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Maha Energy AB: Announces Sale of Canadian Assets

on 12 de February de 2017 12 de February de 2017

Maha Energy AB (publ)

Biblioteksgatan 1

SE-111 46 Stockholm

www.mahaenergy.ca

Press release

Stockholm

12th February 2017

Maha Energy AB (publ) ("Maha" or the "Company") Announces Sale of Canadian Assets

Sale of Canadian Assets

Maha has agreed a Purchase and Sale Agreement with Petrocapita Oil and Gas L.P. ("Petrocapita") pursuant to which Maha will sell to Petrocapita its entire interest in the Manitou and Marwayne properties (the "Canadian Assets") for a total of CAD$1.65 million. The consideration is payable in two parts: (a) cash payment of a total of CAD $750,000 to be paid over 9 months commencing March 15, 2017 and (b) the balance by convertible Debenture granted by Petrocapita Income Trust, the parent of Petrocapita (the "Trust") maturing December 1, 2023 (the "Debenture"). Under the Debenture arrangement, the Trust pays annual interest on the outstanding balance at 6%; and Maha may convert the outstanding balance at any time after December 31, 2017 to publically traded Trust Units based on the 20 day volume weighted average trading price of the Unit at the time of conversion. The outstanding balance will be secured by a registered charge on the Canadian Assets. The Trust is publically listed on TSX Venture Exchange and trades under the symbol "PCE-U:CN". The Canadian Assets, net of abandonment liabilities, have a book value of zero.

The Canadian Assets were originally purchased as part of a much larger proposed acquisition in 2014 that was not closed due to the substantial decline in oil prices during the third quarter of 2014. In February 2015 the then Operator ("Palliser") went into Receivership and as result no capital has been spent since. Petrocapita purchased Palliser from the Receiver Manager in May, 2016. Since the Canadian Assets are non-operated and small in comparison to Maha's other assets, it is in the best interest of the Company to divest these assets in order to focus on Brazil and Wyoming.

Jonas Lindvall, Maha's CEO commented:

"We have taken the decision to divest out of our non-operated Canadian operations in order to concentrate on our higher impact properties in South America. The low oil prices have impacted the Canadian assets hard and we can deploy the proceeds from the sale in areas where it can have a much higher impact. Under the current market conditions, the sale to Petrocapita is at a favorable price and on reasonable terms. We wish them every success with these assets."

For more information, please contact:

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

Ron Panchuk

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 12th February 2017, at 08:01 CET.

Maha in Brief

Maha Energy AB is a Swedish public limited liability company. Setterwalls Advokatbyrå AB acts as legal adviser to the 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 of the Offering and the planned listing. 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, US. 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 Energy AB Press Release Canadian Assets

—
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 Energy AB Press Release Canadian Assets

Maha Energy AB: Announces the Acquisition of Gran Tierra’s Brazilian Operations, a Fully Committed Directed Share Issue of SEK 91.7 MM, and a Fully Guaranteed Rights Offering of SEK 91.7 MM

on 6 de February de 2017 6 de February de 2017

Maha Energy AB (publ)

Biblioteksgatan 1

SE-111 46 Stockholm

www.mahaenergy.ca

Press release
Stockholm
6 February 2017

Maha Energy AB Announces the Acquisition of Gran Tierra's Brazilian Operations, a Fully Committed Directed Share Issue of SEK 91.7 MM, and a Fully Guaranteed Rights Offering of SEK 91.7 MM

Acquisition of Gran Tierra's Brazilian Operations

Maha Energy AB ("Maha" or the "Company") (NASDAQ OMX First North: MAHA A) is pleased to announce that it has entered into an agreement to acquire 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[1] of Gran Tierra Finance (Luxembourg) S.Á.R.L., including assumed liabilities involved with the going-concern operations, for a cash consideration of $35 million[2], subject to closing adjustments (the "Acquisition"). Upon closing, Maha will own and operate, through a 100%-owned subsidiary, the 100% working interests in six concession agreements located[3],[4] in the Reconcavo Basin of Brazil comprising 41,606 gross acres with average production expected to be 1,200 – 1,500 boepd in 2017[5]. 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 ("ANP"), completion of a financing by Maha, and other closing conditions standard for similar transactions.

"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.

"The acquisition of a low-risk, producing asset close to our existing Tartaruga Field is a strategically important milestone for Maha. This will provide a very solid foundation upon which to grow the Company," stated Wayne Thomson, Chairman of the Board of the Company.

Below are certain transaction highlights relating to the transaction.

