Max Petroleum Plc

Bank of America Merrill Lynch

11th Annual Oil & Gas 1-1 Investor Forum

16 April 2012

NUR-1 pre-salt well, March 2012

2222

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particularly those regarding possible, projected or assumed future performance and results, including resources, reserves, recoveries, production

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and expectations and as such involve known and unknown risks and uncertainties. Actual results, actions and developments may differ materially

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only as at the date of this presentation and Max Petroleum Plc does not assume any obligation to update any forward looking statements, whether as

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Exploration and production company operating in Western Kazakhstan since 2005

100% interest in Blocks A&E licence, covering 12,455km2 onshore

US$38m invested in first broad use of onshore regional 3D seismic in the Pre-Caspian Basin

Six commercial post-salt discoveries to date fully underpinning current enterprise value

Exploration focus:

Shallow, post-salt: 6 prospects and 2 leads (7-12 mmbbl each)

Deep, pre-salt: Emba B Type II prospect expected TD June 2012 (Pmean 467 mmboe)

2012 planned drilling programme

Minimum of 12 shallow exploration, appraisal, and development wells at costs of US$1-2m each

Two deep wells with estimated total forward costs of approx. $30-35m

Increasing reserves, production and cashflow

Company Overview

3

Major Fields and Players

Source: BP Statistical Review 2011

► Under-explored region that has the 9th largest

proven reserves globally(1)– still large amount of

reserves yet to be discovered

► Pre-Caspian Basin contains the largest oil and

gas fields in Kazakhstan and some of the largest

fields in the world

► Dominated by Majors following discoveries in

Karachaganak and Kashagan – limited access

for, and sparse number of, Juniors

► Strong demand for acreage from US Majors as

well as Russian and Chinese players – high

values and favourable farm-in terms will likely be

attributed to large discoveries

► Existing and continually growing infrastructure

access

► Stable political regime and supportive of foreign

investment

► World Bank Ease of Doing Business: 47 /

183 countries (more favorable than

Turkey, Hungary and Italy)

► Positive IHS(3) sovereign risk outlook

Kazakhstan – World-Class Oil Province

4

(1). Source: BP Statistical Review 2011

(2). Risked resources, Max Petroleum estimate

(3). IHS proprietary methodology

World Proved Oil Reserves – Top 20

Zhanazhol: 1.8 Bnboe

Blocks A&E: 1.2 Bnboe (2)

Kashagan : 13 Bnboe

Source: Google Earth, Oxford Institute of Energy Studies

Karachaganak: 14 Bnboe

Tengiz : 9 Bnboe

Operational Overview

5

Total: 163 Employees

Houston:

— 6 employees (including 3

geotechnical)

London:

— 5 employees

Finance & IR

Kazakhstan:

— 152 employees

(including 7 expats)

