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

on Share
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

or

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 12 December 2016, at 3:45 p.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 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

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 – Guarantor Sale Press

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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 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 Share
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

or

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 9 December 2016, at 10:20 p.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 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

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 Brazil – 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

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 Share
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

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 29 November 2016, at 8:01 a.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 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

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 Brazil – ANP Notification

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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 Energy AB Brazil - ANP Notification

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

on Share
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

Or

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

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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 Energy AB - Private Placement November 2, 2016

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

on Share

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

    —
    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 Press Release 20160916 Swe

    Maha Energy AB: Announces date of Annual Autumn Shareholder Event and Webcast and provide an Operational Update

    on Share

    Maha Energy AB (publ)
    Biblioteksgatan 1
    SE-111 46 Stockholm
    www.mahaenergy.ca

    Press release

    Stockholm

    16 September 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 date of Annual Autumn Shareholder Event and Webcast and provide an Operational Update.

    Maha Energy AB (the "Company" or "Maha") today announces the scheduling of an Annual Autumn Shareholders Presentation and Reception to take place in Stockholm, Sweden on 13th October 2016 and provide an operational update.

    Annual Autumn Shareholders Event

    The Company is pleased to invite its shareholders and members of the investing community to a hosted presentation and reception at 4 pm on 13th October 2016 at the "T-House", Engelbrektsplan 1, 114 34 Stockholm. Mr. Jonas Lindvall – CEO and Managing Director of Maha, will present a broadcasted corporate and operation update for Maha followed by a few words from Maha's Chairman, Mr. Wayne Thomson. Members of the Board of Directors and management will be available for a Q&A session thereafter followed by a reception at the same venue. Maha would be grateful if those attending would pre-register for the event by following the registration procedure on the Company's website www.mahaenergy.ca.

    Operations Update

    The Company provides an Operational Update as follows:

    Canada  (Marwayne and Manitou Properties)

    The new operator of the Marwayne and Manitou properties, Petrocapita Energy Inc. is completing its technical review of the properties it acquired from the Receiver-Manager of Palliser Oil and Gas Corp in July 2016. An initial meeting of the partners to review potential development plans for the properties was held in Calgary on September 14, 2016. The Company owns a 50% working interest in the Manitou property and a 30% working interest in the Marwayne property which were acquired from Palliser Oil and Gas Corp. in July 2014. Palliser Oil and Gas Corp was placed in receivership in February 2015.

    Wyoming (LAK Ranch Property)

    At the end of 2015, a series of combined field studies, core analysis and computer modelling demonstrated the positive viability of combined reservoir pressure maintenance and viscosity reduction using hot water.  Taking advantage of the bottoming out of the oil commodity market, the LAK field was shut in at the beginning of April 2016 to undergo an expansive retrofit to convert the field from steam injection to water reinjection.  During the shut-in period, the Company undertook a capital program to create capacity for produced water recycling which is critical for the re-injection of hot water and the pressure maintenance in Phase 3 of the overall field development. This capital work included:

  • Purchasing and commissioning of two completely refurbished heated and insulated 750 bbl each water tanks to provide hot purge water for the high pressure water injection pump.
  • Installation of a 3" hot water re-circulation line from the tank battery to the purge tanks.
  • Upgrading of the water treatment facilities to enable re-circulation of produced water.
  • Fabrication and installation of alkaline and de-oxygenation skids.

    • This project, which is substantially complete, will allow for the complete treating and re-cycling of all of the Company's produced water which in turn streamlines and significantly reduces the operating cost of heating and pressure maintenance of the reservoir.  Commencement of water reinjection is scheduled for the first of October 2016.  In anticipation of the hot water pressure maintenance program, 4 wells have been placed back on production and as the project is rolled out, more wells will be brought back on production.  Simultaneous to recharging the reservoir, Maha continues to plan to begin the Phase 3 development which will include the drilling of production wells with associated hot water injection wells.