Key Transaction Highlights2

10.2 MMboe of 2P Reserves3associated with the Tie Field
- Estimated NPV (10%) of 2P reserves: $188 million before tax3
- 91% light oil (38° API)[6]
- 1P reserves of 7.7 MMboe3 represent 75% of 2P Reserves
Attractive operating netbacks of $22.77 per Boe (Q3 2016)
- Operating expenses of $9.74 per Boe and transportation expenses of $1.70 per Boe (Q3 2016)
- Competitive fiscal regime
Maha management estimates 2017 average WI production to be 1,200 – 1,500 boepd5
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 MMboe5
Operating synergies and administrative savings with existing Brazilian assets of Maha at Tartaruga

Deposit

Maha has provided Gran Tierra a cash deposit ("Initial Deposit") of $3.5 million which is non-refundable in certain circumstances, including if the Company has not deposited into escrow the remaining cash consideration of $31.5 million on or before June 1, 2017 or has not provided a further cash deposit ("Second Deposit") of $1.5 million by such date. If the Second Deposit is paid, the Company is required to place into escrow the remaining cash consideration of $30 million by August 1, 2017. The $35 million purchase price will be released upon all closing conditions being satisfied, including receiving the approval of the Acquisition from ANP.

Financing of the Transaction

To complete the Acquisition, Maha will be required to pay cash consideration of $35 million and arrange financial guarantees (letters of credit or surety bonds) for certain work commitments totalling approximately $12 million. The Acquisition will be financed through a fully committed Directed Share Issue of SEK 91,727,214.60 (approximately $10.5 million)[7] (see below). A Rights Issue with pre-emption rights for existing shareholders (see below) will be performed on or before June 1, 2017 corresponding to 12,919,326 shares at the same price (SEK 7.10 per share) as the Directed Share Issue totalling SEK 91,727,214.60 (together with the Directed Share Issue a total of SEK 183.4 million, approximately $21 million). This pricing reflects an approximately 19.9 percent discount from the five day, volume weighted average price of the Class A Shares for the period up to and including February 1, 2017. The Rights Issue is 100% guaranteed by a consortium consisting of Kvalitena AB (SEK 40 million) and LMK Venture Partners AB (SEK 18.3 million) among others. 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 will be announced shortly.

Directed Share Issue of SEK 92 Million

The Company, through lead finance adviser, Stockholm Corporate Finance, has secured a Directed Share Issue of 12,919,326 Maha A shares at a share price of SEK 7.10 for gross proceeds of SEK 91,727,214.60 (approximately $10.5 million).

The following parties have committed to subscribe in the Directed Share Issue: Kvalitena AB (publ), Invium Partners AB, Pervasive Capital AB, Nerthus Investments Ltd., Erik Penser Bank AB, Litcap AB and City Capital Partners AB. These subscribers have committed contractually to not subscribe for such number of shares to be issued in the Rights Issue or use any such Rights (see below) that corresponds to the number of shares subscribed by each subscriber in the Directed Share Issue. The Directed Share Issue is expected to be completed within the next few days.

Fully Guaranteed Rights Issue of SEK 92 Million In Place

The Company will also arrange, through Stockholm Corporate Finance, a Rights Issue of 12,919,326 Maha A shares at a share price of SEK 7.10 for gross proceeds of SEK 91,727,214.60. The Rights Issue has been 100 percent guaranteed through a guarantee consortium consisting of the following 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. The Guaranteed Rights Issue is anticipated to commence March 15, 2017. The principal terms for the Rights Issue and a detailed timetable will be announced in a subsequent press release.

Advisers

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

For more information, please contact:

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

Ron Panchuk
Tel: +1 403 454 1564
Email: ron@mahaenergy.ca

Miscellaneous

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 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 by the beginning of March 2017. 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.

—

[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 February 2017 posted on www.grantierra.com

[4] The Brazilian operations of Gran Tierra currently comprise seven concession agreements. One concession is in the process of being relinquished which is expected to be completed before the closing date

[5] Maha management estimate

[6] Based on Gran Tierra December 31, 2015 annual reserves disclosure

[7] Based on February 2, 2017 exchange rate of 0.114 US Dollars per 1 SEK

Maha Energy AB Press Release February 6 2017

Maha Energy AB: Maha Energy in negotiations regarding a potential Acquisition which will be financed through share issues

on 3 de February de 2017 3 de February de 2017

Maha Energy in negotiations regarding a potential Acquisition which will be financed through share issues

February 3, 2017

Maha Energy AB ("Maha" or the "Company") is in late stage negotiations regarding a potential acquisition. Since there are indications that this information may have leaked, the Company has decided to issue this announcement.

