Press release
Stockholm
April 30, 2018

This press release is not for release, publication or distribution, directly or indirectly, in or into Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa, Switzerland or the United States, or in any other jurisdiction where distribution of this press release could be illegal or subject to legal restrictions.
                                                                                                                  
Maha Energy AB changes to Fourth Quarter 2017 and Year End Report and Nomination Committee Report

Maha Energy AB (publ) ("Maha" or the "Company") announces that during the finalization and audit of the 2017 Annual Report the functional currency for the recently acquired Brazilian operations was changed from US Dollar (USD) to Brazilian real (BRL).  Had this change been applied to the 2017 Fourth Quarter and Year-end Report, it would have resulted in the following differences to the Consolidated Statement of Operations and Comprehensive Loss:

For the 12 Months ended December 31, 2017:

In addition, the Company is now presenting a USD 3 million deposit to guarantee certain work commitments as Restricted Cash on its Balance Sheet, which had previously been included as part of Cash and Cash Equivalents.

There have been no material or substantive changes in the Company or its operations affecting Results since the release of the 2017 interim Fourth Quarter and Year-end Report, and the finalization of the 2017 Annual Report.

Nomination Committee Report

The Company also advises the Report of the Nomination Committee of the Company for the 2018 Annual General Meeting to be held in Stockholm on 30 May 2018 has now been posted on its website www.mahaenergy.ca and is attached.

Adviser

 FNCA Sweden AB is the Company's Certified Adviser.

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

or

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

Miscellaneous

This information is published in accordance with the EU Market Abuse Regulation and/or the Swedish Financial Instruments Trading Act. The information was submitted for publication through the agency of the contact persons set out above on April 30, 2018, at 18:00 (CET)

Maha in Brief

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

Important Information

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

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[1] The changes noted in the above table include certain other non-material differences adjusted during the finalization of the 2017 Annual Report.

2018-04-30 Maha Energy AB Press Release
Maha Energy AB – Statement by the Nomination Committee (eng)

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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

2018-04-30 Maha Energy AB Press Release

Maha Energy AB - Statement by the Nomination Committee (eng)

                                                                                                                                                
Press release
Stockholm
April 27, 2018

                                                                                                                                                                                                
Maha Energy AB: Notice to attend the annual general meeting in Maha Energy AB (publ) to be held on May 30, 2018

The shareholders in Maha Energy AB (publ), reg. no. 559018-9543, are hereby given notice to attend the annual general meeting at 3:00 p.m. on Wednesday 30 May 2018 at Setterwalls Advokatbyrå's offices at Sturegatan 10 in Stockholm, Sweden. Registration for the meeting commences at 2:30 p.m.

Notice

Shareholders wishing to participate at the meeting must:

(i)            be entered in the shareholders' register, kept by Euroclear Sweden AB (the Swedish Central Securities Depository & Clearing Organization), on the record day which is Thursday 24 May 2018; and

(ii)           notify the company of their attendance and any assistant no later than Friday 25 May 2018. Notification can be made via letter to Setterwalls Advokatbyrå AB, Attn: Lars Sundell, P.O. Box 1050, SE-101 39 Stockholm, Sweden or by e-mail to lars.sundell@setterwalls.se.

Notification shall include full name, personal identification number or corporate registration number, address and daytime telephone number and, where appropriate, information about representative, proxy and assistants. The number of assistants may not be more than two. In order to facilitate entry to the meeting, notification should, where appropriate, be accompanied by powers of attorney, registration certificates and other documents of authority.

Personal data obtained from the share register kept by Euroclear Sweden AB, notices and attendance at the meeting and information on representatives, proxies and assistants will be used for registration, preparation of the voting list for the meeting and, where appropriate, the minutes of the meeting.

Nominee registered shares

Shareholders who have their shares registered in the name of a nominee must request temporary entry in the transcription of the share register kept by Euroclear Sweden AB in order to be entitled to participate and vote for their shares at the meeting. The shareholder must inform the nominee well in advance of the record day, at which time the register entry must have been made.

