Kazakhstan focused oil company, Max Petroleum, is being squeezed both operationally and financially, an update revealed today.
The firm is struggling to complete drilling at its NUR-1 well; the problem appears to be "anomalously high pressure" which has left the drill pipe stuck at 5,772 metres, but that is far from Max Petroleum's only problem, as its exploration licence runs out in March 2013 and the technical difficulties clearly put that timeframe in danger.
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
-
Annual house price growth halves to 3.5% – ONSAverage UK house prices rose by just 3.5% in the 12 months to April, as stamp duty changes deterred buyers. What’s the outlook for the rest of 2025?
-
Nationwide pays £100 to millions of people – have you received the payment?Nationwide has started paying its £100 Fairer Share bonus and expects to complete payments by 4 July. We look at who will get it and when.
