Acquisition

6 Dec 2005 14:11

Max Petroleum PLC06 December 2005 MAX PETROLEUM PLC ACQUISITION Max Petroleum plc ("Max") has acquired 100% of the share capital of KazgasLimited ("Kazgas") for US$3.5m. Kazgas has an exclusive agreement to purchase asignificant, highly prospective block in Kazakhstan which is subject to asub-surface use contract being signed in its favour. Kazgas will be funded byMax to enable it to pay US$5m into an escrow account to be released upon thesigning of the sub-surface use contract. The Directors of Max expect thissub-surface use contract to be signed in due course and a further announcementregarding the Acquisition will be made accordingly. 6 December 2005 Enquiries:Max Petroleum PLC James A. Jeffs T: +44 (0)20 7514 1490 Chief Executive Officer Steve Kappelle Chief Operating Officer Pelham Public Relations Charles Vivian T: +44 (0)20 7743 6672 E : Charles.vivian@pelhampr.com Alisdair Haythornthwaite T : +44 (0) 20 7743 6676 E: Alisdair.haythornthwaite@pelhampr.com This information is provided by RNS The company news service from the London Stock Exchange