► 100% owned Blocks A&E exploration and

production license covering 12,455 km2

► Exploration period until March 2013 followed

by 25 year production period

► Acquired, processed and interpreted 5,000 km2

of 3D seismic and 2,091 km of 2D seismic

► 55 exploration and appraisal wells drilled to

date, 39 were successful with six commercial

post-salt discoveries

► Significant production growth from newly

discovered fields since 2011

► Inventory of high quality prospects that will be

tested in the next 11 months

Tengiz

ZhanazholKarachaganak

Kashagan

Block A

Block E

Contours are Km subsea; interval 1 km

P3 – Base Devonian Structure map

License Overview

Max’s Local Presence

6

Production and Reserve Growth

• Cumulative production from Zhana Makat of 3mmbo+

• 4 new fields brought onto production since 31/3/2011

• Substantial 2P reserves and contingent resources from

recent discovery at Sagiz West

• Uytas reserves and contingent resources to be included

in 31/3/2012 CPR Update

*Estimated future production as of 31 March FYE from existing discoveries

based on the Company‘s internal projections

*Figures as per third party Competent Person reports

0

2000

4000

6000

8000

FYE 2007 FYE 2008 FYE 2009 FYE 2010 FYE 2011 FYE 2012* FYE 2013* FYE 2014*

BO

PD

Production Profile

0

2

4

6

8

10

12

14

FYE 2007 FYE 2008 FYE 2009 FYE 2010 FYE 2011 H1 2012

2P Reserves* Sagiz West

East Kyzylzhar I

Asanketken -Jurassic

Borkyldakty

Zhana Makat

7

Export and Domestic Sales Netbacks

Brent oil price US$/BBL

$24.85$31.95

$37.95$43.55

$49.85$55.95

0

20

40

60

80

100

120

140

$70 $80 $90 $100 $110 $120

Export Sales NetbackUS$/BBL

Discount to Brent Production Costs

Transportation Costs Minerals Extraction Tax

Export Rental Tax Export Customs Duty

After Tax Netback

US

$/B

BL

$22.34$27.21

$32.09$36.96

$41.84$46.71

0

10

20

30

40

50

60

70

$35 $40 $45 $50 $55 $60

Domestic Sales NetbackUS$/BBL

Production Costs Transportation costs

Mineral Extraction Tax After Tax Netback

US

$/B

BL

Domestic selling price US$/BBL

8

Post-Salt Discovery Well Economics (Example Case)

► Reserves: 17.6 mmbbl

► Capital Investment: US$76mm

► No. Wells: 22

► Export Oil Price: US$100/bbl

► Domestic Oil Price: US$45/bbl

► IRR: 83%

► NPV 10%: US$189mm

► NPV / bbl: US$10.73

Assumptions

Government Take from Block A&E Generic Prospect’s Success Cashflow (Nominal)

Notes:

(1). Assumes 100% domestic sales first 24 months post discovery

(2). NPV and IRR calculations based on management estimates from working models

Economics Summary(2)

(1)

(1)

Contractor‘s Take36%

Royalty/MET7%

Rental Tax29%

Export Customs Duty5%

Excess Profit Tax8%

Corporate Income Tax12%

WHT on Dividends2%

Property Tax1%

Government ‗s Take64%

2012 Drilling Programme

9

► Post-Salt Appraisal Drilling Programme

► Sagiz West 2 wells (1 drilled)

► Asanketken 2 wells (1 drilling)

► Zhana Makat 2-3 wells

► Post-Salt Exploration Drilling

► Triassic rim prospects 6 wells

► Pre-Salt Exploration Drilling

► Type II Prospect (Emba B) 1 well (drilling)

► Type I (Kuzbak) or Type II (Emba A) 1 well

Post-Salt

10

“Touchdowns”

Mini Basin

with

touchdown

Post-Salt

Reservoirs

Salt

Dome

Pre-salt Source Rocks

Salt

Dome

Mini Basin

with

touchdownMini Basin

without

touchdown

Migration from Pre-Salt Source Rocks to Post-Salt Reservoirs

Source: Max Petroleum

11

Pre-salt Reef Prospect

Salt

Source rock

Pre-salt reservoirs

Post-salt reservoirs

► Seismic line from Block E showing the pre-salt and post-salt sections; oil can migrate into the post-salt section near ―touchdown‖ mini-basins

where salt is absent

► Pre-salt accumulations are charged directly from adjacent source rock (coloured green above)

12

Post-Salt: Blocks A&E

► Blocks A&E include a

large number of fields

that produce from post-

salt reservoirs, including

Max‘s Zhana Makat Field

► Max has acquired 5,000

km2 of 3D seismic data

and 2,091 km of regional

2D seismic data on

Blocks A&E

Sagiz West

East

Kyzylzhar I

Zhana

Makat

3D

Sagiz 3D

Bek Beke 3D

Akatkol 3D

Karsak 3D

Borkyldakty

Dossor

North

West

Tolegen

WestEskine

North

Baichonas

West

Rakusha

South

Zhana Makat

Besbolek NE

Block E

Prospect

Lead on 3D

New Discovery

Existing Field

Asanketken

(Jurassic)3D acquired and

processed

Uytas

Karasai

South

Uytas North

10 km

Block A 3D

13

Exploration Target Result date Depth (M) Outcome

Borkyldakty February 2010 1,755 New discovery

North Kyzylzhar II East March 2010 1,408 Dry hole with residual oil shows

North Kyzylzhar II West April 2010 1,457 Dry hole

Kyzylzhar I June 2010 1,192 Dry hole

Zhana Makat – Triassic August 2010 1,525 Field extension into Triassic

Karsak West September 2010 1,858 Dry hole with minor shows

Uytas November 2010 827 New discovery

Sekir West December 2010 544 Dry hole with residual oil shows

Altykol West February 2011 1,947 Dry hole

Asanketken – Jurassic April 2011 1,300 Jurassic discovery

Narmundanak South June 2011 1,589 Non commercial discovery

East Kyzylzhar I August 2011 1,620 New discovery

Sagiz West September 2011 1,406 New discovery

Zhalgyz South November 2011 1,435 Dry Hole

Asanketken – Triassic December 2011 3,412 Dry Hole

► Drilled 5 commercial discoveries out of 14 exploration wells plus extended Zhana Makat Field into Triassic section

