Drilling Update

Max Petroleum Plc

(the "Company")

Drilling Update

9 August 2010

Max Petroleum Plc, an oil and gas exploration and development company focused on Kazakhstan, is pleased to announce today that the ZMA-A15 development well in the Zhana Makat Field has reached a total measured depth of 1,525 metres, with electric logs indicating 30 metres of net oil pay, including two Jurassic sandstone reservoirs with 12 metres of net oil pay at true vertical depths ranging between 780 and 829 metres, as well as two Triassic sandstone reservoirs with 18 metres of net oil pay at true vertical depths ranging between 1,277 and 1,331 metres.

The well's primary target was the J-IIb Jurassic reservoir, with a secondary exploratory target in the Triassic. The J-IIb reservoir is well developed, as expected. While Triassic reservoirs are productive in the adjacent Makat Field, wells have only produced from the Jurassic and Neocomian intervals in Zhana Makat. Therefore, a successful production test in the Triassic would represent a new discovery and extension of the Zhana Makat Field.

The Company is running production casing in the well, after which the Sun ZJ-30 drilling rig will move on to drill the KAW-1 exploration well on the Karsak West prospect in Block E. The Company will complete and test the ZMA-A15 well using a workover rig over the next several weeks and will announce production test results as soon as practicable.

Michael B. Young, President and CFO commented:

"Finding new Triassic potential in the Zhana Makat Field reflects the application of learnings from the Company's ongoing post-salt exploration programme in Blocks A&E. Our technical team moved the original location of the ZMA-A15 well to evaluate the Field's Triassic potential in response to our earlier Triassic discovery in the Borkyldakty Field, as well as our revised estimate of the Triassic potential in our upcoming Karsak West prospect that we expect to begin drilling by the end of August."

Enquiries:

Richard Hook, Chief Operating Officer of Max Petroleum, is the qualified person that has reviewed and approved the technical information contained in this announcement. Mr. Hook is a member of the Houston Geological Society and holds both Masters and Bachelors of Science degrees in geology.