Press release
Stockholm
1 July 2017

This press release is not for release, publication or distribution, directly or indirectly, in or into Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa, Switzerland or the United States, or in any other jurisdiction where distribution of this press release could be illegal or subject to legal restrictions. See also section IMPORTANT INFORMATION below.

Maha Energy AB Announces the Closing of the Acquisition of Gran Tierra's Brazilian Operations.

Closing of Acquisition of Gran Tierra's Brazilian Operations

Maha Energy AB ("Maha" or the "Company") (Nasdaq First North: MAHA A) is pleased to announce that it has Closed the previously announced acquisition of the Brazil business unit of Gran Tierra Energy Inc. ("Gran Tierra" or "GTE") (NYSE MKT:GTE)(TSX:GTE) through the purchase of all of the shares and outstanding intercompany debt[1] of Gran Tierra Finance (Luxembourg) S.Á.R.L. and Gran Tierra Brazco (Luxembourg) S.A.R.L., for net cash consideration of $35 million[2] (the "Acquisition"). Maha now owns and operates, through a 100%-owned subsidiary, the 100% working interests in an additional six concession agreements located[3], in the Reconcavo Basin of Brazil comprising 41,606 gross acres with average production in June of 1,221 boepd.

"We are very pleased to have closed our acquisition of GTE's Brazilian operations. The main asset purchased from GTE is the Tie Field, a producing oil field with development potential.  The Tie Field is at the core of what we are about, "developing underperforming assets".  We are already on the ground and working closely with our new colleagues in Brazil to increase production from the Tie Field. This acquisition is a transformational milestone in the Company's short history.  We are now 100% focused on the next phase of the Company's growth," stated Jonas Lindvall, CEO of Maha.

Below are certain transaction highlights relating to the transaction.

Key Transaction Highlights2

• 10.2 MMboe of Proven and Probable (2P)  Reserves3associated with the Tie Field
  • Estimated NPV (10%) of 2P reserves: $188 million before tax3
  • 91% light oil (38° API)[4]
  • 1P reserves of 7.7 MMboe3 representing 75% of 2P Reserves
• Strong operating netbacks of $30.6 per boe (Q1 2017)
  • Operating expenses of $6.21 per boe and transportation expenses of $1.41per boe (Q1 2017)
  • Competitive fiscal regime
• 2017 average WI production estimated to be 1,200 – 1,500 boepd[5]
• Attractive upside potential
  • 3P working interest Reserves of 14.3 MMboe3, including southern lobe of Tie Field
  • 10 prospects totalling gross mean unrisked Prospective Resources of 45 MMboe6
• Operating synergies and administrative savings with existing Brazilian assets of Maha at Tartaruga

Maha Energy Post Acquisition

With the Acquisition now complete, Maha intends to focus on the development of its assets consistent with the capital plan announced on April 18, 2017.  Maha has a robust portfolio of reserves whose development can be accelerated with increasing oil prices given Maha's flexibility and control as operator of all its assets.

After giving effect to the Acquisition, an estimate of Maha's reserve volumes, based on 2016 reserve reports, is as follows

Advisers

Stockholm Corporate Finance AB acted as financial adviser and Setterwalls Advokatbyrå AB acted as legal adviser (as to Swedish law) to Maha in connection with the previously communicated rights issue.  Arctic Securities AS filial Sverige all acted as financial advisor and sole bookrunner and Roschier Advokatbyrå AB acted as legal advisor for the bond issue. FNCA Sweden AB is the Company's Certified Adviser. Cassels Brock & Blackwell LLP acted as legal counsel in connection with the Acquisition.

For more information, please contact:

Jonas Lindvall (CEO)
Tel:  +1 403 454 7563
Email:  jonas@mahaenergy.ca

or

Ron Panchuk (CCO)
Tel:  +1 403 454 7564
Email:  ron@mahaenergy.ca
Miscellaneous

This information is published in accordance with the EU Market Abuse Regulation and/or the Swedish Financial Instruments Trading Act.  The information was submitted for publication through the agency of the contact persons set out above on 1 July 2017, at 0101 CET.

Maha in Brief

Maha Energy AB is a Swedish public limited liability company.  FNCA Sweden AB has been engaged as Certified Adviser.  The Company's auditors are Deloitte.  The Company's predecessor Maha Energy Inc. was founded in 2013 in Calgary, Canada, by Jonas Lindvall and Ron Panchuk. In May 2016, the new group was formed with Maha Energy AB as parent company for the purpose of completing an initial public offering on the Nasdaq First North Sweden stock exchange.  Jonas Lindvall is the CEO and Managing Director, Maha's strategy is to target and develop underperforming hydrocarbon assets on a global basis. The Company operates three oil fields, Tartaruga and Tie in Brazil and LAK Ranch, in Wyoming, U.S.  For more information, please visit our website www.mahaenergy.ca.

Important Information

Publication or distribution, directly or indirectly, of this press release could in some jurisdictions be subject to restrictions according to law and recipients of this press release, or part of it, are required to inform themselves of, and comply with, such legal restrictions.  This press release is not for release, publication or distribution, directly or indirectly, in or into Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa, Switzerland or the United States, or in any other jurisdiction where distribution of this press release could be illegal or subject to legal restrictions.  Copies of this press release are not being made and may not be distributed or sent, in whole, or part, directly or indirectly, in violation of such restrictions.  Failure to comply with such restrictions may constitute a criminal act under the United States Securities Act of 1933 (as amended) ("Securities Act") or applicable laws in other jurisdictions.

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[1] Normal course debt owed to affiliate of vendor is being acquired

[2] All dollar amounts are in United States dollars unless otherwise indicated

[3] Gran Tierra corporate presentation dated April 2017 posted on www.grantierra.com

[4] Based on Gran Tierra December 31, 2016 annual reserves disclosure

[5] Maha management estimate

2017-07-01 Maha Energy AB Closing Press Release

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This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Maha Energy AB via Globenewswire

2017-07-01 Maha Energy AB Closing Press Release

Press release

Stockholm

June 2, 2017

This press release is not for release, publication or distribution, directly or indirectly, in or into Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa, Switzerland or the United States, or in any other jurisdiction where distribution of this press release could be illegal or subject to legal restrictions.