Maha anticipates entering a binding agreement regarding the acquisition in place through the weekend and a new press release will be issued as soon as possible thereafter. If the acquisition is completed it will be financed through a fully committed Directed Share Issue in combination with a fully guaranteed Rights Issue with pre-emption rights for existing shareholders and a subsequent bond financing.

For more information, please contact:

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

Ron Panchuk
Tel: +1 403 454 1564
Email: ron@mahaenergy.ca

Miscellaneous

Maha in Brief

Important Information

Maha Energy AB Press Release January 4, 2017 (final)

Maha Energy AB: Operational Update Brazil

on 16 de January de 2017 16 de January de 2017

Maha Energy AB (publ)

Biblioteksgatan 1

SE-111 46 Stockholm

www.mahaenergy.ca

Press release
Stockholm
16 January 2017

Maha Energy AB (publ) ("Maha" or the "Company") Provides Operational Update for Brazil.

OPERATIONAL UPDATE – BRAZIL

The operations concerning the workover (the "Workover") of the SES107D well (the "Well") on the Company's Tartaruga Field near Aracaju, Brazil will commence Tuesday, January 17, 2017. Schlumberger Servicos de Petroleo Ltda ("Schlumberger") slick line equipment arrived on location on Sunday January 15, 2017 and Schlumberger will commence preparatory work to allow rig provider, Braserv Petroleo Ltda, to mobilize its 500 hp Drilling Rig 147 (the "Rig") later in the week and access the Well.

The objective of the Workover is to recomplete the Well, install a hydraulic jet pump and to return the Well to continuous production. It is anticipated that the Rig will take 3 days to mobilize and rig up. The current estimate is workover operations will begin on Sunday January 22, 2017.

History

The SES107D Well was originally drilled in 1994 and was the discovery well for the Tartaruga Field. Oil was tested in the Penedo 6 sand and was immediately placed on production. The Well free flowed oil for 14 months, after which a shallower oil bearing zone -the Penedo-1- was perforated and completed. The Penedo-1 has been free flowing oil since 1996. No pump has ever been run in the SES-107D Well.

The use of a pump should provide lift for the oil like the currently producing 7TTG well at the Tartaruga Field, which has been on continuous pump production since December 2015.

The Workover

The SES107D Well was recompleted as a free flowing well in 1996 in the Penedo-1 reservoir Attempts were made in 2013 to cut and recover the production string deep in the well as part of a recompletion of the Well to install a downhole pump. Unfortunately, the cut was unsuccessful, and the pipe cutter became stuck at 3014 m.; this and 2300 m. of wireline was left in the in the production tubing which together with some partially cut 2-7/8" production tubing need to be recovered before the jet pump can be installed.

A very detailed program has been developed to fish the stuck pipe cutter, the associated wireline and the partially cut 2-7/8" production tubing out of the hole. Once recovered, a new hydraulic jet pump will be run in the hole. The Operator has been preparing the well and surface facilities since December for the installation of the jet pump (which was designed and purchased in the United States). As with any fishing operation, many contingencies have been planned for that can impact operations and the schedule

The Pump

Jet pumps generate high-velocity fluid jets to lower downhole pressures and increase production rates. The basic operating principles of the subsurface jet pump mimic those of the jet engine. Both the pump and engine contain a nozzle that converts pressurized, slow moving fluid into lower pressure, fast- moving fluid by adiabatic expansion. In the case of a jet engine, the fast- moving fluid-a burning mixture of air and jet fuel-generates the thrust that propels a plane forward. The thrust generated by the movement of a high- velocity jet pump fluid, on the other hand, lifts hydrocarbons to the surface.1

The selected hydraulic jet pump is ideally suited to handle Tartaruga's 40 deg API crude's associated gas rate and the paraffinic characteristics. The 'non-moving' parts of this pump and its surface access encourages more efficient production operations and less 'wear and tear' on downhole production equipment than other artificial lift choices.

Upon completion of the Workover, the Company will provide updates on results of the Workover.

For more information, please contact:

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

Ron Panchuk

Tel: +1 403 454 7564
Email: ron@mahaenergy.ca

Miscellaneous

Maha in Brief
Maha Energy AB is a Swedish public limited liability company. Setterwalls Advokatbyrå AB acts as legal adviser to the 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 of the Offering and the planned listing. 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, US. For more information, please visit our website www.mahaenergy.ca.