► Future drilling order focused on Triassic-aged reservoirs and four-way trapping styles

Post-Salt Exploration Programme since January 2010

14

2012 Post-Salt Exploration Drilling Portfolio

Prospect Name Location

CoS

(%)

P10

(mmbo)

Pmean

(mmbo)

P90

(mmbo) Description

Karasai South Block A 34 25 12 2 4-way closure

Uytas North Block A 38 22 11 2 4-way closure

Besbolek North East Block E 38 20 10 2 4-way closure

Dossor North West Block E 35 13 7 2 4-way closure

Baichonas West Block E 46 20 10** 3 4-way closure

Eskene North Block E 31 18 9 2 4-way closure

Sum of Mean Potential Resource - 59 MMBO

*A further 2 post-salt leads are still being evaluated

**Includes multi-zone Jurassic target and single zone Triassic target

Block E: Additional Triassic Post-Salt Prospects and Leads

15

3D Outlines

Western Block E – Top of Salt Structure

Tolegen West Lead

Eskene North Prospect

Baichonas West Prospect

Rakusha South Lead

Dossor NW Prospect► 5 new leads generated

from 2D seismic

► Proven post-salt

Triassic play type

► 3D campaign to

elevate leads to

prospects completed

in late 2011

► Three leads elevated

to prospects

► Two leads still being

evaluated

Besbolek NE

Prospect

Post-Salt: Sagiz West Discovery

16

• 27m net pay (21m oil / 6m gas) in

Triassic over 114m interval between

1,177–1,291m

• Estimated recovery pre-test of 20-

30%

• Good porosity between 18-25%

• SAGW-2 appraisal well result limited

the eastern flank of the Field

• SAGW-3 successfully drilled with

15m net oil pay

• SAGW-4 well planned for later in

2012 to further evaluate the structure

Top T4 sands

Top T5 sands

O/W contact

: Pressure measurement indicating Gas

: Pressure measurement indicating Oil

: Pressure measurement indicating Water

: Interval calculates as Gas Pay

: Interval calculates as Oil Pay

G/O contact

SAGW-1 Discovery Well Structure Top of T4 Triassic Reservoir

17

Sagiz West Discovery – Triassic Rim play type

SALT

► Initial discovery in October 2010

► Interpretation of 3D seismic data acquired in late 2011 has revealed a structure larger than previously identified

► Company estimates overall oil in place of 184 million barrels (―mmbo‖)

► 58 mmbo in conventional Cretaceous Aptian (―Aptian‖) and Jurassic reservoirs

► 126 mmbo in shallower, non-conventional Cretaceous Albian (―Albian‖) reservoirs;

► Well tests have confirmed commercial productivity from the Aptian and Jurassic sandstone reservoirs

► Phase One of an appraisal and development programme expected to include approximately 30 low-cost, shallow vertical wells;

► Expected recovery factor of 20% subject to additional drilling and testing

► Based on testing and core analysis, the Company is planning an enhanced oil recovery pilot project using steam injection to determine the commerciality of the

Albian reservoirs.

Post-Salt: Uytas Discovery

UTS - 1 Logging Cretaceous Structure

18

500MC.I. 10 m

Top Aptian TVDSS

C.I. 10m

500 meters

Scale

Pre-Salt Exploration Potential

19

20

► Tengiz, Karachaganak and Kashagan are used

as analogues by Ryder Scott as these giant fields

confirm hydrocarbon occurrence and production

from Palaeozoic carbonate build-ups (reefs)

► The most productive oil reservoirs in the Pre-

Caspian Basin are all in ancient coral reefs

Coral reefs grow upward through the

shallow seas towards sunlight and often

build low relief islands called atolls

► The Tengiz field in the Pre-Caspian Basin is an

ancient atoll located adjacent to a structural high

called the Guriyev Arch

Max‘s Blocks are well-positioned for

reservoir formation and entrapment along

the crest of the Guriyev Arch

Max‘s pre-salt prospects are analogous to the giant fields that have been discovered in close proximity