Maha Energy AB announces outcome in fully guaranteed rights issue

The result of Maha Energy AB's (publ) ("Maha" or the "Company") rights issue, completed on May 30, 2017, was that 3,255,861 A-shares, representing approximately 25 percent of the offered A-shares, were subscribed for with first priority preferential right and subscriptions for second priority preferential rights, and without preferential rights, of 247,827 A-shares, were received. The remaining 9,415,638 A-shares in the Rights Issue will be allotted to the guarantee consortium pro rata in relation to their respective undertakings. Thus, the rights issue is fully subscribed. Through the rights issue, Maha will receive proceeds amounting to approximately SEK 91,727,215 before transaction related costs expected to amount to approximately SEK 15,349,991 (including guarantee provision to be paid in cash).

Through the rights issue Maha's share capital will increase by SEK 142,112.586 from SEK 926,577.52 to SEK 1,068,690.106 and the number of A-shares will increase with 12,919,326 from 71,464,647 A-shares to a total of 84,383,973 A-shares when the rights issue is registered at the Swedish Companies Registration Office (Sw. Bolagsverket) (in addition to the A-shares listed on Nasdaq First North, there are 10,771,673 B-Shares and 1,998,000 C2-shares in the Company together representing a share capital in the amount of SEK 140,466.403).

The final day for trading in paid subscribed shares (BTAs) is expected to be on or about the week ending June 25, 2017. The new A-shares subscribed for with first priority preferential right are expected to start trading on Nasdaq First North on or about the week ending June 25, 2017, and the A-shares subscribed for on the basis of second priority preferential right, and without preferential right, about the week ending July 9, 2017.

Advisers

Stockholm Corporate Finance AB acts as financial adviser and Setterwalls Advokatbyrå AB acts as legal adviser (as to Swedish law) to the Company in connection with the rights issue. FNCA Sweden AB is the Company's Certified Adviser.

For more information, please contact:

Jonas Lindvall (CEO)
Tel: +1 403 454 7560        
Email: jonas@mahaenergy.ca

or

Ron Panchuk (CCO)

Tel: +1 403 454 7560        
Email: ron@mahaenergy.ca

Miscellaneous

This information is published in accordance with the EU Market Abuse Regulation and the Swedish Financial Instruments Trading Act. The information was submitted for publication through the agency of the contact persons set out above on June 2, 2017, at 11:00 pm CET.

Maha in Brief  
Maha Energy AB is a Swedish public limited liability company. FNCA Sweden AB has been engaged as Certified Adviser. The Company's auditors are Deloitte. The Company's predecessor Maha Energy Inc was founded in 2013 in Calgary, Canada, by Jonas Lindvall and Ron Panchuk. In May 2016, the new group was formed with Maha Energy AB as parent company for purposes completing an initial public offering on the Nasdaq First North Sweden stock exchange. Jonas Lindvall, CEO and Managing Director, has 26 years of international experience in the oil and gas industry, starting his career with Lundin Oil during the early days of E&P growth.  After 6 years at Shell and Talisman, Jonas joined, and helped secure the success of, Tethys Oil AB. Maha's strategy is to target and develop underperforming hydrocarbon assets on global basis. The Company operates two oil fields, Tartaruga in Brazil and LAK Ranch, in Wyoming, U.S. For more information, please visit our website www.mahaenergy.ca.

Important Information
Publication or distribution, directly or indirectly, of this press release could in some jurisdictions be subject to restrictions according to law and recipients of this press release, or part of it, are required to inform themselves of, and comply with, such legal restrictions. This press release is not for release, publication or distribution, directly or indirectly, in or into Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa, Switzerland or the United States, or in any other jurisdiction where distribution of this press release could be illegal or subject to legal restrictions. Copies of this press release are not being made and may not be distributed or sent, in whole, or part, directly or indirectly, in violation of such restrictions. Failure to comply with such restrictions may constitute a criminal act under the United States Securities Act of 1933 (as amended) ("Securities Act") or applicable laws in other jurisdictions.

This press release neither constitutes, nor constitutes a part of, an offer or a solicitation of an offer to purchase or subscribe for securities in Maha. Invitation to subscribe for securities in Maha has only been made in accordance with the prospectus published on May 15, 2017 and the supplementary prospectus published on May 23, 2017. No subscription rights, BTAs (interim shares) or new shares have or will be registered in accordance with the Securities Act or securities legislation in any state or other jurisdiction in the United States. No subscription rights, BTAs (interim shares) or new shares may, directly or indirectly, be transferred to or offered for sale in Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa, Switzerland or the United States, or in any other jurisdiction where such measure could be subject to legal restrictions or to any person residing in such jurisdictions, or on such person's account, other than in accordance with applicable exemptions that do not require registration in accordance with the Securities Act or similar measures according to applicable laws in other jurisdictions.

Maha Press Release-Outcome of Rights Issue

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This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Maha Energy AB via Globenewswire

Maha Press Release-Outcome of Rights Issue

Press release

Stockholm

June 1, 2017

This press release is not for release, publication or distribution, directly or indirectly, in or into Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa, Switzerland or the United States, or in any other jurisdiction where distribution of this press release could be illegal or subject to legal restrictions.

Maha Energy AB Announces Resubmission of Q1 Financial Statement Press Release

Maha Energy AB (publ) ("Maha" or the "Company") yesterday released its Q1 Financials Statements for the quarter ended March 31, 2017.  The Q1 Financial Statements are attached and have not changed and are available on the Company's website at www.mahaenergy.ca.  The Company is herewith providing the following highlights as is customary with releasing Financial Statement Press Releases which was not provided as part of yesterday's press release.