Important Information

Maha Energy AB Press Release January 16 2017

Maha Energy AB: Announces the Appointment of New Interim Chief Financial Officer and the Redemption all C1 shares

on 5 de January de 2017 5 de January de 2017

Maha Energy AB (publ)

Biblioteksgatan 1

SE-111 46 Stockholm

www.mahaenergy.ca

Press release
Stockholm
5 January 2017

Maha Energy AB (publ) ("Maha" or the "Company") Announces the Appointment of New Interim Chief Financial Officer and the Redemption all C1 shares

New Interim Chief Financial Officer ("CFO")

Maha announces that effective January 2, 2017, Mr. Brad Giblin has resigned as CFO of Maha Energy Inc. Brad will be replaced by a new Interim CFO, Mr. Mark Hopkins. Mark has over 35 years' experience in the oil and gas industry in senior financial, operational and executive leadership roles. Mark is presently also CFO of a prominent oil and gas service company in North America. Prior to that Mark served as CFO of Azabache Energy Inc., which operated in Argentina and Colombia and president of Canadian distribution operations for National-Oilwell. Prior to that Mark worked with Pricewaterhouse Coopers in Calgary and Venezuela. Mark has a Bachelor of Commerce from the University of Saskatchewan and is a Chartered Accountant.

Jonas Lindvall, Maha's CEO commented:

"I welcome Mark Hopkins to our team. Mark has a great deal of experience in South America and we believe will be a great fit and helpful addition to our South American operations. I would like to thank Brad for his service with Maha. We wish him well in his future endeavors."

C1 Share Redemption

The Board of Directors of Maha has resolved to redeem the 1,844,527 C1 shares in accordance with the redemption clause in the articles of association.

As outlined in Maha's Prospectus, all C1 shares were issued to Amha Swedish Exchange Co AB in order to facilitate delivery of Maha AB shares in the event any outstanding Maha (Canada) warrants issued by the subsidiary Maha Energy Inc. during 2014 were exercised. The exercise period for the warrants expired in November and December 2016. No warrants were exercised as the strike price was higher than the market price. As the C1 shares no longer have a purpose they will be redeemed at no cost to the Company and at their original quotient value.

Upon registration of the redemption, the share capital will be reduced from SEK 804,710 to SEK 784,420 and the total number of shares will be reduced from 73,155,521 to 71,310,994. In addition to the 56,522,199 A-shares listed on Nasdaq First North, there are 12,140,795 B-shares and 2,648,000 C2-shares in the Company.

For more information, please contact:

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

Ron Panchuk

Tel: +1 403 454 7564
Email: ron@mahaenergy.ca

Miscellaneous

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 of the Offering and the planned listing. 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, US. For more information, please visit our website www.mahaenergy.ca.

Important Information

Maha Energy AB Press Release January 5 2017

Maha Energy AB: announces Guarantors sell 4,000,000 locked-up shares to Kvalitena AB (publ)

on 12 de December de 2016 12 de December de 2016

Maha Energy AB (publ)

Biblioteksgatan 1

SE-111 46 Stockholm

www.mahaenergy.ca

Press release
Stockholm
12th December 2016

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 (publ) ("Maha" or the "Company") announces Guarantors sell 4,000,000 locked-up shares to Kvalitena AB (publ)

Maha advises that certain Guarantors (as described in previous Press Releases of the Company dated June 7, 2016 and June 30, 2016) that are subject to a lock-up in place until January 29 2017 (the "Lock-up") have entered into an agreement to sell 4,000,000 class A Shares of the Company to the Company's cornerstone shareholder Kvalitena AB effective December 9, 2016. According to the terms of Guarantee Agreement, any proposed sale of class A shares under the Lock-up by Guarantors must be approved by Stockholm Corporate Finance and the Company which approval was sought and obtained. These shares will remain subject to the Lock-up until January 29th 2017. Kvalitena AB will now own 21.9% of the Class A and B Shares of the Company and are the Company's largest shareholder.

Jonas Lindvall, CEO of Maha Energy commented:

"We are very pleased that our largest shareholder and partner Kvalitena AB continues to demonstrate confidence in Maha and its management. The Company is entering into an exciting growth phase just as the oil market rebounds which should greatly benefit Kvalitena AB and all of our shareholders."

Harald Pousette, CEO of Kvalitena Industrier AB commented:

"After working with the Company and its management for over six month we are very positive to what have been achieved so far and the future outlook for the Company. Kvalitena will long term support Maha Energy in its ambition to be a first class oil company."

