Drilling Update

Max Petroleum Plc

("Max Petroleum" or the "Company")

Drilling Update

02 November 2011

Max Petroleum Plc, an oil and gas exploration and production company, today announced an update of its drilling operations in the Blocks A&E licence area in the Republic of Kazakhstan.

ZLGS-1 exploration well in Zhalgyz South prospect non-productive

The Company has completed drilling the ZLGS-1 exploration well on the Zhalgyz South prospect in Block A. The well reached a total depth of 1,435 metres without encountering producible hydrocarbons and will be plugged and abandoned. The Zhanros ZJ-20 drilling rig will now move on to drill the KZIE-2 appraisal well testing Jurassic reservoirs in the recently discovered East KyzylzharI Field in Block E.

Appraisal well spudded in Zhana Makat Field

The ZMA-A19 appraisal well has been spudded in the Zhana Makat Field. The total depth of the well will be approximately 950 metres targeting Jurassic reservoirs.

Deep rig on location and being commissioned to drill the NUR-1 well

The Saipem drilling rig is on location and currently being commissioned to begin drilling the NUR-1 well on the Emba B prospect in Block E. The Company expects the well to spud within the next few days once the rig is accepted to commence operations.

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.