First Quarter 2017

• Total Production of 8,657 bbls for the period compared to 0 bbls for the same period 2016
• Revenue of KUSD 449 for the period compared to KUSD 0 for the same period 2016
• Net Result of KUSD (1,213) for the period compared to KUSD (582) for the same period 2016
• Net Result of (0.02)/share for the period compared to (0.01)/share for the same period 2016

Highlights of First Quarter 2017

• Maha completed the acquisition of a 75% operated interest in the Tartaruga Field (an onshore production block located in the Sergipe Alagoas Basin in Brazil).
• Maha completed the anticipated workover of the SES-107 D well.  Upon completion of the work, the well tested 220 BOPD on the newly installed jet pump.
• The planned Jet Vak operations at the LAK Ranch heavy oil field in Wyoming were completed.  Three wells were re-entered and cleaned out.  Results suggested severe sand plugging in one well         and the Company has now expanded the previous small scale pilot hot water flood.
• Maha sold its entire interest in the Manitou and Marwayne properties (the "Canadian Assets") to Petrocapita Oil and Gas L.P. ("Petrocapita") for total consideration of CAD$1.65 million, of which          CAD $750,000 is payable in cash over 9 months commencing March 15, 2017.
• Maha entered into an agreement to acquire the Brazilian business unit of Gran Tierra Energy Inc. ("Gran Tierra") for a cash consideration of USD 35 million and the assumption of approximately          USD 11 million in Letters of credits and Surety Bonds.
• In contemplation of completing the Gran Tierra acquisition, the Company completed a Directed Share issue for gross proceeds of USD 10.5 million.

Letter to Shareholders

Dear Friends and Fellow Shareholders of Maha Energy AB,

The first three months of the year can be summed up in one word: "Brazil".  In Brazil, Maha completed the acquisition of the Tartaruga light oil field, added 220 BOPD of production to the Tartaruga field after a complicated workover and agreed to acquire (by providing a USD 3.5 million deposit) the Brazilian operations of Gran Tierra Energy Inc. (GTE)

I would like to take this opportunity to warmly welcome our new employees in Brazil to our expanding team at Maha!

Maha is a value driven Company.  We go where there is value – Brazil represents great value to investors in exploration and production of hydrocarbons.  Its fiscal regime is ranked by IHS as having one of the lower Government Takes in a survey of Global Hydrocarbon Fiscal Regimes. Recent political changes in Brazil combined with the bottoming of the oil commodity cycle in 2016 have presented remarkable opportunities in Brazil's very prolific oil basins.

An example is the GTE acquisition. Maha agreed with GTE to acquire their entire Brazilian operations which include the producing "Tie" light oil field.  During the first Quarter of 2017 GTE reported that the average Tie Field production was 1,398 BOEPD with a corresponding netback of USD 30.30/bbl.  Current Proven reserves are 7.7 million BOE and the 2P reserves are 10.2 million BOEs.

Maha has agreed to a purchase price of USD 35 million and the assumption of approximately USD 11 million in Letters of Credits and Guarantees to acquire this prolific cash-flowing asset. While reserves-based lending would have been the preferable financing tool for this acquisition since that market is not "open" currently, Maha was able to access capital through a senior secured bond in Sweden. Maha is fortunate to have a solid investor base in Scandinavia that shares the vision to 'buy when prices are low'.  Access to capital in these times give us a clear competitive advantage.

During the Quarter we reported updated reserves for the Company. The current reserves are indicative of the underlying value of our assets, even at oil prices near the bottom of the cycle.  In particular we note the great potential reflected in the "Possible" reserves category at Tartaruga.  We knew going into the acquisition that Tartaruga represented a solid production opportunity, but it also has very attractive upside potential which to date is underexploited.

The sale of our Canadian assets was completed during the quarter.  Petrocapita, the new Operator of the fields, purchased our 50% stake in the heavy oil producing Manitou field and our 30% working interest in the shut-in Marwayne heavy oil field for a combined cash and debenture pledge of CAD 1.65 million.  Maha paid just over CAD 1.9 million in mid-2014 for these assets which have been mostly cash flow positive since. Given the current market conditions in Canada we consider this good value.

Finally, Jet Vac operations on LAK Ranch heavy oil field in Wyoming were completed at the end of March.  While results were mixed, a lot of valuable data was acquired.  Based on the analysis of this data, it was decided to expand the current initial pilot hot water flood project to include an additional 2 injector wells to increase sweep efficiency.  The expanded hot water flood is currently being implemented. Initial results continue to be encouraging.

We thank you for your continued support.

Jonas Lindvall
Managing Director and CEO

Adviser

FNCA Sweden AB is the Company's Certified Adviser.

For more information, please contact:

Jonas Lindvall (CEO)
Tel: +1 403 454 7560        
Email: jonas@mahaenergy.ca

or

Ron Panchuk (CCO)

Tel: +1 403 454 7560        
Email: ron@mahaenergy.ca

Miscellaneous

This information is published in accordance with the EU Market Abuse Regulation and/or the Swedish Financial Instruments Trading Act. The information was submitted for publication through the agency of the contact persons set out above on June 1, 2017, at 7:00 pm CET.

Maha in Brief

Maha Energy AB is a Swedish public limited liability company. FNCA Sweden AB has been engaged as Certified Adviser. The Company's auditors are Deloitte. The Company's predecessor Maha Energy Inc. was founded in 2013 in Calgary, Canada, by Jonas Lindvall and Ron Panchuk. In May 2016, the new group was formed with Maha Energy AB as parent company for purposes completing an initial public offering on the Nasdaq First North Sweden stock exchange. Jonas Lindvall, CEO and Managing Director, has 26 years of international experience in the oil and gas industry, starting his career with Lundin Oil during the early days of E&P growth.  After 6 years at Shell and Talisman, Jonas joined, and helped secure the success of, Tethys Oil AB. Maha's strategy is to target and develop underperforming hydrocarbon assets on global basis. The Company operates two oil fields, Tartaruga in Brazil and LAK Ranch, in Wyoming, U.S. For more information, please visit our website www.mahaenergy.ca.