For more information, please contact:

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

Ron Panchuk

Tel: +1 403 454 7564
Email: ron@mahaenergy.ca

Miscellaneous

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 of the Offering and the planned listing. 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 will operate two oil-fields, Tartaruga in Brazil and LAK Ranch, in Wyoming, US. For more information, please visit our website www.mahaenergy.ca.

Important Information

Maha Energy AB – Guarantor Sale Press

Maha Energy AB - Guarantor Sale Press

Maha Energy AB: Announces closings of acquisition of UP Petróleo Brasil Ltda (the Operator of the Tartaruga Field) and Petro Vista Energy Petróleo do Brasil Ltda.

on 9 de December de 2016 9 de December de 2016

Maha Energy AB (publ)

Biblioteksgatan 1

SE-111 46 Stockholm

www.mahaenergy.ca

Press release
Stockholm
9th December 2016

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 ("Maha or the "Company") announces closings of acquisition of UP Petróleo Brasil Ltda (the Operator of the Tartaruga Field) and Petro Vista Energy Petróleo do Brasil Ltda.

Maha is pleased to announce the closing in escrow of its acquisition of 100% of UP Petróleo Brasil Ltda. ("UPP" or the "Operator") from TDC Engineering Inc. (the "UPP Acquisition") and 100% of Petro Vista Energy Petróleo do Brasil Ltda. (the "PVE Acquisition"; collectively the "Acquisitions") occurred today, December 9, 2016. Upon routine registration with the Province of Sergipe Commercial Board, which is expected within 10 working days, all escrow conditions will be released and closing completed at which time Maha (through its subsidiary), will become operator of the Tartaruga Field.

Upon closing of the UPP and PVE Acquisitions, Maha will have a 67.5% working interest in the Tartaruga field which is currently producing approximately (gross) 230 bbls/d. The remaining 7.5% working interest in the Tartaruga Field owned by TDC Engineering Inc. (through its subsidiary) will be closed pursuant to relevant contractual and accounting arrangements shortly after January 1st, 2017. The Company will issue a further update press release upon this event.

As earlier announced, in anticipation of these closings, the Company has been planning for a workover of the SES 107 well on the Tartaruga field. Upon release from escrow, the Company will commence securing equipment and services for the workover. The workover of SES 107 entails the removal of an existing production string and the recompletion of the well with a jet pump similar to the pump currently pumping oil on the adjacent 7-TTG well.

Jonas Lindvall, CEO of Maha Energy commented:

"We are very pleased to have finalized closing of our acquisition of the operated working interest in the Tartaruga Field in Brazil. With this major milestone, we look forward to continued organic growth at both our LAK (Wyoming) and Tartaruga (Brazil) projects as well as though future accretive acquisitions taking advantage of the current low oil commodity cycle. We will now proceed with the previously announced planned workover of the previously producing SES 107 well, which is scheduled to start in January, subject to services availability."

For more information, please contact:

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

Ron Panchuk
Tel: +1 403 454 7564
Email: ron@mahaenergy.ca

Miscellaneous

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 of the Offering and the planned listing. 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 in jurisdictions we are able to successfully operate. The Company operates two oil-fields, Tartaruga in Brazil and LAK Ranch, in Wyoming, US. For more information, please visit our website www.mahaenergy.ca.

Important Information

Maha Energy AB Brazil – Closing Press Release

Maha Energy AB Brazil - Closing Press Release

Maha Energy AB: announces notification from the Brazil National Oil Agency of clearance to close acquisition of the Operator of the Tartaruga field in Brazil.

on 29 de November de 2016 29 de November de 2016

Maha Energy AB (publ)

Biblioteksgatan 1

SE-111 46 Stockholm

www.mahaenergy.ca

Press release
Stockholm
29 November 2016

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 notification from the Brazil National Oil Agency of clearance to close acquisition of the Operator of the Tartaruga field in Brazil.

Maha is pleased to announce that the Agência Nacional do Petróleo, Gás Natural e Biocombustíveis ("ANP") has provided confirmation that no additional approvals are required from ANP for Maha to proceed with the previously announced acquisition of 100% of UP Petróleo Brasil Ltda. ("UPP") from TDC Engineering Inc. (the "UPP Acquisition"). The Company will now proceed with closing under the relevant Quota Purchase Agreements of the UPP Acquisition and the previously announced acquisition of 100% of Petro Vista Energy Petróleo do Brasil Ltda. (collectively the "Acquisitions").

In anticipation of these closings the Company has been planning for a workover of the SES 107 well on the Tartaruga field. Upon closing of the Acquisitions and subject to rig and equipment availability the Company will commence field operations and the workover.