Proxy

A shareholder represented by proxy shall issue a power of attorney which shall be dated and signed by the shareholder. If issued by a legal entity the power of attorney shall be accompanied by registration certificate or, if not applicable, equivalent documents of authority. Power of attorney forms for those shareholders wishing to participate by proxy are available on the company's website www.mahaenergy.ca. The original version of the power of attorney shall also be presented at the meeting.

Proposed agenda

      1. Opening of the meeting and election of chairman of the meeting;

Proposed resolutions

Item 1. Election of chairman of the meeting

The nomination committee, consisting of Harald Pousette, representing Kvalitena AB, Håkan Ehrenblad, representing Nerthus Investments Ltd., Patrik Lindvall, representing Jonas Lindvall and Wayne Thomson, the chairman of the board of directors, proposes that attorney Marcus Nivinger is appointed chairman of the annual general meeting.

Item 9. Allocation of the company's profit or loss according to the adopted balance sheet

The board of directors proposes that the company's available funds shall be carried forward in new account and that no dividend shall be paid for the last financial year.

Item 11. Determination of the number of members of the board of directors and the number of auditors and deputy auditors

The nomination committee proposes that four board members are elected.

Further, the nomination committee proposes that a registered public auditor is appointed as auditor.

Item 12. Determination of the fees payable to the members of the board of directors and auditors

The nomination committee proposes that the fees payable to the board of directors for the period until the end of the next annual general meeting shall amount to a total of SEK 640,000 (remuneration for committee work not included, previously SEK 513,260) out of which SEK 300,000 (previously SEK 256,630) shall be paid to the chairman and SEK 170,000 (previously SEK 128,315) to each of the other ordinary members. The managing director shall not receive a fee as an ordinary member of the board of directors.

Board members shall also be entitled to invoice the company in so far as they perform services outside the board assignment.

Furthermore, it is proposed, as remuneration for the committee work, the chairman of the audit committee is to receive SEK 125,000, the chairman of the compensation and governance committee SEK 125,000, the chairman of the reserves and health, safety and environment committee SEK 125,000, members of the audit committee (the chairman excluded) SEK 85,000 each, members of the compensation and governance committee (the chairman excluded) SEK 85,000 each and members of the reserves and health, safety and environment committee (the chairman excluded) SEK 85,000 each. The managing director shall not receive remuneration as a member of a committee.

It is proposed that the company's auditor shall be paid in accordance with approved invoices.

Item 13. Election of members of the board of directors and auditors

The nomination committee proposes re-election of Wayne Thomson, Jonas Lindvall, Anders Ehrenblad and Harald Pousette as ordinary board members. The nomination committee proposes re-election of Wayne Thomson as chairman of the board of directors.

Information on the board members proposed for re-election can be found in the annual report and on the company's website at www.mahaenergy.ca.

The nomination committee further proposes re-election of the accounting firm Deloitte AB as auditor. Deloitte AB has informed that Fredrik Jonsson will continue to be appointed as the auditor-in-charge.

Item 14. Resolution regarding principles for the appointment of and instructions regarding a nomination committee

The nomination committee does not propose any changes to the principles adopted at the annual general meeting in 2017 (applicable until the general meeting decides otherwise). The principles are kept available on the company's website at www.mahaenergy.ca.

Item 15. Resolution regarding an incentive programme and issuance of warrants to senior management and key employees (LTIP)

The board of directors in Maha Energy AB (publ) (the "Company") proposes that the annual general meeting resolves on an incentive programme for senior management and certain key employees through issuance of warrants entitling to subscription of new shares of class A in the Company ("Shares") as set forth below.

Background

The proposal to launch an incentive programme by the issuance of warrants is presented by the board of directors of the Company in order to strengthen the retention of employees with the company group and to motivate the employees to create shareholder value. The board of directors assess that these objectives are in line with all shareholders' interests.

The programme encompasses employees employed by subsidiaries of the Company (together with the Company, the "Group"). Board members not employed by the Group are not allowed to participate. Those entitled to participate in the incentive programme are hereinafter referred to as "Participants".

Terms and conditions for the issue of warrants

Allocation principles to be applied in relation to Participants

Warrants subscribed for by the Subsidiary shall be transferred to the Participants in accordance with instructions from the board of directors of the Company and the principles set forth below.