Important Information

Publication or distribution, directly or indirectly, of this press release could in some jurisdictions be subject to restrictions according to law and recipients of this press release, or part of it, are required to inform themselves of, and comply with, such legal restrictions. This press release is not for release, publication or distribution, directly or indirectly, in or into Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa, Switzerland or the United States, or in any other jurisdiction where distribution of this press release could be illegal or subject to legal restrictions. Copies of this press release are not being made and may not be distributed or sent, in whole, or part, directly or indirectly, in violation of such restrictions. Failure to comply with such restrictions may constitute a criminal act under the United States Securities Act of 1933 (as amended) ("Securities Act") or applicable laws in other jurisdictions.

Maha Financials Q1 2017
Maha Energy AB Press Release – Q1 2017 Financials(2)

—
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Maha Energy AB via Globenewswire

Maha Financials Q1 2017

Maha Energy AB Press Release - Q1 2017 Financials(2)

Press release

Stockholm

May 23, 2017

This press release is not for release, publication or distribution, directly or indirectly, in or into Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa, Switzerland or the United States, or in any other jurisdiction where distribution of this press release could be illegal or subject to legal restrictions.

Maha Energy AB publishes supplementary prospectus in relation to fully guaranteed rights issue

The board of directors of Maha Energy AB (publ) ("Maha" or the "Company") has prepared a supplementary prospectus (the "Supplementary Prospectus") to the prospectus for the invitation to subscribe for shares (the "Rights Issue") which was approved by and registered with the Swedish Financial Supervisory Authority (Sw. Finansinspektionen) on May 15, 2017.

The Supplementary Prospectus has been prepared as a result of two separate press releases made public by the Company during the subscription period of the Rights Issue. The press releases were made public on May 17, 2017 and May 22, 2017 respectively. The first press release contained information on the decision to issue senior secured bonds as part of a fully subscribed bond financing totaling SEK 300,000,000 under a framework amount of SEK 500,000,000 along with a total of 13,350,000 detachable warrants for class A shares of the Company. The second press release contained information on receipt of approvals for the acquisition of Gran Tierra's Brazilian operations from the Brazilian authorities (Agencia Nacional do Petroleo, Gas Natural e Biocombustiveis of Brazil, "ANP").

The Supplementary Prospectus, which has been approved by and registered with the Swedish Financial Supervisory Authority, constitutes a part of, and shall be read together with, the Prospectus. The Prospectus and the Supplementary Prospectus are kept available at the Company's website www.mahaenergy.ca, on Stockholm Corporate Finance's website, www.stockholmcorp.se, on Aqurat's website, www.aqurat.se, and will also be kept available on the Swedish Financial Supervisory Authority's website, www.fi.se.

Investors who have applied for, or in any other way consented to acquire securities comprised by a prospectus, before a supplementary prospectus is made available to the public, have the right to withdraw their application or consent within two business days from the day a supplementary prospectus is made public in accordance with Chapter 2, section 34 of the Swedish Financial Instruments Trading Act (Sw. lagen (1991:980) om handel med finansiella instrument). Any withdrawals as a result of this Supplementary Prospectus shall be possible until and including May 26, 2017. Such withdrawal must be made in writing to Aqurat Fondkommission AB, issue: Maha Energy AB, P.O. Box 7461, SE-103 92 Stockholm. Investors who have applied for subscription of securities through a nominee should contact their nominee regarding withdrawal. Applications that are not withdrawn will remain binding and those investors who wish to remain with their application on subscription of shares do not need to take any action.

For complete terms and conditions and other information regarding the Rights Issue, please refer to the Prospectus which together with the Supplementary Prospectus are kept available at the Company's website www.mahaenergy.ca.

Advisers

Stockholm Corporate Finance AB acts as financial adviser and Setterwalls Advokatbyrå AB acts as legal adviser (as to Swedish law) to the Company in connection with the Rights Issue. FNCA Sweden AB is the Company's Certified Adviser.

For more information, please contact:

Jonas Lindvall (CEO)
Tel: +1 403 454 7560        
Email: jonas@mahaenergy.ca

or

Ron Panchuk (COO)

Tel: +1 403 454 7560        
Email: ron@mahaenergy.ca

Miscellaneous

This information is published in accordance with the EU Market Abuse Regulation and the Swedish Financial Instruments Trading Act. The information was submitted for publication through the agency of the contact persons set out above on May 23, 2017, at 5:30 p.m. CET.

Maha in Brief  
Maha Energy AB is a Swedish public limited liability company. FNCA Sweden AB has been engaged as Certified Adviser. The Company's auditors are Deloitte. The Company's predecessor Maha Energy Inc was founded in 2013 in Calgary, Canada, by Jonas Lindvall and Ron Panchuk. In May 2016, the new group was formed with Maha Energy AB as parent company for purposes completing an initial public offering on the Nasdaq First North Sweden stock exchange. Jonas Lindvall, CEO and Managing Director, has 26 years of international experience in the oil and gas industry, starting his career with Lundin Oil during the early days of E&P growth.  After 6 years at Shell and Talisman, Jonas joined, and helped secure the success of, Tethys Oil AB. Maha's strategy is to target and develop underperforming hydrocarbon assets on global basis. The Company operates two oil fields, Tartaruga in Brazil and LAK Ranch, in Wyoming, U.S. For more information, please visit our website www.mahaenergy.ca.

Important Information
This document has not been approved by any regulatory authority. The document is a press release and not a prospectus and investors should not subscribe for or purchase securities referred to in this document except on the basis of information contained in the Prospectus, including the Supplementary Prospectus, approved by the Swedish Financial Supervisory Authority and kept available at the Company's website. Distribution of this press release could in some jurisdictions be subject to restrictions according to law and recipients of this, or part of this, are required to inform themselves of, and comply with, such legal restrictions. Information in this press release should not constitute an offer to sell securities, or a solicitation of any offer to purchase securities, nor should any sale of the securities referred to herein be made, in any jurisdiction where such offer, solicitation of any offer to purchase, or sale would require preparing additional prospectuses or other offering documents, or would not be lawful without registration or applicable exemptions from registering according to security acts in any such jurisdiction.