Tengiz

Zhanazhol

Karachaganak

Kashagan

Block A

Block E

Contours are Km subsea; interval 1 km

P3 – Base Devonian Structure map

Regional Geology

Pre-Salt: Seismic Coverage with Prospect / Lead Inventory

Source: Max Petroleum

21

Block E

10 km

Type II leads and prospects

Concept

210km2

380km2

350km2

1610km2

Block A2060 km2

Type I leads and prospects

1Ref. Prospect/Lead

1 Emba A (Kurzhem)

2 Emba B (NUR-1) 2

3

3 Emba C

4 Emba D

4

5 Emba E

5

8

7

6

6 Akatkol A

7 Akatkol B

8 Akatkol C

9* Bek Beke A

10* Bek Beke B

11* Bek Beke C

910

11

12

13

12* Bek Beke D

13* Bek Beke E

14 Akatkol Deep

15 Kuzbak Deep

14

15

* = lead

Potential to

de-risk

prospects

Kuzbak 3D Survey Area

Prospect Name Prospect

Type

Depth

Top (m)

CoS

(%)

P10

(mmboe)

Pmean

(mmboe)

P90

(mmboe)

Kuzbak Deep Type I 5000 20 875 475 172

Akatkol Deep Type I 5000 23 349 196 75

Bek Beke A* Type I 4000 15 201 109 39

Bek Beke B* Type I 4500 13 223 123 46

Akatkol A Type II 6000 29 683 415 158

Akatkol B Type II 6200 26 439 267 98

Akatkol C Type II 6000 24 809 491 173

Emba A Type II 6000 29 1012 593 190

Emba B Type II 6000 29 817 467 170

Emba C Type II 6000 29 396 238 87

Emba D Type II 5700 29 733 426 149

Emba E Type II 6000 29 300 176 51

Bek Beke C* Type II 6200 24 324 195 65

Bek Beke D* Type II 6200 24 320 189 54

Bek Beke E* Type II 6500 15 44 26 8

Pre-Salt: Portfolio Volumetrics and Risk

22

Block E – Type II: Carbonate buildups, or atolls

Block E – Type I: Evaporite-related reservoirs

Sum of Mean Potential Resource 4.4 BBOE

* Deep Leads

NUR-1Lower Devonian Depth

5000mC.I. 50m

A

A‘

B

B‘

NUR-1 well location

Pre-Salt: Emba B (NUR-1) Prospect

23

B B‘

Pre-Salt: Emba B (NUR-1) Prospect

24

► Six commercial discoveries to date with rapidly growing reserves, production and cashflow

► Both pre-salt and post-salt portfolio de-risked through 5,000 km2 of 3D seismic, regional analysis

by world class technical team and learnings from 55 wells drilled

► Excellent in-country reputation and local operational and technical team

Max Petroleum – A derisked high-reward investment opportunity

Strong Platform

Post-Salt

Programme

Exciting Investment

Opportunity

► Two exploration wells being drilled in sequence in the pre-salt targeting 1.1 bboe

► Result from first deep well at Emba B in June 2012

► Potential to de-risk entire trend of similar Type II prospects

► High level of activity over the next 11 months that will generate significant news flow

► Existing discoveries more than underpin current valuation

► Accretive low cost and low risk post-salt exploration programme

► Deep drilling provides major, near term upside potential for investors

► Strong independent E&P with track record of success in Kazakhstan

25

Pre-Salt

Programme

► 8 exploration leads and prospects, focused on a Triassic Rim play type

► Expectation to improve on historic 36% success rate in exploration programme

► Appraisal and development wells to significantly increase production and cash flow

Appendix

26

27

Triassic Rim Prospects: Eskene North

28

Triassic Rim Prospects: Dossor North West

29

Triassic Rim Prospects: Baichonas West

30

Top Mid Jurassic Pay

Base Mid Jurassic Pay

: Sample at 1287m recovering

14L of 35o API oil

: FMT pressure points indicating oil

gradients and a 72m oil column

24m net oil pay thickness

Excellent porosity rock ranging from 17 – 33%

ASK – 1 Type Log

Post-Salt: Asanketken Jurassic Discovery

Encountered 24m net oil pay in Jurassic between 1,230–1,302m

Initial production rate from a single Jurassic Reservoir 672 BOPD

ASK-2 well confirmed the Jurassic discovery

Pre-Salt: Emba Type II Prospects on Guriyev Arch

31

Block E - 3D pre-stack depth migrated seismic line

53 sq km400 m maxclosure

110 sq km450 m maxclosure

96 sq km450 m maxclosure

A

A’

10 KM

Emba A

Emba B

Emba C

Emba D

Emba E

Pre-Salt: Emba Type II Prospects on Guriyev Arch

32

Base Salt

Lower Carb

Devonian

A A’

► Multiple type II structural/stratigraphic prospects for subsalt Devonian to Carboniferous objectives (Tengiz –age

equivalent); note thinning/drape over deep build-ups. These builds are believed to be ancient coral atolls

Block E - 3D pre-stack depth migrated seismic line

Michael B. Young – President and CFOMr. Young has served as Max Petroleum‘s President since February 2009 and

as CFO since September 2006. He has over 20 years experience in various

financial roles in the oil and gas industry. He served as Chief Financial Officer

of Whittier Energy Corporation from 2003 to 2006 and as Vice President and

Chief Financial Officer of Chaparral Resources from 1998 to 2002. Mr. Young

also serves as Chairman of Alpha Houston, a non-profit organization.

