Press Release

Stockholm

September 16, 2017

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

Maha Energy AB (publ) announces its Annual Autumn Shareholder Presentation on 3 October, 2017

Maha Energy AB ("Maha") is pleased to invite all of its shareholders to its Annual Autumn Shareholder Presentation to take place at 17:30 on 3 October, 2017.

The presentation by Maha's President and Chief Executive Officer, Jonas Lindvall, will focus on the recently acquired Brazilian assets, recent financing activities, current operations and production, the Q2 Report and future plans for the Company and its assets.

Mr. Lindvall, and the entire Board of Directors will be present and will be available for questions afterwards. The presentation will be broadcast live through the internet (see www.mahaenergy.ca for the link).

Drinks and canapes will be offered after the presentation. Interested members of the investment community are welcome.  Maha looks forward to seeing you there.

Date:               3 October, 2017

Venue:            Setterwalls Advokatbyra, Sturegatan 10, Stockholm.

Program:

17:15 – 17:30 Registration

17:30 – 18:30  Presentation

18:30 – 20:00  Q&A and informal discussions

For additional information regarding the event please visit our website www.mahaenergy.ca

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 September 16, 2017, 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.

Press Release ENG
Press Release 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

Press Release ENG

Press Release SWE

Press Release

Stockholm

September 7, 2017

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

Maha Energy AB Announces Issuance of Compliance Certificate

Maha Energy AB (publ) ("Maha" or the "Company") has issued a Compliance Certificate for the reference date of June 30, 2017 in accordance with the terms and conditions of the SEK 300,000,000 bond financing issued on May 29, 2017.

The Compliance Certificate has been attached to this press release and is available on the Company's website at www.mahaenergy.ca.

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 September 7, 2017, 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.

Maha Energy AB Press Release – Compliance Certificate
Maha Energy Compliance Certificate – Ref June 30 2017

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

Maha Energy AB Press Release - Compliance Certificate

Maha Energy Compliance Certificate - Ref June 30 2017

Maha Energy AB (publ)

Biblioteksgatan 1

SE-111 46 Stockholm

www.mahaenergy.ca

Press Release

Stockholm

September 4, 2017

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

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

The Company's aggregate sales production for the month of August totaled 45,877 barrels of oil and 21.249 million scf of gas for a combined average production of approximately 1,594 BOE/day1, before royalties and taxes.

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

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 September 4th, 2017, 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.

Maha Energy AB Press Release Sept 4

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

Maha Energy AB Press Release Sept 4

Press release

Stockholm

August 28th, 2017

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

Maha Energy AB Announces Date for Q2 Webcast and operational update

Maha Energy AB (publ) ("Maha" or the "Company") is pleased to announce that a live webcast will be held on August 30 at 1800 CET (Stockholm time) to review and discuss the 2nd Quarter Financial Results and to provide an operational update.  The webcast will be broadcast live on Maha Energy's Youtube Channel and will be hosted by Maha Energy's CEO Jonas Lindvall and Maha Energy's CFO Andres Modarelli.

Questions should be e-mailed to info@mahaenergy.ca in advance.  Questions will be answered time permitting.

Please visit www.mahaenergy.ca for the Youtube link.

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 August 28th, 2017, 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.

Maha Energy AB Press Release Webcast

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

Maha Energy AB Press Release Webcast

Press release

Stockholm

1 August, 2017

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

Maha Energy AB (publ) ("Maha" or the "Company") Announces anOperational and Production Update; theAppointment of New Senior Management; and the Listing of Bonds

Operational Update

The Company's aggregate production for the month of July totaled 50,574 barrels of oil and 20.973 million scf of gas for a combined average production of approximately 1,751 BOE/day[1], before royalties and taxes which includes production from Maha's newly acquired Tie Field in Brazil from July 1, 2017.

Brazil

Production volumes from the Tartaruga field are reduced due to a downhole leak in the completion string on the 7-TTG well.  The leak was identified in May and testing is scheduled for the beginning of August to pinpoint the problem and thereafter determine a solution.  High fluid levels in the well and the abrupt reduction in production suggests a mechanical downhole problem as opposed to reservoir decline.  It is estimated the production from the 7-TTG well has been halved because of this.   Meanwhile, the recently worked over 107 D well continues to produce at expected levels.

The Tie field produces on natural flow from two zones from a single well.  During the month of July, additional crude oil was sold to a new customer which allowed the production to be increased during the first half of the month, however, crude oil production had to be reduced during the second half of the month due to gas handling issues which are being resolved.  August production is expected to increase to satisfy the demand for oil in the area.  July was a historical record month for crude oil production at the Tie Field.

A pressure maintenance project on the Tie Field in the form of water injection into both reservoirs is almost complete and is scheduled to commence in September.  Water re-injection is beneficial to the total recovery of crude oil from the field.

USA

The LAK Ranch hot water flood has now been in place for 2 months. Oil production from 12-21 has tripled as a result of the water flood, although overall fluid production remains below expectations at this point.  Conversely, 12-18 is now producing expected fluid rates, but oil production is roughly half of what is common and expected in the field.  Overall, the same level of production is maintained from half the number of wells to pre waterflood production.  Additional gains are expected over the next few months, as the total fluid production on 12-21 increases.

Up-time has increased substantially at LAK during the past 12 months, which has translated to an increase in oil production per well compared to previous periods.

