Funding dries up at Max Petroleum

Shares in Max Petroleum, an oil and gas exploration and production company focused on Kazakhstan, plunged after the firm admitted it needs extra capital in order to complete the NUR-1 well at the Emba B Prospect in Block E.

Shares in Max Petroleum, an oil and gas exploration and production company focused on Kazakhstan, plunged after the firm admitted it needs extra capital in order to complete the NUR-1 well at the Emba B Prospect in Block E.

As a result of the funding shortage the company is releasing the Saipem National 1625 DE onshore deep drilling rig which has been operating on the well.

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