James A. Jeffs – Executive Co-ChairmanMr. Jeffs is a senior executive with extensive experience in investment

management, investment banking and as an executive and director of public oil

and gas companies. Since 1994, Mr. Jeffs has been Managing Director and

Chief Investment Officer of the Whittier Trust Company. Mr. Jeffs was formerly

Chairman of Whittier Energy Corporation, Chairman & Chief Executive Officer

of Chaparral Resources and on the Board of the Los Angeles County Employee

Retirement Association. He currently serves on the Boards of NYSE-listed

Strategic Hotels and Resorts and South Oil Co., a private, Russian-based, oil &

gas company.Robert B. Holland III – Executive Co-ChairmanMr. Holland was a member of the Bush Administration until April 2006, serving

as United States Executive Director of the World Bank. From 1993 to 1999, he

served in various positions, including General Counsel and Chief Executive

Officer, with Triton Energy Ltd, a NYSE-listed international exploration company

that was sold to Amerada Hess. He is a former director of Affiliated Computer

Systems, Massey Energy (elected in late 2010 and serving until its sale), and

Pier 1 Imports and currently a member of the board Ivanhoe Mines (as a

nominee of Rio Tinto), all NYSE-listed companies. He is also a Director of the

non-profit International Psoriasis Council.

Lee O. Kraus – Non-Executive DirectorMr. Kraus is the Founder and President of Composite Capital, LLC, a financial

advisory firm focused on clients in the oil and gas, mining, and chemicals

sectors. He previously served as a Managing Director of Dresdner Kleinwort,

heading up its natural resources group from 2005 to 2007. Between 2000 and

2004, Lee was a Director and Executive Vice President of Jnana Technologies

Corporation, an enterprise software company. From 1991 to 2000, Mr. Kraus

was employed by Lazard Freres & Co., LLC, where he was a Managing

Director concentrating on natural resources and served on the board of Lazard

Moscow. He has also served as a Vice President in the Investment Banking

group at Morgan Stanley, focusing on the oil and gas, mining, and chemical

industries, and as an engineer at Schlumberger Ltd.

David R. Belding – Non-Executive DirectorMr. Belding was previously a senior executive and co-founder of Mandalay

Resort Group, which was acquired by MGM Resorts, Inc for US$7.8 billion in

June 2005. Mr. Belding also co-founded Gold Strike Resorts, a hotel and casino

operator, which he developed from 1977-1995, when it merged with Circus

Circus Enterprises. He was a founder and director of First Independent Bank of

Nevada and served on the Board from 1995-2004. He is a partner and sits on

the board of Valor Equity Partners, an equity capital firm based in Chicago. Mr

Belding serves as a board member of various community and civic

organizations, including UNLV, where he has sat on the Board of Trustees

since 1992. He also served as a director of the Whittier Trust Company from

1998-2008.

Maksut S. Narikbayev – Non-Executive DirectorMr. Narikbayev served as Chairman of the Highest Judicial Board of

Kazakhstan from 2003 to 2006, Chairman of the Supreme Court of Kazakhstan

from 1996 to 2000, and as Prosecutor General of Kazakhstan from 1995 to

1996.

33

Board of Directors

Mustafa Arpaci - Production & Engineering Manager

Mr. Arpaci joined Max Petroleum in June 2009 as Production and Engineering Manager.

Mr. Arpaci has more than 20 years experience in the international oil and gas industry. He

has been working in Kazakhstan since 1994, including 2 years with Karachaganak

Petroleum Operating BV. Mr. Arpaci‘s Kazakhstan experience includes working in Senior

Petroleum Engineering and Management positions for various projects in Aktobe, Atyrau,

Aktau and Uralsk Oblasts. Mr. Arpaci has a Masters of Science Degree in Petroleum

Engineering from the Middle East Technical University in Ankara, Turkey.

