Max Petroleum Continues to Pursue Farm-Outs for 2 Kazak Licenses

Max Petroleum has provided an update for the market regarding its ongoing efforts to farm-out a portion of its equity interests in the Company's Astrakhanskiy and Blocks A&E license areas in western Kazakhstan.

While the Company has been involved in ongoing farm-out discussions during the last several months, the Company has been unable to complete a satisfactory commercial transaction and cannot predict whether or when such a transaction could be concluded.

The Company continues to pursue a farm-out of one or both of its licences. In conjunction, the Board is undertaking a review of its strategic alternatives.