The Kazakh-focused outfit has been seeking to renegotiate terms with lender Sberbank, but admitted the talks with the Russian bank “have so far not been successful”.
Shares in the minnow traded down by 75% at under £0.01 on London’s Alternative Investments Market following the news.
Max Petroleum said that the recent global oil price plunge "has had a very severe adverse impact on the company’s current and forecast liquidity position in 2015 and beyond".
“Max
