Max Petroleum suffers drilling issues
Max Petroleum, an oil and gas exploration and production company focused on Kazakhstan, has reported that the drilling tools became stuck at the NUR-1 pre-salt well at the Emba B prospect on Block E.
Max Petroleum, an oil and gas exploration and production company focused on Kazakhstan, has reported that the drilling tools became stuck at the NUR-1 pre-salt well at the Emba B prospect on Block E.
Operations are currently underway to retrieve them, the firm said.
Following this, the company will set intermediate casing and drill ahead as planned. Total depth of 7,250 metres is currently expected to be reached in early June 2012.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
![https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg](https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748-320-80.jpg)
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
The share price fell 4.26% to 11.25p.
NR
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
-
Regulator moves to protect access to cash amid branch closures and disappearing ATMs
News The Financial Conduct Authority has told banks to start assessing if local communities have adequate cash access from mid-September
By Marc Shoffman Published
-
VAT hike on private school fees could come earlier than previously expected
The government could start charging VAT on private school fees as soon as January 2025, according to the latest reports. What does it mean for parents?
By Katie Williams Published