    Maha's US technical team continues to put the finishing touches to the LAK Ranch Full Field Development Plan the finalization of which will be refined based on the results of the current hot water flood program.

    Brazil  (Tartaruga Field)

    The applications to the Agencia Nacional de Petroleo ("ANP") of the Brazilian Government, necessary to approve the change of parent of the Operator of the Tartaruga Field to Maha, were filed on 7th July 2016. Upon this approval, closing under the relevant agreements of Maha's acquisition of a 75% working interest in and operatorship of the Tartaruga Field will commence. Management continues to closely monitor this approval process through its legal counsel in Brazil who have advised it is proceeding normally.

    During the week of September 1st- 9th 2016, Maha's technical team travelled to Aracaju, Brazil for technical meetings with the operator and to commence planning of operations to be commenced immediately upon the above ANP approval and closing. These planned operations will include the workover and recompletion of an existing low production well.  All surface equipment and the proposed production string are on site, with no long lead items required for the proposed workover.  Maha will also commence planning and preparation for the drilling of a horizontal sidetrack whereby an existing production well will be re-entered.  All production wells drilled on Tartaruga hereto have been near vertical and a horizontal well is expected to substantially enhance production from the field.

    The team also attended successful meetings with Petrobras in Aracaju and ANP in Rio de Janeiro, where the future operations were discussed.

    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 16 September 2016, at 06:00 a.m. CET.

    Maha in Brief

    Maha Energy AB is a Swedish public limited liability company. 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 for purposes of undertaking an Initial Public Offering and a listing at the First North Exchange in Stockholm, Sweden. FNCA Sweden AB is the Company's Certified Adviser.

    Maha Energy AB is active in the upstream oil & gas sector with a focus on appraising and developing under performing hydrocarbon assets on a global basis.  The Company holds interests in oil producing assets in Canada, United States of America and (subject to Government approvals) onshore Brazil.  The company is actively pursuing a well balanced portfolio of oil and natural gas interests, in different development stages.

    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 Press Release 20160916 Swe
    Maha Energy Press Release 20160916 Eng

    —
    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 Press Release 20160916 Swe
    Maha Energy Press Release 20160916 Eng

    Maha Energy AB: announces update on the final outcome of its initial public offering

    on Share

    Maha Energy AB (publ)
    Biblioteksgatan 1
    SE-111 46 Stockholm
    www.mahaenergy.ca

    Press release

    Stockholm

    5 August 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 update on the final outcome of its initial public offering

    Maha Energy AB (the "Company" or "Maha") today announces the receipt of the final payment of SEK 15.2 million from its cornerstone investor with the expecting closing on or before 10th August, 2016.

    The Offering

    The Company expects a Final Closing of its initial public offering of units in the form of new shares of class A and warrants giving right to subscribe for new shares of class A (the "Offering") in connection with a listing on Nasdaq First North Stockholm.

    The Offering was carried out in order to broaden the shareholder base and provide working capital, mainly to finance development operations and acquisitions. The subscription price was set at SEK 19 per unit (each unit consisting of four (4) new shares of class A and one (1) warrant giving right to subscribe for one (1) new share of class A). Nothing is to be paid for the warrants and the subscription price per share was thus SEK 4.75.

    Final Closing

    The final payment of SEK 15.2 million has been received by the Company from its cornerstone investor, Kvalitena AB. The Final Closing will occur on or before 10th August, 2016 (the "Final Closing").  The Company expects to issue 818,917(1) as part of the Final Closing.  In total, including the initial closing (July 26, 2016) and the Final Closing, the Company has now received SEK 107.7 million of subscription proceeds to date and will issue up to a maximum of 6,198,074 units.
      (1)There remains approximately SEK 316,000 unpaid (one guarantor of SEK 250,000 and SEK 66,000 from retail investors) which are expected to be received prior to Final Closing.

    Capital Structure

    On Final Closing and registration with the Swedish Companies Registration Office, the share capital will increase with SEK 36,032 from SEK 761,162 to SEK 797,194 and the number of shares will increase from 69,196,585 to 72,472,253. Each of the maximum warrants 6,198,074 issued may be exercised for subscription of one (1) new share of class A and may thus entail an additional increase of the share capital and number of shares (if exercised).

    Company Ownership

    Upon registration with the Swedish Companies Registration Office following the Final Closing, the Company's major shareholders will be as follows:

    Following Final Closing
    Major Shareholders Shares Held (1) % of Outstanding Shares (2) Warrants Held
    Kvalitena AB 11,041,665 16.3% 2,760,414
    Nerthus Investments Ltd 8,200,000 12.6% –
    Jonas Lindvall 4,711,610 6.9% –
    Newcastle Energy Corp 2,960,193 4.4% –
    Ron Panchuk 2,763,342 4.1% –
    Rothesay Ltd 2,484,212 3.7% 621,053
    Talal Al Subhi 2,394,738 3.5% –
    Invium Partners AB 1,801,052 2.7% 450,263
    Pervasive Capital AB 1,801,052 2.7% 450,263
    Total 38,157,864 56.2%
    Total Number of Maha A-Shares and Maha B-Shares 67,879,726

      (1)Shares held represents Maha A-Shares and Maha B-Shares which are held directly or indirectly by the noted shareholder.
      (2)Percentage of outstanding shares represents the shareholders holding of A-Shares and B-Shares in relation 67,879,726 (total number of Maha A-Shares and B-Shares following Final closing).

    Cash Position

    As at 30 June 2016, the Company (on a consolidated basis) had approximately SEK 21.3 million of working capital and no long term debt.  Following the Final Closing of SEK 13.7 million net proceeds, the Company estimates it will have total working capital of approximately SEK 120.7 million.

    Use of Proceeds

    The Company plans to use the working capital balance of SEK 120.7 million available after Final Closing as follows, (stated in order of precedence):

    Description SEK (million)
    Remaining payments required for PVE and TDC Acquisitions 44.5(1)
    Drilling and workover operations on Tartaruga Block, initial Phase III LAK Ranch development and administrative expenses through December 31, 2017 66.2
    Total 120.7

    (1)The final purchase price is adjusted in accordance with each quota purchase agreement for normal course working capital, long-term liabilities, payments, prepayments, currency fluctuations etc.

    Advisers

    Stockholm Corporate Finance AB acts as financial adviser and Setterwalls Advokatbyrå AB acts as legal adviser to the Company in connection with the Offering. FNCA Sweden AB has been engaged as 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 5 August 2016, at 5 p.m. CET.

    Maha in Brief       
    Maha Energy AB is a Swedish public limited liability company. 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
    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 31 May 2016 and the supplementary prospectus published on 7 June 2016. Neither the shares and warrants subscribed for nor the new shares have or will be registered in accordance with the Securities Act. Neither the shares and warrants 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.

    PRESS RELEASE August 5

    —
    This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX 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
    HUG#2033611

    PRESS RELEASE August 5

    Maha Energy AB: announces the final outcome of its initial public offering and confirms first day of trading on Nasdaq First North Stockholm as 29 July 2016

    on Share

    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 final outcome of its initial public offering and confirms first day of trading on Nasdaq First North Stockholm as 29 July 2016 
    Maha Energy AB (the "Company" or "Maha") today announces the final outcome of its initial public offering of units in the form of new shares of class A and warrants giving right to subscribe for new shares of class A (the "Offering") in connection with a listing on Nasdaq First North Stockholm.

    Price
    The Offering was carried out in order to broaden the shareholder base and provide working capital, mainly to finance development operations and acquisitions. The subscription price was set at SEK 19 per unit (each unit consisting of four (4) new shares of class A and one (1) warrant giving right to subscribe for one (1) new share of class A). Nothing is to be paid for the warrants and the subscription price per share was thus SEK 4.75.

    Allotment
    The allotment of units in the Offering will be as follows:
    1. As disclosed in Press Release dated 30 June 2016, the guarantee consortium was provided the ability to reduce their respective undertakings by 50 % in exchange for committing to a six-month lock-up and accepting Units in settlement of the remuneration (the "Amendment"). The Company received signed Amendments from 99.5% of the guarantee consortium.
    2. The Company has received 92.5 million SEK of subscription proceeds to date. The Company has agreed with Kvalitena AB that its subscription for 15.2 million SEK of units in the Offering  will be delayed until 5 August, 2016.
    3. As such, the Company has completed an Interim Closing of its Offering ("Interim Closing") as follows:
      (a) 647,671 units corresponding to approximately 12.3 million SEK were subscribed for by and allotted to the general public;
      (b) 1,368,421 units corresponding to 26.0 million SEK were subscribed for and allotted in accordance with subscription pre-commitments;

      (c) 3,363,065 units corresponding to 54.2 million SEK were subscribed for by the guarantee consortium of which 513,010 units (with a value of SEK 9,747,182) are issued to the guarantee consortium in payment of cash remuneration due under the guarantees.
    4. A Final Closing is expected to occur on or before 5 August, 2016 (the "Final Closing") upon receipt of the remaining 15.5 million SEK.  The Company will have issued 818,917(1) additional units.  The Company will update the position immediately following the Final Closing in a further press release.
    (1) In addition to a contractual agreement made with Kvalitena AB there remains approximately 316,000 SEK unpaid (one guarantor of SEK 250,000 and SEK 66,000 from retail investors) which are expected to be received prior to Final Closing. 

    First Day of Trading
    The first day of trading in the Company's shares of class A and warrants giving right to subscribe for shares of class A at Nasdaq First North Stockholm will occur on 29 July 2016. 

    Capital Structure
    Upon Interim Closing and registration with the Swedish Companies Registration Office, the share capital will increase with SEK 236,683 from SEK 524,479 to SEK 761,162 and the number of shares will increase by 21,516,628 from 47,679,957 to 69,196,585 (divided between 50,994,664 A-shares, 13,609,394 convertible B-shares, 1,844,527 convertible C1-shares, and 2,748,000 convertible C2-shares). Each of the maximum 5,379,157 warrants may be exercised for subscription of one (1) new share of class A and may thus entail an additional increase of the share capital and number of shares (if exercised).
    Upon Final Closing and registration with the Swedish Companies Registration Office, the above share capital will increase with SEK 36,032 from SEK 761,162 to SEK 797,194 and the number of shares will increase from 69,196,585 to 72,472,253 and the number of above warrants will increase to 6,198,074.

    Price for and Period for Subscription of New Shares of Class A Through Exercise of Warrants
    The price for subscription of new shares of class A through exercise of warrants is SEK 6.40 and subscription may take place up to and including 15 January 2018. More information about the warrants and how to subscribe for new shares of class A through exercise of warrants is to be found in the terms and conditions for the warrants included in the prospectus published on 31 May 2016 available at our website www.mahaenergy.ca.

    Company Ownership
    Upon registration with the Swedish Companies Registration Office following the Interim and the Final Closing, the Company's major shareholders will be as follows:

      Following Interim Closing Following Final Closing
    Major Shareholders Shares Held (1) % of Outstanding Shares (2) Warrants Held Shares Held (1) % of Outstanding Shares (2) Warrants Held
    Kvalitena AB   7,842,105 12.1%  1,960,526 11,041,665 16.3% 2,760,414
    Nerthus Investments Ltd 8,200,000 12.7% – 8,200,000 12.6% –
    Jonas Lindvall 4,711,610 7.3% – 4,711,610 6.9% –
    Newcastle Energy Corp 2,960,193 4.6% – 2,960,193 4.4% –
    Ron Panchuk 2,763,342 4.3% – 2,763,342 4.1% –
    Rothesay Ltd 2,484,212 3.8% 621,053 2,484,212 3.7% 621,053
    Talal Al Subhi 2,394,738 3.7% – 2,394,738 3.5% –
    Invium Partners AB 1,801,052 2.8% 450,263 1,801,052 2.7% 450,263
    Pervasive Capital AB 1,801,052 2.8% 450,263 1,801,052 2.7% 450,263
    Total 34,958,304 54.1%   38,157,864 56.2%  
    Total Number of Maha A-Shares and Maha B-Shares 64,604,058      67,879,726     
    (1) Shares held represents Maha A-Shares and Maha B-Shares which are held directly or indirectly by the noted shareholder.

       (2) Percentage of outstanding shares represents the shareholders holding of A-Shares and B-Shares in relation to 64,604,058 (total number of Maha A-Shares and B-Shares following Interim Closing) and 67,879,726 (total number of Maha A-Shares and B-Shares following Final closing).

    Cash Position
    As at 30 June 2016, the Company (on a consolidated basis) had approximately SEK 21.3 million of working capital and no long term debt.  With the Interim Closing proceeds of 92.5 million SEK in cash less estimated remaining cash share issue expenses of 6.8 million SEK up to Interim Closing, with the Company estimates it will have a working capital of approximately 107 million SEK.   After Final Closing the remaining proceeds of 15.5 million SEK in cash less estimated remaining Final Closing cash share issue expenses of 1.8 million SEK, the Company estimates it will have total working capital of approximately 120.7 million SEK.

    Use of Proceeds
    The Company plans to use the working capital balance of 107 million SEK available after Interim Closing as follows, (stated in order of precedence):

    Description SEK (million)
    Remaining payments required for PVE and TDC Acquisitions 44.5(1)
    Drilling and workover operations on Tartaruga Block, initial Phase III LAK Ranch development and administrative expenses through December 31, 2017 62.5
    Total 107.0

    (1)The final purchase price is adjusted in accordance with each Quota Purchase Agreement for normal course working capital, long-term liabilities, payments, prepayments, currency fluctuations etc.
    The increase in net working capital balance upon Final Closing of 13.7 million SEK would be used primarily to conduct Phase III of the LAK Development Plan as outlined in the Prospectus.

    Advisers
    Stockholm Corporate Finance AB acts as financial adviser and Setterwalls Advokatbyrå AB acts as legal adviser to the Company in connection with the Offering. FNCA Sweden AB has been engaged as 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 26 July 2016, at 2 p.m CET.

    Maha in Brief       
    Maha Energy AB is a Swedish public limited liability company. 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

    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 31 May 2016 and the supplementary prospectus published on 7 June 2016. Neither the shares and warrants subscribed for nor the new shares have or will be registered in accordance with the Securities Act. Neither the shares and warrants 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: announces delayed first day of trading on Nasdaq First North Stockholm

    on Share

    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 delayed first day of trading on Nasdaq First North Stockholm      

    Maha Energy AB (the "Company" or "Maha") expected first day of trading of the Company's class A shares and warrants on Nasdaq First North Stockholm of July 15th 2106 has been delayed.  Maha intends by press release to provide an updated listing date and final outcome of the initial public offering information shortly.

    Advisers
    Stockholm Corporate Finance AB acts as financial adviser and Setterwalls Advokatbyrå AB acts as legal adviser to the Company in connection with the Offering. FNCA Sweden AB has been engaged as 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 was submitted for publication through the agency of the contact persons set out above on 14 July 2016, at 7:30 p.m CET.

    Maha in brief        
    Maha Energy AB is a Swedish public limited liability company. 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
    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 31 May 2016 and the supplementary prospectus published on 7 June 2016. Neither the shares and warrants subscribed for nor the new shares have or will be registered in accordance with the Securities Act. Neither the shares and warrants 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: announces the final subscription price and the allotment decision regarding its initial public offering together with an adjusted indicative timetable

    on Share

    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 final subscription price and the allotment decision regarding its initial public offering together with an adjusted indicative timetable

    Maha Energy AB (the "Company" or "Maha") today announces the outcome of its initial public offering of units in the form of new shares of class A and warrants giving right to subscribe for new shares of class A (the "Offering") in connection with a planned listing on Nasdaq First North Stockholm.

    The Offering was carried out in order to broaden the shareholder base and provide working capital, mainly to finance development operations and acquisitions. The subscription price, determined based on a book-building procedure, has now been set to SEK 19 per unit (each unit consisting of four (4) new shares of class A and one (1) warrant giving right to subscribe for one (1) new share of class A). Nothing is to be paid for the warrants and the subscription price per share is thus SEK 4.75.

    The board of directors has decided on the following allotment of units in respect of the Offering:

    1. 651,172 units corresponding to approximately SEK 12.4 million were subscribed for by and allotted to the general public; 
    2. 2,168,311 units corresponding to approximately SEK 41.2 million were subscribed for by and allotted in accordance with subscription pre-commitments; 
    3. in the light of the prevailing uncertain market conditions the guarantee consortium has been offered the ability to reduce their respective undertakings in relation to the remaining 5,075,254 units by up to approximately 50%. In exchange for the ability to reduce their respective undertakings (the "Amendment"), the guarantors who choose to sign the Amendment will commit to transfer restrictions (lock-up) in respect of the shares acquired as a result of the guarantee commitments for a period of six (6) months following the first day of trading and the remuneration due to the guarantee consortium under the guarantee agreements will be settled  by the Company by issuing Units to the guarantors instead of making payments in cash; 
    4. if all of the Guarantors sign the Amendment, the Offering will result in gross proceeds to the Company of SEK 107,971,223.  The net proceeds of the Offering will be SEK 98,223,006; and  
    5. if all of the Guarantors sign the Amendment, the Company will issue 515,378 Units to the guarantee consortium in lieu of cash remuneration

    As a result of preliminary discussions the board of directors expects that most, if not all, of the Guarantors will accept the above Amendment. The board of directors, due to market conditions, has decided not to make use of its option to increase the Offering.

    Only subscribers who have been allotted units will receive contract notes and the expected settlement date of the Offering is 6th July 2016. The first day of trading in the Company's shares of class A and warrants giving right to subscribe for shares of class A at Nasdaq First North Stockholm is planned to occur on or about 15 July 2016. 

    The final gross and net proceeds as well as the final share capital increase and number of new shares as a result of the Offering depends on the extent to which the guarantors sign the Amendment described above. The Company will provide an update in this respect once the extent of the take up of the Amendment is ascertained.              

    The Company's CEO Jonas Lindvall comments as follows: "We are very pleased to welcome all our new shareholders and in particular Kvalitena AB, our new cornerstone investor.  This represents a significant milestone for Maha that results in a broadened shareholding base, the capital necessary for rapid growth and liquidity for our shareholders."

    Advisers
    Stockholm Corporate Finance AB acts as financial adviser and Setterwalls Advokatbyrå AB acts as legal adviser to the Company in connection with the Offering. FNCA Sweden AB has been engaged as Certified Adviser.    
    For more information, please contact:          
    Jonas Lindvall (CEO)
    Tel: +1 403 454 7560        
    Email: Jonas@mahaenergy.ca

    Or

    Ron Pancuk (CEO)
    Tel: +1 403 454 7560         
    Email: Ron@mahaenergy.ca

    Miscellaneous     
    This information is published in accordance with the Swedish Securities Market Act and/or the Swedish Financial Instruments Trading Act. The information was submitted for publication on 30 June 2016, at 6 p.m CET.

    Maha in brief       
    Maha Energy AB is a Swedish public limited liability company. 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
    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 31 May 2016 and the supplementary prospectus published on 7 June 2016. Neither the shares and warrants subscribed for nor the new shares have or will be registered in accordance with the Securities Act. Neither the shares and warrants 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.