The transfers of warrants from the Subsidiary to the Participants are to be made without consideration (i.e. free of charge).

The Participants' right to receive warrants shall be differentiated based on position, responsibility and work performance in the Group. The Participants will be divided into three different categories and only persons in such categories will be offered the right to receive warrants.

Maximum allocation of warrants within each category of Participants:

Allocated warrants may be exercised for subscription of new Shares in the Company during the period from and including 1 May 2021 until and including 31 November 2021. Subscription of new Shares may however not take place during so-called closed periods according to the EU Market Abuse Regulation, or otherwise in breach of relevant insider rules and regulations (including the Company's internal guidelines in this respect).

Warrant agreement

All warrants will be governed by warrant agreements to be entered into between each Participant and the Subsidiary in connection with the transfer of warrants from the Subsidiary. The warrant agreement will include certain transfer restrictions and other terms and conditions customary for such agreements.

Reasons for the deviation from the shareholders' preferential rights

The reasons for the deviation from the shareholders' preferential rights is that the Company wishes to offer warrants to employees of the Group in order to strengthen the retention of employees and to motivate them to contribute to the creation of shareholder value.

Dilution, costs, etc.

Upon full subscription, transfer and exercise of all 750,000 issued warrants; a total of 750,000 new Shares will be issued in the Company (subject to potential recalculations in accordance with standard terms and conditions applicable to the warrants). This would lead to a dilution corresponding to 0.8% of the total share capital and number of votes in the Company (based on the share capital and number of shares in the Company registered as of the date of this proposal and calculated as the maximum amount of share capital and number of shares that may be issued, divided by the total share capital and the total number of shares in the Company after all warrants have been exercised).

The incentive programme is expected to have a marginal effect on the Company's earnings per share. A preliminary estimate of the market value of the warrants is SEK 2.29 per warrant for the call period, assuming an underlying market value and exercise price of SEK 6.70 per share. The Black Scholes valuation model has been used for valuing the warrants and assumes a risk free interest of -0.17 percent and a volatility of 47 percent.

Costs related to the issuance of warrants under the incentive programme will be accounted for in accordance with IFRS 2 and recognized as an expense in the income statement during the vesting period. The preliminary estimate of total cost to be recorded during the term of the programme is SEK 1,715,656.  Ongoing administration costs and other costs of the programme are minimal.

 Outstanding incentive programmes

As of the date of this proposal, the Subsidiary has 800,000 stock options outstanding under a separate stock-based incentive plan. Upon exercise of the stock options, the option holders become shareholders in the Company instead of the Subsidiary. In order to facilitate such exchange the Company has issued the shares of class C2 to be converted to shares of class A and delivered to holders upon exercise of stock options.

In addition, 750,000 warrants are outstanding under a long term incentive program for employees and senior management of the Group. Each warrant entitles to subscribe for one new Share in the Company. The exercise price of the warrants corresponds to 100 percent of the volume weighted average last closing price for the Company's share on Nasdaq First North during the period from and including 12 June 2017 until and including 15 June 2017. The warrants may be exercised from and including 1 June 2020 until and including 31 December 2020.

Approval of transfer of warrants from the Subsidiary to Participants

A resolution to issue warrants in accordance with this proposal also includes an approval of the transfers of warrants from the Subsidiary to the Participants.

Majority requirements

This proposal to adopt the incentive programme and to issue warrants, as well as the approval of the transfers of warrants from the Subsidiary to the Participants, is governed by the provisions in Chapter 16 of the Swedish Companies Act (Sw.Aktiebolagslagen (2005:551)), and a valid resolution therefore requires that the proposal is supported by shareholders representing at least nine-tenths (9/10) of the votes cast as well as of all shares represented at the meeting.

Item 16. Resolution regarding authorization for the board of directors to increase the share capital

The board of directors proposes that the general meeting resolves on an authorization for the board of directors to – for the period up to the next annual general meeting and at one or more occasions – resolve upon issuance of new shares, warrants and/or convertible debentures. Payment may be made in cash, in kind, trough set-off of claims or otherwise be conditional. The company's share capital may by support of the authorization be increased by an amount corresponding to 10% of the share capital and number of shares in the company as of on the date the board of directors make use of the authorisation. Deviation from the shareholders' preferential rights shall be allowed in situations where a directed issue is deemed more appropriate for the company due to timing, commercial or similar reasons, and in order to enable acquisitions. The chairman of the board of directors, the managing director, or anyone authorized by the board of directors, shall have the right to make any minor adjustments required in order to register this resolution.

