FINANCING ARRANGEMENTS

2 March 2012

MAPLE ENERGY PLC

("Maple" or the "Company")

FINANCING ARRANGEMENTS

Maple Energy plc (AIM: MPLE; LIMA: MPLE), an integrated energy company with assets in Peru, is pleased to provide an update on the development of its ethanol project (the "Ethanol Project"), including securing additional financing to support the Ethanol Project.

Maple has made substantial progress in the development of its Ethanol Project and currently expects to begin processing sugar cane and producing ethanol this month. As discussed in the Company's 9 December 2011 press announcement, due to unexpected delays from third-party providers relating to the Ethanol Plant, the projected commencement of commercial operations was delayed to the first quarter of 2012. As a result, the Company has incurred and continues to incur certain incremental project-related costs, including additional internal project management and administrative costs, additional pre-operating costs related to the development and on-going planting and cultivating of sugar cane on the main estate, and certain value-added taxes. Value-added taxes and a portion of the additional pre-operating costs are expected to be recovered once the sugar cane is harvested and ethanol is produced and sold. Maple will issue an update on the estimated project-related costs once start up has occurred.

Incremental project-related costs and other expenditures associated with the completion of the Ethanol Project are expected to be funded through the Company's available cash and borrowings under its available debt instruments, including new Working Capital Facilities of US$9 million (described below) and the proceeds of the Company's stand-by letter of credit facility (the "Stand-by LC") in the amount of US$ 12.5 million that was primarily established to fund any cost over-runs or other necessary expenditures in excess of the budgeted amounts for the Ethanol Project. The Stand-by LC has been fully drawn down and has been fully repaid with a combination of cash and US$8.5 million of borrowings under the Medium-Term Facility (described below).

US$9 Million Working Capital Facility

On 1 March 2012, Maple Etanol S.R.L. ("Maple Etanol"), a subsidiary of Maple, entered into two short-term credit facilities with two Peruvian commercial banks for an aggregate amount of US$9 million in availability (the "Working Capital Facilities"). Maple Etanol will initially borrow US$3 million, the funds of which are likely to be disbursed on or about 2 March 2012, pursuant to such Working Capital Facilities. The Working Capital Facilities are denominated in US Dollars at a fixed interest rate that will be determined on the date any amounts are drawn under the Working Capital Facilities and will be secured by ethanol inventory or claims on value-added tax receipts. The amounts drawn under the Working Capital Facilities will be repaid through cash flow generated from the sale of ethanol inventories or the collection of value-added taxes.

US$8.5 Million Medium Term Credit Facility

On 28 February 2012, Maple Production del Perú S.R.L. ("Maple Production"), a subsidiary of Maple, entered into a US$8.5 million, 23-month secured credit facility (the "Medium Term Facility") with Banco Internacional del Peru, and Maple Production drew down the full available amount of US$8.5 million on 29 February 2012. The Medium Term Facility is denominated in US Dollars at a fixed annual interest rate of 7.00% for any amounts drawn under the Medium Term Facility. Maple Gas Corporation del Peru S.R.L., a subsidiary of Maple, is guaranteeing the payment obligations under the Medium Term Facility. The net proceeds from the Medium Term Facility have been used to repay the outstanding amounts drawn down under the Stand-by LC.

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

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 of an ethanol project;

• 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 Project. Project developer and owner of an ethanol project 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. Significant exploration opportunities through a:

- 100% working interest in Block 31-E, containing the new shale gas opportunity; and

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