Sam Barrows - Marketing Director

Mr. Barrows has served as Director of Marketing for Max Petroleum since January 2009.

He has over 27 years of energy industry experience and has worked in the Caspian

Region since 1998. From October 2006 to December 2008, he served in senior advisory

roles at Karachaganak and AES Kazakhstan. From January 2003 to July 2006, he was

Director of Supply and Logistics at PetroKazakhstan. Prior to this, he worked at Texaco

for 19 years in various positions at trading and transportation subsidiaries, established the

initial export routes for the North Buzachi field in Kazakhstan, and served as a Director of

a crude oil transportation joint venture in Azerbaijan and Georgia. He has a BS in

Business Administration from Colorado State University and an MBA from the University

of Phoenix.

34

Senior Management

Ruslan Murzagaliyev - Deputy General Director – Exploration Kazakhstan

Mr Murzagaliyev has worked for Max Petroleum since 2006 and was appointed as

Exploration Director in June 2010. He has over 17 years of experience in various technical

and managerial roles in the oil and gas upstream sector, including serving as Chief

Geologist at Karazhanbasmunai JSC (Nations Energy LTD) from 1997 to 2006 prior to

joining Max Petroleum‘s exploration team. He has a PhD in Geology awarded by the

accredited Gubkin Oil and Gas University in Moscow, Russia.

Andrew Large - Country Director and Country CFO – Kazakhstan

Mr Large joined Max Petroleum as Country CFO in April 2007 and was appointed Country

Manager in June 2008 and Country Director in August 2011. He has over 20 years of

finance and commercial experience in the oil and gas sector, including various

assignments in Kazakhstan, Turkmenistan, UAE and Russia for both public and private

limited companies. Prior to his employment with Max Petroleum, he served as Finance

Director, Downstream for PetroKazakhstan for five years through its acquisition by CNPC,

and held senior finance positions with Dragon Oil and Nimir Energy, having begun his

energy career with Chevron International based in London.

Murray White - Deputy General Director – Operations Kazakhstan

Mr White joined Max Petroleum in August 2010.He has over 41 years of experience in

various operational roles in the oil and gas industry. He was Drilling Director for

PetroKazakhstan, an internationally listed oil and gas exploration and production

company, from 2000 to August 2006. He also served as: Technical Director of PermTex, a

subsidiary of Soco International in Perm Russia; as First Deputy General Director of

KomiQuest in Usinsk Russia; as Drilling Coordinator in KomiArctic Oil in Usinsk Russia;

and spent 24 years in various positions with Gulf Canada finishing as Western Canada

Drilling Manager.

Geoffrey Stone - Chief Accounting Officer

Mr Stone joined Max Petroleum as Vice President of Finance in August of 2008 and was

appointed Chief Accounting Officer in February of 2009. He has over 19 years of

experience in accounting and finance, including seven years in the oil & gas sector. Prior

to joining Max Petroleum, he served as Chief Financial Officer of Sterling Energy, Inc., a

wholly owned subsidiary of Sterling Energy Plc. Prior to that he served as Vice President

of Finance and Chief Accounting Officer of Whittier Energy Corporation. Prior to joining

Whittier, he held various corporate tax positions, including in public accounting at Price

Waterhouse and KPMG. Mr Stone holds a Master of Professional Accounting degree from

the University of Texas at Austin and is a Certified Public Accountant.

Tom Randell - Director of Investor Relations

Before joining Max Petroleum in April 2011 Mr Randell worked in investor relations and

communications for over 10 years at the Brunswick and Merlin consultancies in London.

Prior to that he was a UK qualified solicitor at Linklaters working in their London and New

York offices specialising in securities and capital markets law. He has had experience

working with a range of natural resources businesses and managing communications with

retail and institutional investors as well as governments and media.

Richard Hook - Chief Operating Officer

Prior to joining Max in April 2008, Mr. Hook spent 27 years with Anadarko Petroleum in

various positions of increasing authority as an Exploration Geologist and Manager. As

Geological Supervisor for Anadarko Algeria in the early 1990‘s, Richard was part of a

team that made a series of major discoveries, including the giant, billion barrel Ourhoud

field in Algeria. He later held positions as a Senior Manager of Southern US Exploration,

North Africa and Middle East Exploration, and finally International Onshore Exploration

world-wide for Anadarko. He also served as Vice President of International Business

Development in the Middle East and Russia for Anadarko International Energy Company,

based in London. Mr. Hook holds a Bachelor of Science in Geology from the University of

Oregon, and a Master of Science in Geology from Oregon State University.