Jonas Lindvall, CEO of Maha Energy commented:

"We are very pleased to have received this notification from ANP which allows for the closing of the highly anticipated acquisition of the operated working interest in the Tartaruga Field in Brazil. This asset marks a major milestone for us and provides a great foothold in Brazil. The Tartaruga field is currently producing approximately (gross) 230 bbls/d and we believe the planned workover of the previously producing SES 107 well has the ability to greatly increase the field production."

For more information, please contact:

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

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

Miscellaneous

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 of the Offering and the planned listing. 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 will operate two oil-fields, Tartaruga in Brazil (subject to Brazilian Government approvals and closing) and LAK Ranch, in Wyoming, US. For more information, please visit our website www.mahaenergy.ca.

Important Information

Maha Energy AB Brazil – ANP Notification

Maha Energy AB Brazil - ANP Notification

Maha Energy AB: Undertakes a private placement of 484,212 new shares

on 2 de November de 2016 2 de November de 2016

Maha Energy AB (publ)

Biblioteksgatan 1

SE-111 46 Stockholm

www.mahaenergy.ca

Press release
Stockholm
2 November 2016

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 undertakes a private placement of 484,212 new shares

The board of directors of Maha Energy AB (the "Company" or "Maha") has resolved to issue 484,212 new shares of class A (the "New Shares") at the fixed subscription price of SEK 10.25 per new share of class A (i.e. in total SEK 4,963,172).

The board of directors adopted the issue resolution with support from an authorization granted at an extraordinary general meeting. The subscription price has been determined based on the market price for the Company's shares during a certain period of time prior to the issue resolution and the board of directors deems the subscription price to be on market terms.

All new shares have been subscribed for by Rothesay Ltd. who was part of the Guarantee Consortium in the Initial Public Offering ("IPO") of the Company carried out earlier this year. According to this Guarantor, due to an administrative error, 484,212 shares subscribed for in the IPO were sold in the market contrary to certain transfer restrictions ("Lock-up Restrictions") which all Guarantors undertook to be bound by.

In resolution to the Lock Up Restriction irregularities identified above, this Guarantor has agreed to subscribe for a corresponding number of shares at today's market value which is both, considerably higher than the subscription price in the initial public offering and (based on the trading analysis by the Company) considerably higher than the price at which these shares were sold in the market earlier in the year. The New Shares issued will be bound by the same Lock Up Restrictions until 29 January 2017.

The registered share capital of the Company as of today is SEK 799,384 and the total number of shares is 72,671,309 (55,937,987 A-shares, 12,140,795 B-shares and 4,592,527 C-shares (1,844,527 C1 and 2,748,000 C2)). In addition, there are 6,204,963 outstanding warrants (the price for subscription of new A-shares through exercise of warrants is SEK 6.40 and subscription may take place up to and including 15 January 2018). The dilutive effects on the share capital as a result of the private placement will only be minor.

For more information, please contact:

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

Ron Panchuk (CCO)
Tel: +1 403 454 7560
Email: Ron@mahaenergy.ca

Miscellaneous
This information is information that Maha is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above on 2 November 2016, at 11p.m CET.

Maha in brief
Maha Energy AB is a Swedish public limited liability company. Setterwalls Advokatbyrå AB acts as legal adviser to the 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 of the IPO and listing completed during the summer of 2016. 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 will operate two oil-fields, Tartaruga in Brazil (subject to Brazilian Government approvals and closing) and LAK Ranch, in Wyoming, US. 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. Neither the shares subscribed for nor the new shares have or will be registered in accordance with the Securities Act. Neither the shares subscribed for nor the 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 Energy AB – Private Placement November 2, 2016

Maha Energy AB - Private Placement November 2, 2016

Maha Energy AB: Inbjuder till informations träff samt operativ företags uppdatering

on 16 de September de 2016 16 de September de 2016

Maha Energy AB (publ)

Biblioteksgatan 1

111 46 Stockholm

www.mahaenergy.ca

Pressmeddelande

Stockholm

16 september 2016

Detta pressmeddelande får inte offentliggöras, publiceras eller distribueras, direkt eller indirekt, i Australien, Hong Kong, Japan, Kanada, Nya Zeeland, Schweiz, Singapore, Sydafrika eller USA eller i någon annan jurisdiktion där distributionen av detta pressmeddelande skulle vara olaglig. Se även avsnittet VIKTIGT MEDDELANDE nedan.

