Max Petroleum announces Group reserves as at 31 March 2014 as estimated by its Competent Person, Ryder Scott Company LLC (RSC). The reserves reflect drilling results and other technical information as at that date, including the results from 35 wells drilled during the fiscal year ended 31 March 2014.

As at 31 March 2014, RSC estimated that the Group had 9.5 million barrels of oil equivalent (mmboe) in proved and probable (2P) reserves with an after-tax net present value discounted at 10% ("PV10") of US$184 million. This is an increase of 11% from 8.6 mmboe as at 30 September 2013, with a PV10 of $140 million, and a decrease of 14% from 10.9 mmboe as at 31 March 2013, with a PV10 of US$184 million.

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