Max Petroleum begins drilling on Tolegen West well
Max Petroleum advanced Friday on news the oil and gas company started drilling the TOLW-1 well on the Tolegen West prospect in Kazakhstan.
Max Petroleum advanced Friday on news the oil and gas company started drilling the TOLW-1 well on the Tolegen West prospect in Kazakhstan.
Shares rose 2.63% to 3.90p at 11:20 Friday as the business announced it kicked off production on Block E using Zhanros Drilling's ZJ-20 rig.
A total vertical depth of 1,600 metres will be drilled at the prospect, which is a four-way anticline targeting unrisked mean resources of 8m barrels of oil in Triassic reservoirs.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Max Petroleum has in recent months posted positive results from its projects.
Last month it reported strong production from the ESKN-1 exploration well in the Eskene North prospect.
Initial results of the electric logs of the well, which reached a depth of 1,507 metres, indicated 20 metres of net pay over an 90-metre gross interval.
Testing on the well was due to begin sometime early this year.
RD
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
‘Inheritance tax insurance’ enquiries are soaring – but is it worth it?
Premiums for whole of life insurance can run to £5,000 a month to cover a £300,000 inheritance tax bill, with policies costing more the older you take them out.
-
MPs warn over Lifetime ISAs which could leave savers out of pocket
The Treasury Committee has highlighted confusion around the Lifetime ISA withdrawal charge, which risks consumers losing “a significant part of their savings”