Maha Energy AB inbjuder till informations träff samt operativ företags uppdatering

Maha Energy AB (publ) ("Bolaget" eller "Maha") kommer att hålla en informationsträff den 13 oktober i Stockholm där man kommer att ge en operativ uppdatering om Bolagets aktiviteter. Informationsträffen kommer även att sändas "live" via webben.

Årlig Informations träff för aktieägare

Bolaget vill bjuda in aktieägare samt intresserade individer till en presentation av Bolagets aktiviteter som följs av en informell reception av Bolagets styrelse och ledning. Träffen kommer att hållas i "T-Huset", på Engelbrektsplan 1, 114 34 Stockholm. Jonas Lindvall, Bolagets VD kommer att hålla en webb-sänd presentation om Bolagets aktuella aktiviteter som kommer att följas av ett par ord från Maha's Ordförande, Herr Wayne Thomson. Styrelsemedlemmar och delar av Bolagets ledning kommer att vara på plats för att svara på eventuella frågor efter presentationen. Deltagare ombeds att registrera sin närvaro via Bolagets hemsida, www.mahaenergy.ca.

Operativ Uppdatering

Kanada (Marwayne och Manitou tillgångarna)

En ny Operatör tillsattes de Kanadensiska tillgångarna i juli i år efter en längre konkurs process. Den nya Operatören, Petrocapita Energy, är i full färd med att avsluta sitt tekniska arbete över tillgångarna som förvärvats från konkurs förvaltaren av Palliser Oil and Gas (Palliser). Ett initialt möte hölls med Petrocapita den 13 september för att diskutera eventuella utvecklings planer över de delade tillgångarna. Maha äger 50% intresse i Manitou och 30% intresse i Marwayne tillgångarna efter ett förvärv som gjordes i juli 2014 från Palliser Oil and Gas. Palliser sattes i konkurs förvaltning i februari 2015.

Wyoming (LAK Ranch)

I slutet av 2015 avslutades en rad studier som förknippade resultat från fält-studier, kärn-prover samt data simulering som indikerar reservoaren i LAK Ranch svarar positivt på en varm-vatten injicerings process (sk "Hot Water Flood"). Injicering av hett vatten i reservoaren resulterar i ett positivt tryck underhåll samt att oljans viskositet sänks av värmen. För att dra fördel av olje-prisets ut-bottning tidigare i år, så initierade Bolaget ett produktions uppehåll i början av april för att modifiera produktions anläggning till att kunna påbörja varm vatten injicerings processen. Under uppehållet så åtog sig Bolaget ett kapital program som nu skapat kapacitet i anläggningen att behandla och återvinna producerat vatten som är av ytterst vikt för att kunna bibehålla trycket i reservoaren under den framtida utvecklingen av fältet. Utfört arbete bestod av:

Inköp samt installation av två stycken 750 fat vinter isolerade gas uppvärmda vatten bevarings tankar som laddar, under högt tryck, varm vatten injicerings pumpen.

Installation och isolering av en 3 tums vatten ledning från tank batteriet till laddnings tankarna.

Uppgradering av vatten behandlings anläggningen för att kunna återanvända producerat vatten.

Fabrikation och installation av kemikalie-injicerings anläggning som behandlar injicerings vatten för borttagning av syre samt alkalisk tillsättning.

Projektet, som i stort sett står klart, kommer att behandla Bolagets hela vatten produktion för återanvändning som i sin tur reducerar de operativa kostnaderna för att värma och bibehålla trycket i reservoaren. Vatten injiceringen kommer att påbörjas i liten skala i början av oktober, 2016. I förväntan på varm vatten injiceringen så har Bolaget redan återupptagit produktionen genom att starta 4 produktions brunnar, och fler brunnar kommer att startas allt efter som vatten injiceringen ökar. Samtidigt som reservoaren laddas med varmt vatten så fortsätter Bolaget med att färdigställa planerna för utvecklingen av Fas 3 som innebär ytterligare borrningar av produktions hål samt injicerings hål.

Maha's tekniska team fortsätter att optimera LAK Ranch fullständiga utvecklings plan. Resultaten av varm vatten injiceringen kommer att inkluderas i den fullständiga utvecklings planen.

Brasilien (Tartaruga fältet)

Ansökan om ändring av moderbolag för Operatören av Tartaruga fältet lämnades in till Agencia Nacional de Petroleo (ANP) den 7 juli, 2016. När ansökan godkänts av de Brasilianska myndigheterna så kommer affären angående 75% arbets-intresse samt Operatörskapet i Tartaruga fältet slutföras. Ledningen övervakar processen angående godkännandet mycket nära genom Bolagets representant i Brasilien, som meddelar att processen framskrider enligt förväntan.

