Issue of Equity

16 October 2017

Mayan Energy Ltd / Index: AIM / Epic: MYN/ ISIN: VGG6622A1057 / Sector: Oil and Gas

Mayan Energy Ltd ("Mayan" or "the Company")

Issue of Equity and TVR

Mayan (AIM: MYN) is pleased to announce that further to its RNS of 8 August 2017, the subscription by Dr David Kahn of 83,333,333 Ordinary Shares of no par value each in the capital of the Company at a placing price of 0.3 pence (the (the "Kahn Shares") has now been concluded. As previously reported the Kahn Shares (which will rank pari passu with the existing Ordinary Shares) will be admitted to trading on AIM with dealings expected to commence on 20 October 2017.

Eddie Gonzalez, CEO, commented: "David joining Mayan and his follow through in investing in us, are in my view, major inflection points for the Company. Since David came on board us, my initial excitement about working with him has been more than met, and I am thrilled by his commitment and the confidence he is showing in us, and in the vision we are developing for Mayan's future."

Total Voting Rights ("TVR")

Following the issue of the 83,333,333 Ordinary Shares the Company's issued share capital will consist of 733,643,627 Ordinary Shares with voting rights. No Ordinary Shares are held in treasury at the date of this announcement and therefore following the Admission, the total number of Ordinary Shares in the Company with voting right will be 733,643,627.

The above total voting rights figure may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in the Company.

Special note concerning the Market Abuse Regulation

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No 596/2014 ("MAR"). Market soundings, as defined in MAR, were taken in respect of the Subscription, with the result that certain persons became aware of inside information, as permitted by MAR. That inside information is set out in this announcement. Therefore, those persons that received inside information in a market sounding are no longer in possession of inside information relating to the Company and its securities.

**ENDS**

For further information visit www.Mayanenergy.com or contact the following:

Notes:

Mayan Energy Limited is an AIM listed (London Stock Exchange) oil and gas energy Company; focussed on the redevelopment and enhancement of its upstream oil and gas interests in Oklahoma, Louisiana and Texas