Max Petroleum Suspends Production on Zhana Makat Field

Production at the Zhana Makat field has been temporarily suspended pending approval of Max Petroleum’s proposed gas utilization plan by the Ministry of Energy and Mineral Resources (MEMR).

The Company has filed the applicable permit application with the MEMR and anticipates that approval of the gas utilization plan, as well as the associated gas flaring permit, will be obtained shortly. Upon receipt of such approval, the Company will resume production in the Zhana Makat field without any material impact on the Company's ongoing operations.