Holding(s) in Company

Max Petroleum Plc

(the "Company")

Holdings in Company

15 August 2012

On 14 August 2012, the Company received notification that, as of 7 August 2012, Henderson Global Investors ("Henderson") held a beneficial interest in 127,314,903 ordinary shares in the Company ("Ordinary Shares"), consisting of 103,615,243 Ordinary Shares and convertible bonds held in the Company, which are convertible into 23,699,660 Ordinary Shares at a conversion price of 32p per share at a fixed USD/GBP exchange rate of $1.49 to £1. If these convertible bonds were exercised (and assuming no other convertible bonds, warrants or options in the Company were exercised) the resulting holding of Henderson would represent 12.2% of the then issued share capital of the Company.