Update on Investment - Block Energy Plc

25 September 2017

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

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

Update on Investment - Block Energy Plc ("Block Energy")

Mayan notes that Block Energy plc has today announced that it has agreed to acquire the outstanding 31% working interest and as a result attains 100% interest in the producing Norio field in the Republic of Georgia. This acquisition triggers a fundamental change in Block Energy's business activities and status and will be treated as a reverse takeover under the NEX Exchange Growth Market Rules for Issuers. Consequently trading in the Block Energy's ordinary shares on the NEX Exchange Growth Market has been suspended pending publication of its AIM admission document in line with its intention to dual list on AIM, a market operated by the London Stock Exchange.

Mayan holds an investment of £300,000 in Block Energy, via £90,000 of equity @ £0.0085 per share and £210,000 in a Secured Convertible loan with a flat 10% coupon, as announced on 27 June 2017. The loan note converts at a 10% discount to any price at which Block Energy's shares are listed or admitted on any stock exchange other than NEX.

Mayan Chairman, Charlie Wood said "We are pleased to see the progress Paul and his team at Block Energy are making on the development of their portfolio of assets in Georgia. The impending publication of a CPR and progression to dual-listing on AIM signals the next step in their development phase and the unlocking of value for Mayan as a Block Energy shareholder."

For further information please refer to the full announcement of Block Energy: -

http://www.nexexchange.com/announcements?newsid=3798611

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").

**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