Number of shares and votes in the company

The total number of shares in the company at the time of issuance of this notice is 99,228,363 (88,046,742 A-shares, 9,183,621 convertible B-shares and 1,998,000 convertible C2-shares). The company does not hold any of its own shares.

Shareholders' right to request information

Pursuant to Chapter 7 section 32 of the Swedish Companies Act (Sw. aktiebolagslagen (2005:551)) the board of directors and the managing director are under a duty to, if any shareholder so requests and the board of directors deems that it can be made without material damage to the company, provide information, regarding circumstances which may affect the assessment of a matter on the agenda or of the company's economic situation. Such duty to provide information also comprises the company's relation to the other group companies, the consolidated financial statements and such circumstances regarding subsidiaries which are set out in the foregoing sentence.

Documentation

The financial accounts, auditor's report, complete proposals for resolution and other documents to be dealt with at the general meeting will be kept available at the company's office not later than three weeks before the meeting. The documents will be sent free of charge to shareholders who so request and state their postal address. The documents will also be made available not later than the aforementioned date on the company's website www.mahaenergy.ca. All the above mentioned documents will also be presented at the general meeting.

_____
Stockholm, April 2018

The board of directors

Official version of notice to attend the annual general meeting

The official version of the notice to attend the annual general meeting is in the Swedish language and available for download at the following link: www.mahaenergy.ca

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

or

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

Miscellaneous
This information is published in accordance with the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact persons set out above on April 27, 2018, at 17:30 p.m. CET.

Maha in Brief

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

Notice to attend annual general meeting 2018
Maha Press Release notice of AGM 2018
Kallelse till årsstämma 2018_(Swedish Notice)

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

Maha Press Release notice of AGM 2018

Kallelse till årsstämma 2018_(Swedish Notice)

Notice to attend annual general meeting 2018

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

Press release
Stockholm
April 4, 2018

Maha Energy AB (publ) ("Maha" or the "Company") Announces Operational Update

The Company is pleased to announce that it will shortly commence the previously announced 2018 Work Program at its two producing oil and gas fields in Bahia and Sergipe Provinces Brazil, (see Press Released dated 22 February, 2018).

Tartaruga Field

The Work Program at Tartaruga is kicked off today with the mobilization of a coiled tubing unit from Macae to the field.The workover will include upsizing the current 1.5" completion string and the perforating of a previously unperforated producing zone of the 7TTG well (the "7TTG Workover").  The Braserv Rig 147 has been contracted to perform the perforating and recompletion of the well.  The 7TTG Workover operations are expected to take between 3 and 4 weeks.

Additionally, plans are well developed to mobilize a 1500 HP drilling rig to Tartaruga for the reentry of and horizontal sidetrack of the 107D well (the "Re-entry and Sidetrack").  The Re-entry and Sidetrack will commence as soon as possible after the 7TTG Workover is completed.  The Re-entry and Sidetrack is expected to take 6 weeks to drill and complete.

The production facilities at Tartaruga will be shut down during the 7TTG Workover and Re-entry and Sidetrack.  As announced the Company will be upgrading the facilities to accommodate expected increases in production from these operations.

Tie Field

Upon completion of the Re-entry and Sidetrack at Tartaruga, the 1500 HP drilling rig will then be transported to the Tie Field where the Company will drill a new well to target the oil productive Agua Grande and Sergi formations at a structurally optimal position (the "Attic Well").  A secondary objective of the Attic Well will be to explore the previously undrilled Boipeba reservoir which is located below the oil bearing Sergi formation.    The Attic Well at Tie is expected to take 6 weeks to drill and complete.

Unlike Tartaruga Field where production will be shut down during the workover and drilling period, it is planned to continue to produce the Tie Field during the drilling of the Attic Well.  The Hydraulic jet pumps that were ordered at the end of November have been manufactured and are now on a ship steering for Brazil.  The pumps left the United States on 20 March, 2018 and is expected to arrive in Brazil later in April.  One of the jet pumps will be installed on the shut in GTE-3 well as soon as it has cleared customs in Brazil.

In order to ready the GTE-3 well for the Jet Pump, a workover unit will be mobilized to coincide with the installation of the jet pump to convert the well for pumping operations.  All necessary completion equipment is on order and is scheduled to be available in time for the workover   (the "Tie Workover").

Production Update

During the last week of March, oil deliveries from the Tie Field was reduced due to an unexpected shutdown at one of the refineries accepting Tie oil as well an unscheduled maintenance issue at the delivery station to the other refinery to which Tie Field oil is sold.  This affected total oil production for the month of March.  Both issues are now resolved and production from the Tie Field is back to normal.

During the 7TTG Workover and the 107D Re-entry and Sidetrack production at the Tartaruga Field will require shutdowns (most of April, May and likely part of June). The Company anticipates increased production from the positive effects of the jet pump installed on GTE-3 will help to keep overall corporate production stable during the 7TTG Workover, the 107D Re-entry and Sidetrack and the Tie drilling operations.

Adviser

FNCA Sweden AB is the Company's Certified Adviser.

For more information, please contact:

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

or

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

Miscellaneous

This information is published in accordance with the EU Market Abuse Regulation.  The information was submitted for publication through the agency of the contact persons set out above on April 4, 2018, at 7:00 am CET.

  
Maha in Brief

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

Important Information

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

2018-04-04 Operational Update

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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

2018-04-04 Operational Update

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

Press release
Stockholm
April 3, 2018

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

Maha Energy AB (publ) ("Maha" or the "Company") Announces March Production Volumes

The Company's aggregate sales production for the month of March totaled 46,1171 barrels of oil and 26.842 million scf of gas for a combined average production of approximately 1,632 BOE/day2, before royalties and taxes.

1Subject to minor standard industry adjustments at the time of custody transfer.
2Barrels of oil equivalent ("BOE") conversion ratio of 6,000 scf: 1 bbl is used.

Adviser

FNCA Sweden AB is the Company's Certified Adviser.

For more information, please contact:

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

or

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

Miscellaneous

The information was submitted for publication through the agency of the contact persons set out above on April 3, 2018, at 7:00 am CET.

Maha in Brief

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

Important Information

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

2018-04-01 Production Numbers

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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

2018-04-01 Production Numbers

Maha Energy AB (publ)

Biblioteksgatan 1

SE-111 46 Stockholm

www.mahaenergy.ca

Press release

Stockholm

March 2, 2018

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

Maha Energy AB (publ) ("Maha" or the "Company") Announces February Production Volumes

The Company's aggregate sales production for the month of February totaled 45,8421 barrels of oil and 30.737 million scf of gas for a combined average production of approximately 1,820 BOE/day2, before royalties and taxes.

1Subject to minor standard industry adjustments at the time of custody transfer.

2Barrels of oil equivalent ("BOE") conversion ratio of 6,000 scf : 1 bbl is used.

Adviser

FNCA Sweden AB is the Company's Certified Adviser.

For more information, please contact:

Jonas Lindvall (CEO)

Tel: +1 403 454 7560

Email: jonas@mahaenergy.ca

or

Ron Panchuk (CCO)

Tel: +1 403 454 7560

Email: ron@mahaenergy.ca

Miscellaneous

The information was submitted for publication through the agency of the contact persons set out above on March 2, 2018, at 6:00 pm CET.

Maha in Brief

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

Important Information

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

2018-03-02 February Production

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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

2018-03-02 February Production

Maha Energy AB (publ)

Biblioteksgatan 1

SE-111 46 Stockholm

www.mahaenergy.ca

Press release

Stockholm

February 22, 2018

Maha Energy AB (publ) ("Maha" or the "Company") Announces 2018 Capital Plan and future Production Guidance

Maha Energy AB (publ) ("Maha" or the "Company") has today released details of the proposed 2018 capital plan ("Capital Plan") and expected minimum future production levels for its operations in Brazil and the USA.

During 2017 the Company completed a number of financings, issued a bond and completed acquisitions of two significant producing oil and gas properties in Brazil.  As outlined in its April 2017 – Five Year Capital Plan Press Release, 2018 was meant to be and will be a year of organic growth.  Below is an outline of the Company's 2018 Capital Plan to achieve this growth.

Jonas Lindvall, President and Chief Executive Officer of Maha Energy, commented: "The benefits of merging the closely situated Tartaruga and Tie business units is bearing fruit.  Our new streamlined Brazil organization is commencing a vigorous 2018 capital plan.  I predict 2018 will be a year of healthy growth for the Company."

LAK Ranch -Wyoming USA

(a)        Reservoir Analysis

Laboratory studies and reservoir analysis completed in 2017 on LAK have confirmed that pressure support is the dominating requirement for mobilizing the 19° API oil from the LAK reservoir.  This concept is further supported by the two recent successful field trials, (one of which is still ongoing), where commercial quantities of oil have been mobilized and produced.

(b)        First Expansion Phase

With strengthening oil prices and the positive reservoir analysis (above), the Company is planning a 2018 first expansion phase of the hot water flood commenced in 2016.  This program expansion phase entails drilling two more horizontal producing wells and six vertical injector wells.  Two of the planned injector wells will be placed up dip of an existing horizontal producer that requires pressure support.  Completion of the drilling program is scheduled for Q3 2018.  Upon completion, LAK will have a total of 5 horizontal producing wells and 9 injectors.  The Drilling Program is subject to various routine drilling approvals by Landowners and Wyoming Authorities.

Tartaruga – Sergipe, Brazil

(a)        Re-entry and Workover of 7TTG

One of the existing producing wells (7TTG) will be re-entered during the first half of the year to recomplete the production string with a larger diameter tubing to optimize production.  Technical analysis suggests current production is constrained due to the undersized tubing currently in place.  During the same workover, the Company plans to perforate two previously untested intervals in the well.  One of these intervals may be stimulated to increase production volumes.  Upon completion of the workover, the 7TTG well should be producing from 3 intervals instead of the current 1.  The workover is expected to take 3 weeks to complete.

(b)        Sidetrack of 107D

After the recompletion of 7TTG, a drilling rig will be brought in to sidetrack the other producing well at Tartaruga (Well 107D).  The current completion will be recovered, and the well sidetracked.  The sidetrack will be drilled directionally and end with a 500 m long horizontal drainhole in the Pendeo sandstone.  This operations is expected to start immediately after the 7TTG workover and should take 45 days.  A new hydraulic pump has been ordered from the United States and is expected in Brazil in April.  This will be installed upon completion of the 7TTG sidetrack.

The Tartaruga field will be shut in during the 7TTG workover and the 107D drilling for safety reasons.

(c)        Facility Upgrade

Production test results of the Sidetrack and Workover will dictate upgrade requirements for the production handling facilities at Tartaruga.  Current capacity of this production facility is limited, because of gas offtake constraints, to about 500 BOPD.  Maha is presently securing gas offtake agreements to handle the associated gas from the anticipated increase in production.  Additional work on the facility will include upsizing existing oil and gas handling equipment such as treaters and separators.  Facility work is expected to be completed during the second half of 2018.

Tie Field –  Bahia, Brazil

(a)        New Hydraulic Jet Pumps

Two new hydraulic jet pumps were ordered at the end of 2017.  The pump equipment is expected to be shipped from the United States at the middle of April.  Installation and commissioning is scheduled for the end of Q2 (subject to shipping and customs clearance).  The first pump will be installed on the GTE3 well, currently shut in, and will add oil production from both the Agua Grande and Sergei zones.  The second pump will be installed on the currently producing GTE4 well.  The theoretical pump capacity is over 2,000 barrels of liquids per pump

(b.1)     Attic Well

A vertical production well (the Attic Well) is planned to be drilled on the crest of the Tie structure.  The structure is a 3-way fault bounded structure that extends across multiple reservoirs.  Both the Agua Grande and the Sergei reservoirs are known to be oil bearing and the structurally high well location is expected to access previously unproduced oil and gas from both reservoirs.  Both zones are expected to be free flowing and will not initially require artificial lift

(b.2)     Attic Well Exploration Target

A deeper reservoir, and of similar size as the Sergei reservoir, the Boipeba has been mapped on 3D seismic and is located +/-250 m below the oil producing Sergei reservoir.  The Boipeba reservoir has not been penetrated on the Tie structure and hence forms a near field exploration target to the Company.  The Attic Well will be drilled in such a way so that the Boipeba can be drilled, and if applicable, tested – but at the same time safely accessing the already known oil producing Agua Grande and Sergei reservoirs.

