Start-Up of Ethanol Plant

For immediate release 2 April 2012

MAPLE ENERGY PLC

("Maple" or the "Company")

 START-UP OF ETHANOL PLANT

Maple Energy plc (AIM: MPLE; LIMA: MPLE), an integrated energy company with assets in Peru, is pleased to announce the start-up of its ethanol plant and provide an update on the development of its ethanol project (the "Ethanol Project").

Maple is pleased to confirm the substantial completion of the Ethanol Plant except for certain works primarily related to the commissioning of the electric power generation facilities. The Company has commenced harvesting and processing its sugar cane and expects to begin producing ethanol within the next several days. The amounts of sugar cane harvested and processed as well as ethanol to be produced are expected to gradually increase during the second quarter of 2012 during this initial phase of operations. The power generation facilities, which are not necessary to produce ethanol, are expected to be fully completed, commissioned, and placed into operation during the middle of 2012.

The initial production of ethanol is expected to be sold into the local market and/or stored for later sale into the export market. Ethanol for the export market will be stored at the ethanol storage, loading, and shipping facility near the port of Paita, which is being developed by Penta Tanks Terminals S.A. pursuant to a contract with Maple to build, own, and operate this facility. A substantial portion of the facility, including the storage facility which is now available for use, is completed, and the entire facility is expected to be placed into operation in the second quarter of 2012.

Project Photo Album

A photo album of the Ethanol Project, which includes photos of the Ethanol Plant taken during the second half of March 2012, is now available on Maple's website (www.maple-energy.com/photoalbum.html).

Rex Canon, CEO of Maple Energy, commented today:

"We are delighted to report the start-up of our ethanol plant and share this exciting news with all our shareholders. This event marks a key milestone for the Company in its initiative to develop one of the largest ethanol projects in Peru with the goal of being a low-cost, globally competitive ethanol producer."

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.

Forward-Looking Statements

Statements contained in this document, particularly those regarding possible, projected, or assumed future performance and results, including growth outlook, forecasted economics, operations, production, contracting, costs, prices, earnings, returns, and potential growth, are or may include forward-looking statements. Such statements relate to future events and expectations and as such involve known and unknown risks and uncertainties. These risks and uncertainties include, among other things, market conditions, weather risks, economic and political risks, and other factors discussed in Maple's Admission Document available on the Company's website (www.maple-energy.com). Forward-looking statements are not guarantees of future performance or an assurance that Maple's current assumptions and projections are valid. Actual results, actions, and developments may differ materially from those expressed or implied by those forward-looking statements depending on a variety of factors. Furthermore, any forward-looking statements presented are expressed in good faith and are believed to have a reasonable basis as of the date of this release. These forward-looking statements speak only as at the date of this release, and Maple does not assume any obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise.