Company Update

10 June 2014

MAPLE ENERGY PLC

("Maple" or the "Company")

COMPANY UPDATE

Maple Energy plc (AIM: MPLE; LIMA: MPLE), an integrated energy company with assets in Peru, today announces updates regarding its ethanol business and operations for the period from January 1st to March 31st, 2014

· An aggregate amount of approximately 158,926 gross tonnes of sugar cane (approximately 141,142 net tonnes) have been harvested and processed as of March, 2014. This net amount of processed sugar cane excludes sugar cane "trash", which primarily consists of green and dry leaves of the sugar cane that are ultimately used as fuel to generate electricity. The average total recoverable sugars ("TRS") from the sugar cane processed was approximately 12.4%.

· An aggregate amount of approximately 10,973 cubic metres (approximately 2.9 million gallons) of fuel-grade ethanol have been produced at the Ethanol Plant as of March 31, 2014. The average ethanol yield during this period was approximately 20.5 gallons (approximately 75.8 litres) per net tonne of sugar cane processed.

· An aggregate amount of approximately 13,162 megawatt-hours ("MWh") have been generated at the Ethanol Plant as of March 31, 2014, and the energy required for the agricultural and industrial operations has been approximately 16,218 MWh during this period.

· Under the Company's existing sales and distribution agreement with Mitsui & Co., Ltd ("Mitsui"), Maple has sold an aggregate volume of approximately 11,399 cubic metres (approximately 3.0 million gallons) of fuel-grade ethanol to Mitsui as of March 31, 2014. In addition to the sales to Mitsui, Maple sold a total of approximately 408 cubic metres (approximately 0.11 million gallons) of ethanol to domestic and regional markets during the same period.

· As of March 31, 2014, the average ethanol sales price received by Maple FOB Paita has been US$ 2.09 per gallon (net of shipping cost and Mitsui fee).

· As of March 31, 2014, Maple's total cash costs for the production of ethanol were, approximately US$8.0 million, which consists of: (i) direct production costs (US$6.1 million), (ii) general and administrative costs (US$1.5 million), and (iii) sales, marketing and other costs (US$0.4 million).

· The ethanol plant was shut down from 21 February 2014 until the second half of April to enable planned maintenance to be performed. The shut down was scheduled for this period as the sugar cane had not reached the minimum age from which it could be suitable for harvesting.

· The Company successfully obtained the government approvals critical for the planned expansion of approximately 2,000 hectares of its own sugar cane plantation.

Hydrocarbon Production, Refining and Marketing

· A total of approximately 130,848 barrels of oil ("barrels") were sold as of March 31, 2014.

· Average sales price was approximately US$130.35 per barrel during the same period.

· Average daily crude oil production was approximately 422 barrels per day as of March 31, 2014.

· As of March 31, 2014, Maple's hydrocarbon business total production cash costs were approximately US$14.8million including direct production costs (US$11.7million), General and Administrative (US$2.3 million), Selling and others (US$0.8 million).

Group matters

As previously reported, the Company has been actively seeking equity investment from strategic investor(s) for its ethanol business. The Company has been progressing in this initiative and is seeking to close a transaction in the coming months. Nonetheless there can be no guarantees that a transaction with a strategic or financial investor can be reached on terms acceptable to the Company, or at all. The ability of the Company to execute a transaction on a timely basis is critical for the working capital position of its ethanol business. The Company will continue to provide the market with information regarding this key financing initiative as well as other financing alternatives that is pursuing.

In the meantime the Company is working closely with the Senior Lenders of Maple's ethanol business in order to secure sufficient working capital until new funding is available to develop the business.

For further information, please contact:

Maple Energy plc (+ 51 1 611 4000)

Guillermo Ferreyros Cannock, Chief Executive Officer, and Executive Director

Cenkos Securities plc (+ 44 131 220 6939)

Derrick Lee

Alan Stewart