Company Update

 4 December 2013

MAPLE ENERGY PLC

("Maple" or the "Company")

COMPANY UPDATE

Maple Energy plc (AIM: MPLE; LIMA: MPLE), an integrated energy company with assets in Peru, announces today various updates regarding its ethanol business and operations for the period January 1st through October 31st, 2013.

Ethanol Business

· An aggregate amount of approximately 811,000 gross tonnes of sugar cane (approximately 719,000 net tonnes) have been harvested and processed as of October 31, 2013. 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.

· An aggregate amount of approximately 54,300 cubic metres (approximately 14.3 million gallons) of fuel-grade ethanol have been produced at the Ethanol Plant as of October 31, 2013. The average ethanol yield during the ten-month period ended 31 October 2013 was approximately 20.0 gallons (approximately 75.70 litres) per net tonne of sugar cane processed. Maple currently expects yields in the range of approximately 20 to 21 gallons of fuel-grade ethanol on average from each net tonne of sugar cane processed at the Ethanol Plant in 2013.

· An aggregate amount of approximately 81,075 megawatt-hours ("MWh") have been generated at the Ethanol Plant as of October 31, 2013, and the energy required for the agricultural and industrial operations has been approximately 81,100 MWh during this period.

· Under the Company's existing sales and distribution agreement with a subsidiary of Mitsui & Co. Ltd ("Mitsui"), Maple has sold an aggregate volume of approximately 51,800 cubic metres (approximately 13.7 million gallons) of fuel-grade ethanol to Mitsui as of October 31, 2013 for delivery to customers in the European Union. This accounted for approximately 95% of Maple's ethanol sales by volume during this period, and Maple expects to continue exporting a substantial portion of its ethanol production for delivery to customers in the European Union. In addition to the Mitsui sales, Maple sold a total of approximately 2,500 cubic metres (approximately 0.66 million gallons) of ethanol to domestic and regional markets during the same period.

· The Ethanol Plant had its regular annual major maintenance from mid-August thru end of September 2013. It restarted ethanol production during the first week of October 2013.

· For export sales destined for markets in the European Union and delivered to Rotterdam, total shipping costs from the Ethanol Plant to Rotterdam are estimated as an average for 2013 in the range of US$0.33 - US$0.40 per gallon of ethanol including the Mitsui marketing fee. In general, the net ethanol price received by Maple (FOB Paita) for export sales is the difference between the T2 Ethanol spot price in Rotterdam and the shipping cost including the Mitsui fee.

· The average spot price of Ethanol T2 in Rotterdam from 2 January 2013 to 25 November 2013 has been approximately US$ 3.09 per gallon. So far the spot price for the month of November has been approximately US$2.78 per gallon.

· As of September 30, 2013, Maple's ethanol total production cash costs were approximately US$30.4 million including direct production costs (US$23.3 million), General and Administrative (US$5.9 million), Selling and others (US$1.2 million). A substantial portion of the costs are fixed in nature; and Maple expects to process approximately 1 million gross tonnes of sugar cane during 2013. As a result of the combination of lower ethanol production and lower ethanol price, the projected financial results for 2013 for the ethanol business are below the prior expectations of the Company.

· During the first quarter of 2013, the Company planted 880 hectares of sugar cane reaching a plantation size of 7,412 hectares. An additional 40 hectares were planted during the second quarter of 2013 to achieve the current plantation size of 7,452 hectares. Maple plans to continue expanding its plantation by adding approximately 360 hectares starting in December 2013 to achieve a total planned plantation size of approximately 7,812 hectares by the first quarter of 2014.

Hydrocarbon Production, Refining and Marketing

· A total of approximately 496,000 barrels of oil ("barrels") were sold as of September 30, 2013. Average sales price was approximately US$128 per barrel during the same period.

· Average daily crude oil production was approximately 416 barrels per day as of September 2013.

· As of September 30, 2013, Maple's hydrocarbon business total production cash costs were approximately US$55.5 million including direct production costs (US$44.6 million), General and Administrative (US$8 million), Selling and others (US$2.9 million). The projected financial results for 2013 for the hydrocarbon business are in line with prior expectations of the Company.

Efficiency Programme

The Company is implementing a program to improve the efficiency of its general and administrative areas and reduce costs. As a result of this initiative, Maple has identified a number of cost-saving alternatives that are currently under implementation, and the Company expects to save approximately US$2.0 million per year in the initial stages of this programme.

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

Forward-Looking Statements

Statements contained in this document, particularly those regarding possible, projected, or assumed future performance and results, including growth outlook, forecasted economics, operations, production, contracting, costs, prices, earnings, returns, and potential growth, are or may include forward-looking statements. Such statements relate to future events and expectations and as such involve known and unknown risks and uncertainties. These risks and uncertainties include, among other things, market conditions, weather risks, economic and political risks, and other factors discussed in Maple's Admission Document available on the Company's website (www.maple-energy.com). Forward-looking statements are not guarantees of future performance or an assurance that Maple's current assumptions and projections are valid. Actual results, actions, and developments may differ materially from those expressed or implied by those forward-looking statements depending on a variety of factors. Furthermore, any forward-looking statements presented are expressed in good faith and are believed to have a reasonable basis as of the date of this release. These forward-looking statements speak only as at the date of this release, and Maple does not assume any obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise.