Max Petroleum Adds to Staff

Max Petroleum has appointed Scott Fullerton as Drilling Manager and Deputy COO. Scott has 27 years' experience in senior management positions in the international drilling industry, most recently as operations manager for Pride International where his responsibilities included drilling operations for the BP Thunder Horse semi-submersible platform, the largest of its kind ever constructed. Previously, he served as senior operations officer for Lukoil for their first well in the northern sector of the Caspian (a 5,000 meter discovery), Argentina general manager for Welltech, Inc. of Houston, Texas, general manager for Nabors Drilling in Gabon, drilling superintendent for Noble Drilling in Nigeria and Global Marine in the North Sea, and as a manager of drilling operations in various capacities for Santa Fe Drilling in Latin America, the Middle East, Africa, South East Asia, and the North Sea.

Robert Holland, Interim Chief Executive Officer, commented:

"I am delighted to welcome Scott Fullerton to the Max team as our new Drilling Manager and Deputy COO. Scott brings high caliber operational experience and leadership to Max. His extensive technical experience in drilling, field operations and project management will be invaluable, as the Company's 3.4 million acres cover a diverse group of drilling opportunities and challenges."

The Company reported the following operational update covering drilling and production from both its A&E and East Alibek license areas in Western Kazakhstan.

Zhana Makat - Block E:

The Company is currently capable of producing approximately 3,000 barrels of oil per day from nine producing wells in the Zhana Makat field. Due to short-term facility constraints, current production is limited to approximately 2,000 bopd. The Company is accelerating the completion of additional production facilities to allow for expanded export and domestic sales, which is expected to take several more weeks to complete. The Company has contracted for a workover rig, which will be on site in early November and will be used to increase production from existing wells, as well as accelerating the completion of new wells.

North Akatkol - Block E:

The Company has begun drilling its first exploration well in the North Akatkol prospect with its shallow rig while production capabilities catch up to potential output in Zhana Makat.

East Alibek:

The Company has drilled its first well in the East Alibek contract area to a total depth of 3,530 meters. While the well encountered oil shows in the KT-2 formation, they were in non-commercial quantities and the Company has plugged and abandoned the well. The Company is currently evaluating its future plans for East Alibek and will inform the market of its decision in due course.

Robert Holland, Interim Chief Executive Officer, commented:

"Improving production and cash flow is our major short-term priority. For that reason, I am pleased to report that we are continuing to successfully drill producing wells in Zhana Makat and are expanding our facilities to meet our growing productive capability."


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