This press release neither constitutes, nor constitutes a part of, an offer or a solicitation of an offer to purchase or subscribe for securities in the United States. Securities referred to herein have not been, and will not be, registered in accordance with the American Securities Act of 1933 ("Securities Act"), and may not be offered or sold within the United States absent registration in accordance with the Securities Act, or an exemption therefrom. Securities referred to herein are not offered to the general public in the United States. Copies of this press release is not being made and may not be distributed or sent, in whole, or part, directly or indirectly, in or into Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa, Switzerland or the United States or to any other jurisdiction where the distribution respectively the issuance of this press release should be unlawful.

Maha Press Release-Publication of supplementary prospectus

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This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Maha Energy AB via Globenewswire

Maha Press Release-Publication of supplementary prospectus

Maha Energy AB Announces the Approvals for the Acquisition of Gran Tierra's Brazilian Operations have been Received from ANP

May 22th, 2017

Approvals for Acquisition of Gran Tierra's Brazilian Operations Received from ANP

Maha Energy AB ("Maha" or the "Company") (NASDAQ OMX First North: MAHA A) is pleased to announce that the Agencia Nacional do Petroleo, Gas Natural e Biocombustiveis of Brazil ("ANP") has provided all approvals necessary for the completion of the acquisition of the Brazil business unit of Gran Tierra Energy Inc. ("Gran Tierra") (NYSE MKT:GTE)(TSX:GTE) through the purchase of all of the shares and outstanding intercompany debt of Gran Tierra Finance (Luxembourg) S.Á.R.L., by Maha  (the "Acquisition"). Closing of the Acquisition remains subject to completion of a previously announced financing by Maha and other closing conditions standard for similar transactions. Upon closing, Maha will own and operate, through a 100%-owned subsidiary, the 100% working interests in six concession agreements located in the Reconcavo Basin of Brazil comprising 41,606 gross acres with average production expected to be 1,200 – 1,500 boepd in 2017.

"The Acquisition represents a unique opportunity to further grow Maha's position in Brazil.  It will provide Maha an immediate cash-flowing production base that can be readily grown through low-risk development initiatives, which will be complementary to our Tartaruga asset in Brazil and LAK Ranch asset in Wyoming, U.S.," stated Jonas Lindvall, CEO of Maha.

Advisers

Stockholm Corporate Finance AB acts as financial adviser and Setterwalls Advokatbyrå AB acts as legal adviser (as to Swedish law) to Maha in connection with the previously communicated rights issue. FNCA Sweden AB is the Company's Certified Adviser.

For more information, please contact:

Jonas Lindvall (CEO)

Tel:  +1 403 454 7560
Email:  jonas@mahaenergy.ca

or

Ron Panchuk

Tel:  +1 403 454 7560
Email:  ron@mahaenergy.ca

Miscellaneous

This information is published in accordance with the EU Market Abuse Regulation and/or the Swedish Financial Instruments Trading Act.  The information was submitted for publication through the agency of the contact persons set out above on 22 May 2017, at 8:00 AM CET.

Maha in Brief

Maha Energy AB is a Swedish public limited liability company.  FNCA Sweden AB has been engaged as Certified Adviser.  The Company's auditors are Deloitte.  The Company's predecessor Maha Energy Inc was founded in 2013 in Calgary, Canada, by Jonas Lindvall and Ron Panchuk. In May 2016, the new group was formed with Maha Energy AB as parent company for purposes completing an initial public offering on the NASDAQ OMX First North Sweden stock exchange.  Jonas Lindvall, CEO and Managing Director, has 26 years of international experience in the oil and gas industry, starting his career with Lundin Oil during the early days of E&P growth.  After 6 years at Shell and Talisman, Jonas joined, and helped secure the success of, Tethys Oil AB.  Maha's strategy is to target and develop underperforming hydrocarbon assets on global basis. The Company operates two oil fields, Tartaruga in Brazil and LAK Ranch, in Wyoming, U.S.  For more information, please visit our website www.mahaenergy.ca.

Important Information

This press release does not contain or constitute an invitation or an offer to acquire, subscribe for or otherwise trade in shares, subscription rights or other securities in Maha Energy AB (publ).  Publication or distribution, directly or indirectly, of this press release could in some jurisdictions be subject to restrictions according to law and recipients of this press release, or part of it, are required to inform themselves of, and comply with, such legal restrictions.  This press release is not for release, publication or distribution, directly or indirectly, in or into Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa, Switzerland or the United States, or in any other jurisdiction where distribution of this press release could be illegal or subject to legal restrictions.  Copies of this press release are not being made and may not be distributed or sent, in whole, or part, directly or indirectly, in violation of such restrictions.  Failure to comply with such restrictions may constitute a criminal act under the United States Securities Act of 1933 (as amended) ("Securities Act") or applicable laws in other jurisdictions.

Maha Press Release Approvals

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This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Maha Energy AB via Globenewswire

Maha Press Release Approvals

Press release

Stockholm

May 17th, 2017

This press release is not for release, publication or distribution, directly or indirectly, in or into Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa, Switzerland or the United States, or in any other jurisdiction where distribution of this press release could be illegal or subject to legal restrictions.

Maha Energy AB: Completes SEK 300,000,000 Bond Financing

Maha Energy AB (publ) ("Maha" or the "Company") is pleased to announce:

Further to the Company's Press Release of 16th May 2017, the Company has today agreed to issue senior secured bonds ("Bonds") as part of a fully subscribed bond financing totaling SEK 300,000,000 under a framework amount of SEK 500,000,000.  The Bonds have a term of four years; have a fixed interest rate coupon of 12% per annum;and are issued along with a total of 13,350,000 detachable warrants for Class A shares of the Company ("Warrant(s)").  Each Warrant has a strike price of SEK 7.45 and a warrant period of four years.

