MXP.L Regulatory News (MXP)

Max Petroleum Plc

(the "Company")

Drilling Update

24 May 2010

Max Petroleum Plc, an oil and gas exploration and development company focused on Kazakhstan, today announced that it has completed drilling the BOR-2 appraisal well in the Borkyldakty Field in Block E, reaching a total depth of 1,760 metres. The productive Triassic reservoirs found in the BOR-1 discovery well are present and well developed in BOR-2, but were encountered structurally lower than expected, at or below their respective oil-water contacts. As a result, the BOR-2 well will be completed as a water injection well to be used in the future development of the Field. The Sun Drilling ZJ-30 rigwill now move to the KZI-1 exploration well on the Kyzylzhar 1 Prospect in Block E, followed by a second appraisal well in the Borkyldakty Field.

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.