The Attic well is scheduled to be drilled right after the 107D horizontal sidetrack, and is expected to be a free flowing oil well.

(c)       Facility Upgrade

The current production facility at the Tie field is sized to handle approximately 2500 BOPD and associated gas.  With the installation of the jet pumps and the drilling of the Attic Well, the handling capacity of the facilities must be increased.  Plans are underway to increase facility capacity to approximately 5000 BOPD and the associated gas.

(d)        Waterflood

In order to support the Tie field water flood project that commenced in October, 2017, another water supply well will be drilled during 2018.

Production

The Company expects to complete most if not all of the Capital Plan prior to year end 2018.  The exact timing of the operations is dependent upon a number of factors including delivery of long lead items, rig availability, permitting and logistics.  Depending on the results of the operations, the Company will need to find new markets and offtake arrangements for production increases.  As a minimum the Company expects to achieve, those production levels reflected in its April 2017 Five Year Capital Plan: an average annual net production of 2,040 BOPD for 2018, 3,990 BOPD for 2019 and 4,820 BOPD for 2020.

As the exact timing of operations and expected production/offtakes becomes clearer the Company will provide updated information by Press Release.

Funding of Capital Plan

The 2018 Capital Plan has budget of USD 23 million for the above projects and will be funded fully through operating cash flow and existing Company cash.

As a final comment, Jonas Lindvall said: "As you can see, 2018 is shaping up to be a very busy year for the Maha team.  The Boipeba exploration target is an exciting play and an excellent example of our core exploration philosophy – explore in close proximity to existing proven hydrocarbon accumulations. Having allocated the necessary capital and resources to these projects; I am confident we will deliver healthy results during 2018."

Adviser

FNCA Sweden AB is the Company's Certified Adviser.

For more information, please contact:

Jonas Lindvall (CEO)

Tel: +1 403 454 7560

Email: jonas@mahaenergy.ca

or

Ron Panchuk (CCO)

Tel: +1 403 454 7560

Email: ron@mahaenergy.ca

Miscellaneous

This information is published in accordance with the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact persons set out above on February 22, 2018, at 7:00 am CET.

Maha in Brief

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

Maha Energy Reserve Update 02202018 FINAL

—
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 Reserve Update 02202018 FINAL

Maha Energy AB (publ)

Biblioteksgatan 1

SE-111 46 Stockholm

www.mahaenergy.ca

Press release

Stockholm

February 20, 2018

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

Maha Energy AB (The "Company" or "Maha") announces an 11% increase in proven reserves (1P) and a 26% increase in proven and probable reserves (2P) in recent Reserve Report:

Chapman Petroleum Engineering Consultants has completed their annual reserve determination for the Company.  Maha is pleased to report an 11.4% increase in Proven Reserves, a 25.6% increase in Proven plus Probable reserves (2P) and a 44.1% increase in the Proven plus Probable plus Possible Reserves (3P) from the reserves reported for each of its assets as at year end December 31, 2016.[1]

Maha Reserves2 As at 31 December, 2017

[1] LAK Ranch was owned by Maha as at December 31, 2017.  Maha acquired Tartaruga Field in January 2017 and Tie Field in July 2017.  The December 31, 2016 reserves for each asset are reported in the Company's Prospectus dated 26 July, 2017.

[2] The Tie Field reserve volumes are expressed in BOE's of which approximately 91% is oil, and 9% is natural gas expressed as oil equivalents.  LAK Ranch and Tartaruga reserve volumes are in barrels of oil. Volumes are Gross Net to Maha Energy AB and are expressed in BOE's before royalties and taxes.