The proceeds of the Bonds will be used to finance the previously announced acquisition of GTE's Brazilian operations.  As a term of the Bond, Maha intends to list the bonds on Nasdaq Stockholm and the warrants on Nasdaq Stockholm or First North.

Advisers

Arctic Securities AS filial Sverige acts as financial advisor and sole bookrunner and Roschier Advokatbyrå AB acts as legal advisor for the bond issue. Stockholm Corporate Finance AB acts as financial adviser and Setterwalls Advokatbyrå AB acts as legal adviser (as to Swedish law) to Maha in connection with the previously communicated rights issue.  FNCA Sweden AB is the Company's Certified Adviser.

For more information, please contact:

Jonas Lindvall (CEO)

Tel: +1 403 454 7560        
Email: jonas@mahaenergy.ca

or

Ron Panchuk (COO)

Tel: +1 403 454 7560        
Email: ron@mahaenergy.ca

Miscellaneous

This information is published in accordance with the EU Market Abuse Regulation and/or the Swedish Financial Instruments Trading Act. The information was submitted for publication through the agency of the contact persons set out above on May 17th, 2017, at 8:00 a.m.  CET.

Maha in Brief

Maha Energy AB is a Swedish public limited liability company. FNCA Sweden AB has been engaged as Certified Adviser. The Company's auditors are Deloitte. The Company's predecessor Maha Energy Inc. was founded in 2013 in Calgary, Canada, by Jonas Lindvall and Ron Panchuk. In May 2016, the new group was formed with Maha Energy AB as parent company for purposes completing an initial public offering on the Nasdaq First North Sweden stock exchange. Jonas Lindvall, CEO and Managing Director, has 25 years of international experience in the oil and gas industry, starting his career with Lundin Oil during the early days of E&P growth.  After 6 years at Shell and Talisman, Jonas joined, and helped secure the success of, Tethys Oil AB. Maha's strategy is to target and develop underperforming hydrocarbon assets on global basis. The Company operates two oil fields, Tartaruga in Brazil and LAK Ranch, in Wyoming, U.S. For more information, please visit our website www.mahaenergy.ca.

Important Information

This press release does not contain or constitute an invitation or an offer to acquire, subscribe for or otherwise trade in shares, subscription rights, warrants, bonds or other securities in Maha Energy AB (publ). Publication or distribution, directly or indirectly, of this press release could in some jurisdictions be subject to restrictions according to law and recipients of this press release, or part of it, are required to inform themselves of, and comply with, such legal restrictions. This press release is not for release, publication or distribution, directly or indirectly, in or into Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa, Switzerland or the United States, or in any other jurisdiction where distribution of this press release could be illegal or subject to legal restrictions. Copies of this press release are not being made and may not be distributed or sent, in whole, or part, directly or indirectly, in violation of such restrictions. Failure to comply with such restrictions may constitute a criminal act under the United States Securities Act of 1933 (as amended) ("Securities Act") or applicable laws in other jurisdictions.

Maha Press Release Bond Up date

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This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Maha Energy AB via Globenewswire

Maha Press Release Bond Up date

Press release

Stockholm

May 16th, 2017

This press release is not for release, publication or distribution, directly or indirectly, in or into Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa, Switzerland or the United States, or in any other jurisdiction where distribution of this press release could be illegal or subject to legal restrictions.

Maha Energy AB: Provides Up-date on Bond Financing

Maha Energy AB (publ) (the "Company") is pleased to provide the following update:

Further to the Company's Press Release dated 13 February, 2017 and 6 April, 2017  concerning the Company's proposed bond financing (the "Bond") to be used to finance the previously announced acquisition of the GTE's Brazilian operations, the Company is pleased to provide the following up-date:  a) the Company has experienced strong investor demand in its three week pre-marketing;  b) the Company has had commercial discussions with potential cornerstone Bond investors on the terms of the Bond which may include a fixed rate in the range of 10% – 14% coupon and detachable warrants on Class A shares in the Company;  and c) the Company will tomorrow  launch the formal marketing of a SEK denominated senior secured bond issue that is expected to close in the next few days.

The Company will provide an update on the results of the Bond issue as soon as they are known.

Advisers

Arctic Securities AS acts as financial advisor to Maha and Roschier Advokatbyrå AB as legal advisor for the bond issue. Stockholm Corporate Finance AB acts as financial adviser and Setterwalls Advokatbyrå AB acts as legal adviser (as to Swedish law) to Maha in connection with the previously communicated rights issue. FNCA Sweden AB is the Company's Certified Adviser.

For more information, please contact:

Jonas Lindvall (CEO)

Tel: +1 403 454 7560        
Email: jonas@mahaenergy.ca

or

Ron Panchuk (COO)

Tel: +1 403 454 7560        
Email: ron@mahaenergy.ca

Miscellaneous

This information is published in accordance with the EU Market Abuse Regulation and/or the Swedish Financial Instruments Trading Act. The information was submitted for publication through the agency of the contact persons set out above on May 16th, 2017, at 09:00 a.m. CET.

Maha in Brief

Maha Energy AB is a Swedish public limited liability company. FNCA Sweden AB has been engaged as Certified Adviser. The Company's auditors are Deloitte. The Company's predecessor Maha Energy Inc. was founded in 2013 in Calgary, Canada, by Jonas Lindvall and Ron Panchuk. In May 2016, the new group was formed with Maha Energy AB as parent company for purposes completing an initial public offering on the Nasdaq First North Sweden stock exchange. Jonas Lindvall, CEO and Managing Director, has 25 years of international experience in the oil and gas industry, starting his career with Lundin Oil during the early days of E&P growth.  After 6 years at Shell and Talisman, Jonas joined, and helped secure the success of, Tethys Oil AB.  Maha's strategy is to target and develop underperforming hydrocarbon assets on global basis. The Company operates two oil fields, Tartaruga in Brazil and LAK Ranch, in Wyoming, U.S. For more information, please visit our website www.mahaenergy.ca.

