Max Petroleum is an independent oil & gas exploration and production company operating in the Pre-Caspian Basin in Western Kazakhstan, an area that has produced some of the world’s largest oil & gas discoveries. As at 31 March 2009, the Group owned a 100% interest in the Blocks A&E and Astrakhanskiy oil and gas licence areas covering 13,500 km².
Max Petroleum’s strategy is to apply new, exploratory 3D seismic technology to the proven, highly prolific Pre-Caspian Basin to develop a high quality portfolio of drillable pre-salt and post-salt exploration prospects. Hydrocarbon production in the Basin began in 1911. Productive reservoirs are found in the shallow, “post-salt” section and deeper, “pre-salt” strata. More than 100 shallow post-salt fields were discovered during the Soviet era, with a mean field size of 34 million barrels of recoverable oil. Max Petroleum’s first discovery, the Zhana Makat Field, on its Blocks A&E licence, produces from the post-salt section.
The Basin’s deeper pre-salt discoveries include some of the largest oil and gas fields found in the last 35 years. These super-giant discoveries include the Tengiz, Kashagan, Karachaganak and Astrakhan fields, which range in size from 7 to 20 billion barrels of oil equivalent recoverable reserves. Max Petroleum’s Block E is located less than 60km north of the Tengiz Field and the Astrakhanskiy Block sits immediately adjacent to the Imashevskoye Field, which is the extension of the Russian Astrakhan Field into Kazakhstan.
Max Petroleum’s two large licences contain numerous prospects for both the deeper, pre-salt and shallow, post-salt play types. The Group is applying cutting edge technology as well as extensive analysis of historical exploration activity on a regional scale to help understand and unlock the potential of its exploration acreage. The regional analysis has allowed Max Petroleum to put the existing fields and prospects on its blocks into context, allowing better insight and understanding into exactly what critical elements drive the formation of oil fields in the Pre-Caspian Basin. In addition, careful study of previous wells drilled using older methods of exploration, such as surface seeps, surface geology, gravimetric analysis and 2D seismic, has helped the Group understand where best to explore using its new 3D seismic data. In the pre-salt play on Blocks A&E, only one well has been drilled to date, without the advantage of 3D seismic, leaving this world-class potential resource play virtually untested.
Max Petroleum’s Head Office is in London, UK with other offices in Almaty, Kazakhstan and Houston, Texas. The Group has an experienced team with a proven track record operating all phases of exploration, development, production and marketing in Kazakhstan.
London Listing Statistics as at 19 February 2010
- Listed on AIM on 27th October 2005
- Ticker: MXP
- Total shares outstanding: 432,751,497
- YTD Average daily trading volume of 3.5 million shares per day
- 52 Week High/Low: 30p/4p