Operativa möten hölls i Aracaju, Brasilien, mellan den 1a och 9e september för att påbörja detaljerade planer omkring ökning av produktionen så snart affären slutförts. Planerna inkluderar en snabb workover där produktions-röret på en låg-producerande olje-brunn byts ut mot en pump. Allt material för denna workover finns redan på Tartaruga fältet, så det förväntas inga förseningar på grund av material med lång ledtid. Maha kommer också att börja planerings-arbete för ett horisontalt sidetrack där ett produktions hål återinträds och borras om till ett horisontalt produktions hål. Alla hittills borrade hål på Tartaruga har borrats i låg vinkel och ett horisontalt hål förväntas att öka produktionen väsentligt.

Maha's team har också haft positiva möten med Petrobras i Aracaju samt ANP i Rio de Janeiro där framtida arbetsprogram och samarbete diskuterades.

För mer information, vänligen kontakta:
Jonas Lindvall (VD)
Tel: +1 403 454 7560
E-post: Jonas@mahaenergy.ca

eller

Ron Panchuk
Tel: +1 403 454 7560
E-post: Ron@mahaenergy.ca

Övrigt

Ovanstående information har offentliggjorts i enlighet med lag om värdepappersmarknaden och/eller lagen om handel med finansiella instrument. Informationen publicerades klockan 06:00 den 16 september 2016.

Kort om Maha
Maha Energy AB är ett svenskt publikt aktiebolag. Bolagets föregångare, Maha Energy Inc., bildades 2013 av Jonas Lindvall och Ron Panchuk i Calgary, Kanada. I maj 2016 bildades den nya koncernen med Maha Energy AB som moderbolag i anledning av att notera Bolaget på NASDAQ First North i Stockholm. FNCA Sweden AB har anlitats som Certified Adviser

Maha agerar inom olje och gas sektorn och fokuserar på att utvärdera och utveckla kolvätefyndigheter. Maha's strategi är att hitta och utveckla underpresterande kolvätetillgångar på en global basis. Bolaget är verksam i Kanada, USA samt i Brasilien (förutsatt godkännande från brasilianska myndigheter och tillträde). Bolaget strävar efter en balanserad portfölj med olika tillgångar olika utvecklings faser.

Mer information hittar Ni på Bolagets hemsida : www.mahaenergy.ca.

VIKTIGT MEDDELANDE
Detta dokument har inte blivit godkänt av någon regulatorisk myndighet. Dokumentet är ett pressmeddelande och inte ett prospekt och investerare ska inte teckna eller köpa värdepapper som avses i detta dokument förutom på grundval av den information som finns i det prospekt inklusive tilläggsprospekt som har godkänts av Finansinspektionen och som kan laddas ner från Bolagets hemsida. Distributionen av detta pressmeddelande kan i vissa jurisdiktioner vara föremål för restriktioner enligt lag och personer som får tillgång till detta, eller del av detta, bör informera sig om och följa sådana legala restriktioner. Informationen i detta pressmeddelande ska inte utgöra ett erbjudande om att sälja värdepapper eller en uppmaning om att köpa värdepapper, inte heller ska det ske någon försäljning av de värdepapper vilka refereras till häri, i någon jurisdiktion där ett sådant erbjudande, uppmaning om att köpa eller försäljning skulle kräva framtagande av ytterligare prospekt eller annan erbjudandehandling, eller inte skulle vara lagenlig utan registrering eller tillämpligt undantag från registrering enligt värdepapperslagarna i en sådan jurisdiktion.

Detta pressmeddelande varken utgör, eller utgör en del av, ett erbjudande eller en uppmaning om ett erbjudande att köpa eller teckna värdepapper i USA. Värdepapperna omnämnda häri har inte och kommer inte registreras i enlighet med den amerikanska Securities Act of 1933 i dess senaste lydelse ("Securities Act"), och får inte erbjudas eller säljas i USA utan registrering i enlighet med Securities Act eller ett därtill relaterat undantag. Värdepapper omnämnda häri erbjuds inte till allmänheten i USA. Kopior av detta pressmeddelande görs inte och får inte distribueras eller skickas, i sin helhet eller delvis, direkt eller indirekt, till Australien, Hong Kong, Japan, Kanada, Nya Zeeland, Schweiz, Singapore, Sydafrika eller USA eller till någon annan jurisdiktion där distributionen respektive utskicket av detta pressmeddelande skulle vara olagligt.

Maha Energy Press Release 20160916 Swe