Important Information

This press release does not contain or constitute an invitation or an offer to acquire, subscribe for or otherwise trade in shares, subscription rights or other securities in Maha Energy AB (publ). Any invitation to the persons concerned to subscribe for shares in Maha Energy AB (publ) will only be made through the prospectus that Maha Energy AB (publ) intends to publish. Publication or distribution, directly or indirectly, of this press release could in some jurisdictions be subject to restrictions according to law and recipients of this press release, or part of it, are required to inform themselves of, and comply with, such legal restrictions. This press release is not for release, publication or distribution, directly or indirectly, in or into Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa, Switzerland or the United States, or in any other jurisdiction where distribution of this press release could be illegal or subject to legal restrictions. Copies of this press release are not being made and may not be distributed or sent, in whole, or part, directly or indirectly, in violation of such restrictions. Failure to comply with such restrictions may constitute a criminal act under the United States Securities Act of 1933 (as amended) ("Securities Act") or applicable laws in other jurisdictions.

Maha Press Release Bond Up date

—
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Maha Energy AB via Globenewswire

Maha Press Release Bond Up date

Press release

Stockholm

May 15, 2017

This press release is not for release, publication or distribution, directly or indirectly, in or into Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa, Switzerland or the United States, or in any other jurisdiction where distribution of this press release could be illegal or subject to legal restrictions.

Maha Energy AB publishes prospectus in relation to fully guaranteed rights issue

The board of directors of Maha Energy AB (publ) ("Maha" or the "Company") has prepared a prospectus in relation to the fully guaranteed rights issue with preferential rights for shareholders and warrant holders, decided by the board of directors and communicated through a press release on April 20, 2017.

The prospectus has today been approved by and registered with the Swedish Financial Supervisory Authority (Sw. Finansinspektionen). The prospectus is available for download on the Company's website, www.mahaenergy.ca, on Stockholm Corporate Finance's website, www.stockholmcorp.se, on Aqurat's website, www.aqurat.se, and will also be available on the Swedish Financial Supervisory Authority's website, www.fi.se.

Timetable for rights issue

16 May – 26 May               Trading in subscription rights

16 May – 30 May               Subscription period

2 June                              Estimated date for announcement of outcome of the rights issue

Advisers

Stockholm Corporate Finance AB acts as financial adviser and Setterwalls Advokatbyrå AB acts as legal adviser (as to Swedish law) to the Company in connection with the Rights Issue. FNCA Sweden AB is the Company's Certified Adviser.

For more information, please contact:

Jonas Lindvall (CEO)
Tel: +1 403 454 7560        
Email: jonas@mahaenergy.ca

or

Ron Panchuk (COO)

Tel: +1 403 454 7560        
Email: ron@mahaenergy.ca

Miscellaneous

This information is published in accordance with the EU Market Abuse Regulation and the Swedish Financial Instruments Trading Act. The information was submitted for publication through the agency of the contact persons set out above on May 15, 2017, at 6:30 p.m. CET.

Maha in Brief  
Maha Energy AB is a Swedish public limited liability company. FNCA Sweden AB has been engaged as Certified Adviser. The Company's auditors are Deloitte. The Company's predecessor Maha Energy Inc. was founded in 2013 in Calgary, Canada, by Jonas Lindvall and Ron Panchuk. In May 2016, the new group was formed with Maha Energy AB as parent company for purposes completing an initial public offering on the Nasdaq First North Sweden stock exchange. Jonas Lindvall, CEO and Managing Director, has 26 years of international experience in the oil and gas industry, starting his career with Lundin Oil during the early days of E&P growth.  After 6 years at Shell and Talisman, Jonas joined, and helped secure the success of, Tethys Oil AB. Maha's strategy is to target and develop underperforming hydrocarbon assets on global basis. The Company operates two oil fields, Tartaruga in Brazil and LAK Ranch, in Wyoming, U.S. For more information, please visit our website www.mahaenergy.ca.

Important Information
This document has not been approved by any regulatory authority. The document is a press release and not a prospectus and investors should not subscribe for or purchase securities referred to in this document except on the basis of information contained in the prospectus approved by the Swedish Financial Supervisory Authority and that can be downloaded at the Company's website. Distribution of this press release could in some jurisdictions be subject to restrictions according to law and recipients of this, or part of this, are required to inform themselves of, and comply with, such legal restrictions. Information in this press release should not constitute an offer to sell securities, or a solicitation of any offer to purchase securities, nor should any sale of the securities referred to herein be made, in any jurisdiction where such offer, solicitation of any offer to purchase, or sale would require preparing additional prospectuses or other offering documents, or would not be lawful without registration or applicable exemptions from registering according to security acts in any such jurisdiction.

This press release neither constitutes, nor constitutes a part of, an offer or a solicitation of an offer to purchase or subscribe for securities in the United States. Securities referred to herein have not been, and will not be, registered in accordance with the American Securities Act of 1933 ("Securities Act"), and may not be offered or sold within the United States absent registration in accordance with the Securities Act, or an exemption therefrom. Securities referred to herein are not offered to the general public in the United States. Copies of this press release is not being made and may not be distributed or sent, in whole, or part, directly or indirectly, in or into Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa, Switzerland or the United States or to any other jurisdiction where the distribution respectively the issuance of this press release should be unlawful.

Maha Press Release-Publication of prospectus

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This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Maha Energy AB via Globenewswire

Maha Press Release-Publication of prospectus

Press release

Stockholm

April 20, 2017

This press release is not for release, publication or distribution, directly or indirectly, in or into Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa, Switzerland or the United States, or in any other jurisdiction where distribution of this press release could be illegal or subject to legal restrictions.

