MAX PETROLEUM 2007 A giant in the making

Zaitoon I read the rns as "business as usual" and as expected. There was no great new news and on the other hand there was no bad news either. All is progressing as outlined by Tone on many occations.

I was a little surprised that production is still only 900 Bdpd. It must meant that the higher capasity pumps has not gone in yet. What is not said in the rns is that all operators in Kazakhstan are under pressure to sell to local market where prices are half of world market. It is very hard to get export permits. I suspect that MXP has made a decision not to push the wells for higher production until they can start to sell to export. Not a bad management decision as long as the company can afford to wait for the higher price which is clearly the case here.

I think MXP is holding back some of the good news on other issues until they have some more substantial and tangible news. We know they are still adding good people to the team for various business areas including new business. An understandable cautious news policy where they can live up to expectations. I suspect they are trying to manage the share price development to a long steady increase rather the lots of ups and downs.