ETHANOL BUSINESS UPDATE

MAPLE ENERGY PLC

("Maple" or the "Company")

ETHANOL BUSINESS UPDATE

Maple Energy plc (AIM: MPLE; LIMA: MPLE), an integrated energy company with assets in Peru, announces today several updates regarding its ethanol business.

·; Maple completed a total of three export sales of fuel-grade ethanol to Mitsui during August and September 2012 under the existing sales and distribution agreement between the parties. These sales were for an aggregate volume of approximately 13,200 cubic metres (approximately 3,488,000 gallons) of ethanol destined for customers in the European Union ("EU"). Maple expects to continue exporting a substantial portion of its ethanol production to international markets.

·; Maple has completed the formal process of sustainability certification for biofuel production by the Roundtable on Sustainable Biofuels ("RSB"). Maple Etanol S.R.L. and Maple Biocombustibles S.R.L., subsidiaries of the Company, now have received RSB certification for the sugar cane plantation and ethanol industrial facility. Since RSB certification is recognized by the EU and the German Government as proof of compliance with the EU and German regulations, Maple's ethanol can now be sold in EU countries as certified product which provides value to Maple and its customers. Without such certification, Maple would not be able to sell its ethanol for distribution to key EU markets such as Germany.

·; As of today, approximately 320,000 tonnes of sugar cane have been harvested and processed at the Ethanol Plant since it began processing sugar cane at the end of March 2012.

·; Maple currently estimates that its total production costs per gallon of ethanol produced and available at the Ethanol Plant ("Total Production Costs") using its own sugarcane as feedstock should be in the range of approximately US$1.20 to US$1.30 once the Ethanol Plant has completed the "ramp up" period during the initial phase of operations and the first phase of the Company's plantation has been completely developed. This Total Production Costs estimate includes direct production costs comprised of agricultural, industrial, and other direct costs as well as administrative costs. For export sales destined for markets in the EU and delivered to Rotterdam, additional costs for storage, loading, marketing, and transportation including shipping costs from Peru to Rotterdam (collectively, "Transportation and Marketing Costs") are currently estimated to be in the range of US$0.40 per gallon to US$0.50 per gallon of ethanol exported.

These estimates, including the Total Production Costs and Transportation and Marketing Costs, are based on Maple's management estimates as at the date of this release. Maple does not assume any obligation to publicly update any estimates, whether as a result of new information, future events, or otherwise. Each of these estimates is based on numerous assumptions and such assumptions and the resulting estimates are subjective and not fixed, and therefore susceptible to varying interpretations and periodic re-evaluation based on actual experience, business, market, and industry conditions. As such, actual costs may differ from the estimates provided above and such differences may be material.

·; An updated version of Maple's corporate presentation will be available on its website (www.maple-energy.com/Inv_Presentations.aspx) on 1 October 2012. In addition, a new corporate video highlighting the Company's ethanol business will also be available on its website (www.maple-energy.com/Mapletv.aspx) on the same day.

Rex Canon, CEO of Maple Energy, commented today:

"We are delighted to report the certification of Maple's ethanol operations by the Roundtable on Sustainable Biofuels which provides evidence of our compliance with the highest sustainability standards in the biofuels industry and allows our ethanol to be distributed into key EU markets.

The Company expects the fourth quarter of 2012 to reflect an increase in production of fuel-grade ethanol as Maple continues to ramp up the processing of sugar cane at the Ethanol Plant during the first year of operations."

For further information, please contact:

Maple Energy plc (+ 51 1 611 4000)

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

Cenkos Securities plc

Jon Fitzpatrick +44 20 7397 8900

Ken Fleming +44 131 220 6939

Mirabaud Securities Ltd (+44 20 7321 2508)

Peter Krens

Rory Scott

Buchanan (+44 20 7466 5000)

Mark Edwards

Ben Romney

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.

About Maple Energy and its subsidiaries

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

·; The development and operation of an ethanol business;

·; Exploration and production of crude oil and natural gas; and

·; Refining, marketing, and distribution of hydrocarbon products.

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 majority-owned subsidiaries. Principal operations consist of the following:

·; Ethanol Business. Operator and owner of an ethanol business located in the Piura Region on the north coast of Peru;

·; 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; and

·; Oil and Gas Exploration. Exploration opportunities through a:

- 100% working interest in Block 31-E; and

- 33.77% working interest in the Aguaytía Deep Prospect in Block 31-C.