Maha Energy AB Announces new timetable for the upcoming fully guaranteed Rights Issue in Maha Energy AB

On April 6, 2017 the Company announced adjusted terms to the upcoming Rights Issue in Maha Energy AB to the original announcement dated 13 February, 2017. On 12 April, 2017 the Company announced a delay to the Rights Issue schedule due to certain unforeseen delays. The board of directors has now decided on an adjusted timetable as set forth below. Besides the timetable, the principal terms remain the same as earlier communicated on 6 April, 2017. Existing holders of A-shares, B-shares and C2-shares and warrant holders of the Company will receive rights to subscribe for new A-shares in proportion to the shares and warrants held on the record date of participation of 12 May, 2017.

Timetable for Rights Issue

10 May                                Last day of trading inclusive subscription rights

12 May                                Record date for participation in the Rights Issue

15 May                                Estimated date for publication of the prospectus

16 May – 26 May               Trading in subscription rights

16 May – 30 May                Subscription period

2 June                                  Estimated date for announcement of outcome of the Rights Issue

Background and reasons

On February 6, 2017 Maha agreed to acquire the Brazil business unit of Gran Tierra Energy Inc. ("Gran Tierra") for a cash consideration of USD 35 million, subject to closing adjustments (the "Acquisition") and the assumption of certain letters of credit and bonds in the approximate amount of USD 11 million. The Acquisition means that Maha will own and operate the 100% working interest in six concession agreements located in the Reconcavo Basin of Brazil comprising 41,606 gross acres with average production expected to be 1,200 – 1,500 boepd in 2017. Closing of the Acquisition is subject to receiving the approval of the Acquisition from the Agencia Nacional do Petroleo, Gas Natural e Biocombustiveis of Brazil, completion of a financing by Maha and other closing conditions standard for similar transactions.

Maha has provided Gran Tierra a cash deposit of $3.5 million and is required to deposit into escrow the remaining cash consideration of $31.5 million on or before June 1, 2017. On February 6, 2017 a fully committed directed share issue of 12,919,326 Maha A-shares at a subscription price of SEK 7.10 (the "Directed Share Issue") was resolved upon which gave Maha gross proceeds of SEK 91,727,214.60 (approximately $10.5 million). A debt financing of a minimum gross proceeds of SEK 300 – 350 million is planned to take place on or before June 1, 2017, the details of which have already been made public. In order to finance the Acquisition, the Company's board of directors under the authority of the latest general meeting, has also resolved on the Rights Issue with the adjusted principal terms set forth below.

Reason for the delay

As set out in the Press Release dated April 12, 2017, the Company encountered unforeseen delays which in turn delayed final approvals of the Prospectus for the Rights Offering.  The Company sincerely regrets and apologizes for any inconvenience this has caused its shareholders. The Company believes the new timetable announced herein reflects a more realistic time frame for the Company to complete the Prospectus, properly inform the market and progress its debt financing activities.

Guarantee Undertakings

The Rights Issue is fully guaranteed by the following existing shareholders and external guarantors: Kvalitena AB (publ), Invium Partners AB, Pervasive Capital AB, Phantome de Genolier AB, City Capital Partners AB, Litcap AB and LMK Venture Partners AB.

Change in financial calendar

As a result of the adjusted timetable for the Rights Issue, the interim financial report with respect to the time period January 1, 2017 – March 31, 2017 (Q1) will be made public on May 31, 2017 instead of May 30, 2017 (as previously stated on the Company's website).

Advisers

Stockholm Corporate Finance AB acts as financial adviser and Setterwalls Advokatbyrå AB acts as legal adviser (as to Swedish law) to Maha in connection with the Rights Issue. FNCA Sweden AB is the Company's Certified Adviser.

For more information, please contact:        
Jonas Lindvall (CEO)
Tel: +1 403 454 7560        
Email: jonas@mahaenergy.ca

Or

Ron Panchuk (COO)

Tel: +1 403 454 7560        
Email: ron@mahaenergy.ca

Miscellaneous

This information is published in accordance with the EU Market Abuse Regulation and/or the Swedish Financial Instruments Trading Act. The information was submitted for publication through the agency of the contact persons set out above on April 20, 2017, at 5:31 p.m. CET.

Maha in Brief

Maha Energy AB is a Swedish public limited liability company. FNCA Sweden AB has been engaged as Certified Adviser. The Company's auditors are Deloitte. The Company's predecessor Maha Energy Inc was founded in 2013 in Calgary, Canada, by Jonas Lindvall and Ron Panchuk. In May 2016, the new group was formed with Maha Energy AB as parent company for purposes completing an initial public offering on the Nasdaq First North Sweden stock exchange. Jonas Lindvall, CEO and Managing Director, has 26 years of international experience in the oil and gas industry, starting his career with Lundin Oil during the early days of E&P growth.  After 6 years at Shell and Talisman, Jonas joined, and helped secure the success of, Tethys Oil AB. Maha's strategy is to target and develop underperforming hydrocarbon assets on global basis. The Company operates two oil fields, Tartaruga in Brazil and LAK Ranch, in Wyoming, U.S. For more information, please visit our website www.mahaenergy.ca.

Important Information

This press release does not contain or constitute an invitation or an offer to acquire, subscribe for or otherwise trade in shares, subscription rights or other securities in Maha Energy AB (publ). Any invitation to the persons concerned to subscribe for shares in Maha Energy AB (publ) will only be made through the prospectus that Maha Energy AB (publ) intends to publish. Publication or distribution, directly or indirectly, of this press release could in some jurisdictions be subject to restrictions according to law and recipients of this press release, or part of it, are required to inform themselves of, and comply with, such legal restrictions. This press release is not for release, publication or distribution, directly or indirectly, in or into Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa, Switzerland or the United States, or in any other jurisdiction where distribution of this press release could be illegal or subject to legal restrictions. Copies of this press release are not being made and may not be distributed or sent, in whole, or part, directly or indirectly, in violation of such restrictions. Failure to comply with such restrictions may constitute a criminal act under the United States Securities Act of 1933 (as amended) ("Securities Act") or applicable laws in other jurisdictions.

Maha Press Release-Revised Schedule

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This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Maha Energy AB via Globenewswire

Maha Press Release-Revised Schedule