Operational update

Max Petroleum Plc

(the "Company")

Successful appraisal wells at Sagiz West and Uytas

6 November 2013

Max Petroleum Plc, an oil and gas exploration and production company focused on Kazakhstan, is pleased to announce successful drilling results of an appraisal well in Sagiz West and two appraisal wells in the Uytas field.

The SAGW-9 appraisal well in the Sagiz West field has reached a depth of 1,440 metres with electric logs indicating 39 metres of net pay over a 79 metre gross interval in the Triassic Formation at measured depths between 1,208 and 1,287 metres. Reservoir quality is very good with porosities ranging from 15% to 29%. The Company is setting production casing in the well and will begin testing SAGW-9 as soon as practicable. The Zhanros ZJ-30 rig will next move to drill the SAGW-12 well in the south-western portion of the field, one of six wells remaining in the current appraisal programme at Sagiz West.

In the Uytas field, the UTS-18 appraisal well successfully reached a total depth of 450 metres, with electric logs indicating five metres of net oil pay in Cretaceous Aptian reservoirs. Reservoir quality is excellent. Hydrocarbon shows were not encountered in the shallow Albian section. The Company plans to complete the well and place it on test production as soon as practicable.

Also in the Uytas field, the UTS-17 appraisal well successfully reached a total depth of 200 metres, with electric logs indicating three metres of net oil pay in a Cretaceous Aptian reservoir. Reservoir quality is excellent. Hydrocarbon shows were not encountered in the shallow Albian section. The Company plans to complete the well and place it on test production as soon as practicable.

The Company will next drill the UTS-19 well targeting Cretaceous reservoirs with a total vertical depth of approximately 200 metres. After UTS-19, a single additional well at UTS-20 remains to be drilled as part of the initial appraisal programme in the Uytas field.