MXP.L Regulatory News (MXP)

Max Petroleum Plc

(the "Company")

Drilling Update

12 May 2011

Max Petroleum Plc, an oil and gas exploration and development company focused on Kazakhstan, announced today an operational update of its activities in the Blocks A&E Licence area in the Republic of Kazakhstan.

Narmundanak South

Drilling has commenced at the NARS-1 exploration well on the Narmundanak South prospect in Block E, the tenth of the Company's 15 post-salt exploration prospects. The total depth of the well will be approximately 1,700 metres, targeting Triassic reservoirs.

Asanketken

Drilling at the ASK-1 exploration well in the Asanketken prospect on Block E has been slower than expected due to mechanical problems encountered with the drilling rig that are currently being addressed. The well has not yet reached the primary Triassic target section between 2,800 to 3,250 metres, which the Company expects to evaluate in the next several weeks. The results of the well will be announced after the Company reaches its target depth of approximately 3,300 metres and logs the well. The Company earlier announced a Jurassic discovery in the ASK-1 well with 24 metres of net oil pay at depths between 1,230 and 1,302 metres.

Zhana Makat

Drilling at the ZMA-ET2 appraisal well in the Zhana Makat Field has reached total depth at 1,492 metres and is preparing to log. The Company has taken four 18m cores in the well.

Enquiries:

Richard Hook, Chief Operating Officer of Max Petroleum, is the qualified person that has reviewed and approved the technical information contained in this announcement. Mr. Hook is a member of the Houston Geological Society and holds both Masters and Bachelors of Science degrees in geology.