News

November 18, 2009

Max Petroleum Moves Ahead With New Development Wells On Its Zhana Makat Field In Kazakhstan

Max Petroleum is a full cycle E & P company which holds three blocks covering 13,500 sq km of the pre Caspian Basin in Kazakhstan, where it has existing production, a slate of low risk exploration prospects and some deep sub-salt prospects with world class potential.

After quite a long period being pretty low key while it arranged a complex refinancing over the summer, Max it is now moving forward again.  Its producing field is Zhana Makat. This came into production in 2007 and produces 2000 bopd, generating in excess of US$3 million in revenues every month.

Michael Young, President and CEO of Max told an oilbarrel.com conference last month that the company planned to drill two shallow development wells on the field this year, which will be...