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Director Dealings

25th Jan 2010 07:00

RNS Number : 0334G

Maple Energy plc

25 January 2010

MAPLE ENERGY PLC

("Maple" or the "Company")

Director Dealings

Maple Energy plc (AIM: MPLE; LIMA: MPLE), an integrated energy company with assets in Peru, was notified that on 22 January 2010, Mr. Carlos de la Guerra, Senior Vice President and Executive Director of the Company, entered into a sale and repurchase agreement (the "Agreement") through the Lima Stock Exchange for the sale and repurchase of up to 345,449 ordinary shares beneficially owned by Mr. Carlos de la Guerra.

Under the terms of the Agreement, Mr. De la Guerra will sell 345,449 ordinary shares at a price of $1.04 (65p*) per ordinary share, while assuming an obligation to repurchase such shares at a price of $1.10 (68p*) per ordinary share on or before 21 July 2010.

Following the above dealings, and prior to the repurchase of such ordinary shares, Mr. De la Guerra will beneficially own 9,791,721 ordinary shares, or 9.3% of the outstanding share capital of Company on a non-diluted basis.

*The exchange rate used was 1.6122, the rate at Bloomberg for US dollars/UK sterling at 10:54hrs (EST) on 22 January 2010.

For further information, please contact:

Maple Energy plc (+ 51 1 611 4000)

Rex W. Canon, Chief Executive Officer, President and Executive Director

Jefferies International Limited (+44 20 7029 8000)

Jack Pryde

Paul Wheeler

Schuyler Evans

Citigate Dewe Rogerson (+44 20 7638 9571)

Martin Jackson

George Cazenove

About Maple Energy

Maple is an integrated independent energy company, listed in London and Lima, with assets and operations in Peru engaging in numerous aspects of the energy industry, including:

Exploration and production of crude oil and natural gas

Refining, marketing and distribution of hydrocarbon products

The development of an ethanol project

Maple was admitted to AIM on 13 July 2007 and trades under the symbol "MPLE". The company was also admitted to the Lima Stock Exchange on 21 December 2007 where it trades under the same symbol.

Operations

Maple's operations are conducted and revenues are generated through its wholly-owned subsidiaries. Maple's principal operations consist of the following:

Crude Oil Production. Operator and holder of 100% working interests in its crude-oil producing properties, Blocks 31-B, 31-D and 31-E;

Refining, Marketing and Distribution Operations. Operator of the Pucallpa Refinery and Sales Plant, which has capacity to refine up to (i) 3,400 barrels per day of crude oil producing Residual 5 fuel oil, (ii) 3,000 barrels per day of crude oil producing Residual 6 fuel oil or (iii) 4,100 barrels per day of natural gasolines. This plant also includes sales and distribution operations in the central Peruvian jungle, central Peruvian highlands and Lima regions;

Ethanol Project. Project developer and major shareholder in an estimated US$222 million (excluding value-added taxes, debt service reserve account, and interest during construction) ethanol project located in the Piura Region on the northwest coast of Peru;

Oil and Gas Exploration. Significant exploration opportunities through a:- 100% working interest in Block 31-E, containing the San Roque and Cashiboya Deep prospects and the new shale gas opportunity; and- 33.77% working interest in the Aguaytía Deep Prospect in Block 31-C.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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