazakhstan-focused oil and gas group Max Petroleum has revealed that one of its wells will be plugged and abandoned.
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.
- SAGW-14 and UTS-9 wells abandoned
Max Petroleum on Wednesday announced "excellent" reservoir quality from its Uytas oil field in Kazakhstan, in line with expectations.
Kazakh oil producer Max Petroleum has located acceptable oil levels at an appraisal well in one of its key oil fields.
Max Petroleum has started drilling its BCHW-3 appraisal well in the Baichonas West Field in Kazakhstan.