RE: RE: RE: Good discussion(net backs) Max release this but it doesn't really tell us . Oilandgas, perhaps you could let us know ehre you got your info - thanks
16 March 2012
Max Petroleum Plc, an oil and gas exploration and production company focused on Kazakhstan, announces that the Kazakh Government has granted regulatory approval to convert the Zhana Makat Field to full field development ("FFD") status effective immediately. FFD approval will allow Max Petroleum to develop and produce the Zhana Makat Field for up to a further 25 years, as well as grant the Company a right to sell 80% of crude oil production from Zhana Makat on the export market under the terms of its Blocks A&E exploration and production contract. Current export oil sales are generating after-tax net proceeds that are approximately US$22-US$25 per barrel higher than comparable domestic sales. Zhana Makat is currently producing approximately 2,100 barrels of oil per day.