MAX Petroleum. How big is it?

1500 metre athletics final at the 1908 Summer ...

Max under starters orders!

The UTS-1 exploration well could very well be under starters orders,  with 16 metres of net oil pay already in the bag at 60/76 metres of the drill the potential here for a big increase in net oil play to well in excess of 80 metres seems to me to be very likely. The good news here for MAX holders is that this oil find isn’t the primary target! Certainly under-valued at the moment but not for long once Max confirm reaching TD then they will almost certainly confirm higher oil columns in the cretaceous.

Max are drilling  “approximately 900 metres to evaluate its principal exploration target sands in the Jurassic and Triassic sections. The Company will test the shallow Cretaceous zone after evaluating the deeper horizons.”

If you look at how quickly they hit the oil (5 days) after the 15th October it would suggest that there is a huge potentially company transforming discovery about to be quantified. If they find more oil in their primary targets then you could be looking at over 200 metres of oil (columns) so goes the thought here.

Very good punt. With a target sp of 50p minimum on a Cretaceous   86mtr discovery over the coming months.  Possibly rising to well in excess of 80/90p all depends on what they find in the Jurassic/Triassic zones.

Robert Holland, Executive Co-Chairman, commented:

“The initial results of Uytas are very encouraging and could prove to be significant given the apparent size of the oil column. While we need to finish drilling the well to evaluate it fully, we are excited to have a potential commercial discovery before reaching our principal objectives.”

Hola!

Daniel

You may also like...

No Responses

  1. musy says:

    Hi Dan,
    You have been very accurate on your GKP, EO and recently about XEL and unfortunately I missed all of them. This time I dont want to miss this boat so I am fully loaded on this one.

    I have done my research on this one so quite happy with my decision.
    Thanks for you good work.
    Keep it on.

  2. Conal says:

    Dan,

    Just wondering what in the world is going on with Desire this morning and have you heard anything.

    Didnt think the news they released for the new 3d seismic programme was enough for a double in price with a slight retrace.

  3. miopus says:

    Not invested in DES, but what is your take on the surge in SP this morning. What is REALLY going on ?

  4. investorguy says:

    Hey Dan there’re at it again on III what a joke they are.
    Riddled with jealousy is that HUB the numba one tosspot.
    Talks pure cack HUB you nob we all know you sneak onto dans blog. lmao @ that joke of a poster.

    investorguy

  5. Conal says:

    Folks just to let you know Dan’s responded through a twitter as can be seen in the top right hand corner regarding Desire for those interested.

  6. miopus says:

    Thanks Dan for taking the time out to comment on DES. I see someone on DES lse.co.uk board has labelled you a fraud though in an uncalled for and unpleasant post..

  7. miopus says:

    Repost from iii if anyone is worried about DES.

    “Ok, so I rang earlier when we were at/through the 90% + mark and requested information. I have just been called back and given the following information

    1. Desire can confirm that they have no information currently regarding bids or oil finding
    2. Desire can confirm that they are aware that rumours of takeovers and oil being hit, they do not know where these rumours have come from and do not confirm them
    3. Desire will NOT be releasing a statement regarding the SP change, apparently LSE is understanding of price movements in excess of 50%+in desire.

    • Brokerman says:

      Do not believe a word of that.
      When a stock rises dramatically the London Stock exchange files a report immediately to the company concerned asking them if they are aware of any material reason for the rise. To which the company have to respond.

      Daniel

  8. miopus says:

    Similar post from iii :

    “To re-iterate my call to Buchanan’s.

    “I confirm that there will not be an RNS regarding the share price movement and the LSE is happy with this due to the particular volatility of this stock in recent months.””

    Drilling operations are ongoing – (operations rather than actual drilling was my impression) –
    and this price volatility is on rumour (That’s the company line) –
    and there will be no SHARE PRICE RNS”

    * * * *