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Too good to last much longer
The markets have run up too fast too soon to sustain without a healthy correction. In the near term, global markets cues, FII activities and rupee movement remain the key, writes Ambareesh Baliga. Full Article
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UPDATE 1-Max Petroleum gets offers for Kazakhstan licenses
(Adds detail from statement, share price)
Sept 24 (Reuters) - Max Petroleum Plc (MXP.L) on Wednesday said it has received "multiple" offers for two of its Kazakhstan licences, sending its shares up over 11 percent.
The oil and gas company focused on Kazakhstan said it is evaluating the offers and expects to reach a commercial deal on one or both licences.
In June, the group had launched a formal farmout process to seek partners to share the risk and funding of its three-year exploration programme.
Up to 25 percent of its Blocks A&E licence and up to 50 percent of its Astrakhanskiy licence were being made available for third-party participation, Max had said in July.
The company has previously said it plans to drill at Astrakhanskiy in December and at Blocks A&E in January 2009.
At 0846 GMT, shares of Max Petroleum were 3.25 pence up at 31.75 pence on the London Stock Exchange. (Reporting by Jose Kottanani in Bangalore; Editing by Rosalba O'Brien)
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