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Max Petroleum Plc

(the "Company" or "Max Petroleum")

Holdings in Company

2 January 2013

On 2 January 2013, the Company received notification that, as of 31 December 2012 General Enterprise Management Services (International) Limited ("GEMS") held  an indirect and beneficial interest in 36,924,217 ordinary shares in the Company ("Ordinary Shares"), consisting of 9,397,899 Ordinary Shares and a warrant entitling GEMS to acquire a further 27,526,318 Ordinary Shares at an exercise price of 4.54-19.22p per share. If these warrants were exercised (and assuming no other warrants or options in the Company were exercised) the resulting holding of GEMS would be less than 3% of the voting rights of the then issued ordinary share capital of the Company. Therefore GEMS no longer holds a notifiable interest in the Company.

GEMS is the parent undertaking of Asia Resources Fund Ltd, which is the parent undertaking of ARF Energy Limited ("ARF"). ARF is the warrant holder and legal owner of the ordinary shares.

Enquiries:

Max Petroleum Plc

Michael Young

President and Chief Financial Officer

Tel: +44 (0)207 355 9590


Tom Randell

Director of Investor Relations


College Hill

David Simonson/ Anca Spiridon

Tel: +44 (0)207 457 2020

WH Ireland Ltd

Daniel Bate / Katy Mitchell

Tel: +44 (0)161 832 2174

Macquarie Capital

Steve Baldwin/ Jeffrey Auld/ Nicholas Harland

Tel: +44 (0)203 037 2000

Oriel Securities

Michael Shaw / Ashton Clanfield

Tel: +44 (0)207 710 7600


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