Max Petroleum has issued an update regarding its ongoing program to farm-out up to 25% of its Blocks A&E license and up to 50% of its Astrakhanskiy license in western Kazakhstan.
The Company has received multiple offers on both licenses from parties that the Directors believe are capable, which may or may not lead to one or more commercial transactions. The Company is currently evaluating the various offers and expects to reach a commercial deal on one or both licenses.
Given the confidential nature of ongoing discussions, the Company cannot say more at this time but will update its shareholders when additional material information is available.
CEO Mark Johnson commented, "I am pleased with the positive response our farm-out offering has received. Our management team is working diligently to conclude transactions for both licenses that will benefit Max Petroleum and its shareholders."
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