[3] The Tartaruga Concession Agreement expires in 2025 but provides mechanisms for extension based on the continued productivity of the field.  Management is confident such an extension will be available.  The reserves stated in the above table assume that an extension is granted.  The following reserve volumes are attributable to the extension period : P :- 2.20 m bbls, 2P :- 4.99 m bbls and 3P:- 16.58 m bbls

[4] 6,000 scf of natural gas is considered as 1 Barrel of Oil Equivalent (BOE)

Jonas Lindvall, CEO of Maha Energy commented: "Maha's asset base is shaping up nicely and we are pleased to see that the geophysical and petrophysical work we undertook during 2017 has resulted in an increase in the proven and probable reserves of our Brazilian assets."

The reserves review and issuance of this reserve report for the Company was by the independent petroleum engineering consultants Chapman Petroleum Engineering ("Chapman"), Calgary, Canada. The report has been calculated in accordance with the standards set out in the Canadian Oil and Gas Evaluation Handbook (COGEH), compliant with the National Instrument (NI)-51-101 standards and the professional practice standard under the Permit to Practice.

Maha Energy AB, through its subsidiaries owns and operates a legal and beneficial 75% working interest in the SES-107D Block (Tartaruga) onshore Sergipe State, Brazil, a 99% working interest in the LAK Ranch heavy oil field in Wyoming, USA and a 100% working interest in the Tie Field, onshore Bahia State, Brazil.

About reserves

Reserves are estimated remaining quantities of oil and natural gas and related substances anticipated to be recoverable from known accumulations, as of a given date, based on:

• analysis of drilling, geological, geophysical, and engineering data,
• the use of established technology, and
• specified economic conditions, which are generally accepted as being reasonable, and shall be disclosed

 Reserves are classified according to the degree of certainty associated with the estimates.

Proved reserves are those reserves that can be estimated with a high degree of certainty to be recoverable. It is likely that the actual remaining quantities recovered will exceed the estimated proved reserves.

Probable reserves are those additional reserves that are less certain to be recovered than proved reserves. It is equally likely that the actual remaining quantities recovered will be greater or less than the sum of the estimated proved + probable reserves.

Possible reserves are those additional reserves that are less certain to be recovered than probable reserves. It is unlikely that the actual remaining quantities recovered will exceed the sum of the estimated proved + probable + possible reserves.

Adviser

FNCA Sweden AB is the Company's Certified Adviser.

For more information, please contact:

Jonas Lindvall (CEO)

Tel: +1 403 454 7560

Email: jonas@mahaenergy.ca

or

Ron Panchuk (CCO)

Tel: +1 403 454 7560

Email: ron@mahaenergy.ca

Miscellaneous

This information is published in accordance with the EU Market Abuse Regulation and/or the Swedish Financial Instruments Trading Act. The information was submitted for publication through the agency of the contact persons set out above on February 20, 2018, at 8:00 pm CET.

Maha in Brief

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

Important Information

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

Maha Energy Reserve Update 02202018 FINAL

—
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 Reserve Update 02202018 FINAL

Maha Energy AB (publ)

Biblioteksgatan 1

SE-111 46 Stockholm

www.mahaenergy.ca

Press release

Stockholm

February 2, 2018

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

Maha Energy AB (publ) ("Maha" or the "Company") Announces January Production Volumes

The Company's aggregate sales production for the month of January totaled 50,5501 barrels of oil and 38.701 million scf of gas for a combined average production of approximately 1,839 BOE/day2, before royalties and taxes.

1Subject to minor standard industry adjustments at the time of custody transfer.

2Barrels of oil equivalent ("BOE") conversion ratio of 6,000 scf : 1 bbl is used.

Adviser

FNCA Sweden AB is the Company's Certified Adviser.

For more information, please contact:

Jonas Lindvall (CEO)

Tel: +1 403 454 7560

Email: jonas@mahaenergy.ca

or

Ron Panchuk (CCO)

Tel: +1 403 454 7560

Email: ron@mahaenergy.ca

Miscellaneous

The information was submitted for publication through the agency of the contact persons set out above on February 2, 2018, at 7:00 am CET.

Maha in Brief

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

Important Information

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

2018-02-02 Production Numbers

—
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

2018-02-02 Production Numbers