Appraisal well results at Uytas

Max Petroleum Plc

(the "Company")

Appraisal well results at Uytas

19 November 2013

Max Petroleum Plc, an oil and gas exploration and production company focused on Kazakhstan, is pleased to announce drilling results at two wells in the Uytas field.

The UTS-19 appraisal well was drilled to a total depth of 208 metres. Oil shows were encountered in the Cretaceous Aptian reservoir, but electric logs did not indicate any pay in the well. Hydrocarbon shows were not encountered in the shallow Albian section. UTS-19 was drilled in the western portion of the field and found the Cretaceous reservoirs structurally lower than expected, limiting the extent of the field in that area. Casing has been set in the well and the Company plans to use it in the future for water injection.

The UTS-20 appraisal well successfully reached a total depth of 210 metres, with electric logs indicating 11 metres of net oil pay in Cretaceous reservoirs over a 23 metre interval ranging in depths from 121 to 144 metres. Reservoir quality is excellent. Minor hydrocarbon shows were also seen in the shallow Albian section. Based on the results of UTS-19, the UTS-20 well was moved from its original location west of UTS-19 to a location on the southeastern edge of the field, where it has extended the productive area of the field further to the southeast than originally mapped. The Company plans to complete the well and place it on test production as soon as practicable.

UTS-20 was the final well in the Company's 2013, 14-well appraisal programme in the Uytas Field. The Company will incorporate the technical data gained from the drilling programme into its geological model in order to reassess the size of the field and prepare a development plan to progress the field onto trial production. The truck mounted mobile drilling rig from Zhanros has been released.