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, production and cashflow through developing its discoveries and through exploration. The combination of the size of the Group’s acreage position - 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 to generate portfolio of both shallow, post-salt and deeper, pre-salt prospects and leads.
Since September 2006, Max Petroleum has drilled 66 wells in its Blocks A&E Licence area including 24 exploration wells generating eight commercial discoveries at the Zhana Makat, Borkyldakty, Uytas, Asanketken, East Kyzylzhar I, Sagiz West, Baichonas West and Eskene North fields.
Following the Refinancing announced in November 2012, the Group is in a strong position to build shareholder value through increased production, revenue, reserves from its post-salt assets and the optionality to evaluate the Emba B and Emba A deep, pre-salt prospects.
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. The Group has a highly motivated and experienced staff of approximately 140 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 approximately 130 locally based staff including five 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 1 May 2013
- Listed on AIM on 27th October 2005
- Ticker: MXP
- Total shares outstanding: 1,817,734,349
- YTD Average daily trading volume of 3.4 million shares per day
- 52 Week High/Low: 11.8p / 2.6p