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MXP.L Share News (MXP)

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Max Petroleum abandons KZIE-3 appraisal well

Tue, 27th May 2014 10:37

Max Petroleum's shares tumbled after saying it has completed drilling the KZIE-3 appraisal well without encountering sufficient hydrocarbons to be commercial.The oil company has plugged and abandoned the well, located in the East Kyzlzhar I field in Kazakhstan. The Zhanros ZJ-30 rig will move to the Zhana Makat Field to drill the ZMA-E7 development well.Shares fell 7.95% to 1.10p at 10:40 on Tuesday.RD

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