don't upset ministry oil and gas in kazakhstan, page-5

Dis,

No idea of their default details but they were up-beat about the prospect in a July 1 presentation at:

http://www.maxpetroleum.com/uploads/100701mxp-thegrowthsummitpresentation-final.pdf

Some highlights from the preso:

Drilled 22 of 32 successful wells to date with two post-salt discoveries
Current production approximately 2,200 BOPD generating $3.5-$4.0 million in revenue per month

So that indicates each well producing 100 BOPD and the price received per barrel averaging between US$53 and US$61.

They have a large debt to service and were reliant on getting a farm in partner for the Astrakhanskiy Licence.

Their mc is about AU$100M and I think they had too much activity for their existing funds which, if I was Director ofthe MOG, Kazakhstan, I reckon I'd find some excuse to toss them out and get someone else to take over. JPR looks a lot better to me atm.