2010-05-07 18:22 ET - News Release
Mr. Arthur Brown reports
MAXIM ANNOUNCES CHANGE IN PARTICIPATING INTEREST IN THE HIGH ISLAND BLOCK
Effective as of Dec. 1, 2009, Maxim Resources Inc.'s interest in and to the 115 B-1 well and the High Island block oil and gas leases in the western Gulf of Mexico has been changed to an 8-per-cent working interest and a 4-per-cent net revenue interest. The company agreed to reduce its working interest in settlement of the company's failure to make certain payments required by the applicable operating agreement. Prior to this change, the company had a 20-per-cent working interest and a 10-per-cent net revenue interest. In addition, as the company owes approximately $770,000 (U.S.) in fees in connection with its interest in the High Island block, the proceeds payable to the company for its net revenue interest will be reduced in order to repay such amount owing.
We seek Safe Harbor.
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Maxim Resources Inc.
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CODE : MXM.V |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Maxim Res. is a and oil exploration company based in Canada. Maxim Res. develops natural gas in Australia. Its main asset in production is SELLHEIM GOLD in Australia and its main asset in development is SOUTH ERIN BLOCK in Australia. Maxim Res. is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 292 050 as of today (US$ 218 813, € 209 404). Its stock quote reached its highest recent level on December 30, 2005 at CA$ 1.10, and its lowest recent point on December 16, 2016 at CA$ 0.01. Maxim Res. has 58 410 000 shares outstanding. |