Holding(s) in Company

Max Petroleum Plc

(the "Company")

Holdings in Company

16 January 2013

On 15 January 2013, the Company received notification that, as of 31 December 2012, GLG Partners LP ("GLG") held a legal interest in 285,535,117 ordinary shares in the Company ("Ordinary Shares") consisting of 284,029,578 Ordinary Shares and a warrant entitling GLG to acquire a further 1,505,539 Ordinary Shares at an exercise price of 5p per share. If these warrants were exercised (and assuming no other convertible bonds, warrants or options in the Company were exercised) the resulting holding of GLG would represent 16.2% of the then issued share capital of the Company.