Jonas Lindvall, CEO of Maha commented: "Things are going very well in Brazil and we are particularly happy with the ability to ramp up production ahead of schedule. This is in no small part due to the hard work of our new team members in Brazil, and we wish to welcome them all into Maha."

Senior Management

Following the previously announced closing of the acquisition of the Brazilian operations of Grant Tierra Energy Inc. on July 1, 2017, the Company is pleased to confirm the following appointments to its senior management team in Calgary and Brazil.

Andres Modarelli (38) – Chief Financial Officer ("CFO"), Calgary

Andres Modarelli is a finance and accounting professional with over 17 years of experience, having held senior positions within Canadian private and publicly listed oil and gas companies operating domestically and internationally. Most recently, Andres consulted for Canadian E&P Tourmaline Oil Corp. following their acquisition of Mapan Energy Ltd. in 2015, where he was a cofounder and the Controller. Prior to that, Andres was interim CFO for Platino Energy Corp. and VP of Finance for C&C Energia Ltd., both E&P companies with operations in South America. Andres articled with Deloitte and has CPA designations in Canada and Argentina. He holds bachelor degrees in Commerce and Business Administration from the Pontifical Catholic University of Argentina.

Mark Hopkins who has been serving as Interim CFO for the past nine months returns to his full time employment at S.B. Navitas Tubular Inc.  The Company would like to thank Mark for his contribution during this busy time.

Robert Richardson (50) – Chief Operating Officer ("COO"), Calgary

Robert Richardson has over 25 years of diversified energy experience with an extensive background in management and engineering. His diversified experience includes conventional oil & gas, secondary, tertiary & thermal recovery, shale oil and gas, acquisitions, CHOPS and renewable energy. Robert's leadership has been seen in projects such as managing the development of CNRL's Pelican Lake field from pilot to becoming one of the largest polymer floods in the world. He has a B.Sc. Engineering from the University of Alberta, a Masters Degree in Energy Business and an Engineering Science Technology Diploma from SAIT. He is a member of APEGA & Beta Gamma Sigma.

Robert replaces Tom Walker who has left his employment with Maha Energy (US) Inc. to pursue other opportunities.  The Company thanks Tom for his contribution to Maha Energy.

Luciana Borges (39) – Finance & Administration Director, Brazil

Luciana Borges has 16 years experience as a Business Administration professional with focus on Finance, in the oil and gas industry.  Luciana has been Controller of Gran Tierra Energy Brasil since 2013 with direct responsibility for finance, treasury, planning and budgeting with strong SOX compliance skills. Prior to joining Gran Tierra in 2012, Luciana worked with international oil and gas companies for over 10 years, and two years with an independent audit company.  Luciana obtained a degree in Business Administration and a post graduate degree in Finance from the Federal University of Rio de Janeiro as well as a Master of Business in Petroleum from COPPE Institute.

Kleber Almeda (45) – Operations Director, Brazil

Kleber Almeida has over 16 years experience in the oil and gas industry.  Kleber has a Bachelor of Science in Statistics from Statistics School of Bahia state (ESEB), Mechanical Engineer from UNIFACS/Laureate International Universities and a degree in Petroleum Engineering from Federal University of Bahia state (UFBA).  Kleber was the Operations Director of Gran Tierra Energy Brasil since 2014.  Prior to joining Gran Tierra he has worked with national and international oil and gas companies for over 12 years.

Leticia Sa (41) – Regulatory Manager, Brazil

Leticia Sa has 20 years experience in Accounting, Planning, Budget, Direct Taxes and Regulatory areas, including 17 years with international e&p companies, such as: Gran Tierra, El Paso and Unocal. Leticia graduated in Accountancy (CA equivalent) at Federal Fluminense University – UFF, and obtained postgraduate degrees in Business Law by Catholic University of Rio de Janeiro – PUC (in course) and Petroleum & Gas Executive by Federal University of Rio de Janeiro – UFRJ/COPPE.  Leticia currently acts as liaison between the Company and ANP (Agencia Nacional do Petroleo).

Listing of Bonds and Warrants

Maha issued a senior secured bond loan of SEK 300,000,000 on 29 May 2017, within a total framework amount of SEK 500,000,000, on the Swedish bond market together with 13,350,000 warrants for Class A shares of Maha, whereby each Warrant has a strike price of SEK 7.45 and a warrant period of four years, issued on 5 June 2017.

In this connection a prospectus was approved by, and registered with, the Swedish Financial Supervisory Authority in accordance with the Financial Instruments Trading Act (1991:980) on July 27, 2017. The prospectus is available on the Financial Supervisory Authority's website (www.fi.se) and on Maha's website (http://www.mahaenergy.ca)

The Corporate Bond has been admitted for trading on Nasdaq Stockholm effective Friday, July 28, 2017.  The Warrants have been admitted for trading on Nasdaq First North effective Monday, July 31, 2017.

Advisers

FNCA Sweden AB is the Company's Certified Adviser.

For more information, please contact:
               
Jonas Lindvall (CEO)
Tel: +1 403 454 7563        
Email: jonas@mahaenergy.ca

or

Ron Panchuk (CCO)

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

Miscellaneous

This information is published in accordance with the EU Market Abuse Regulation and/or the Swedish Financial Instruments Trading Act. The information was submitted for publication through the agency of the contact persons set out above on 1 August 2017, at 0801 CET.

Maha in Brief

Maha Energy AB is a Swedish public limited liability company.  FNCA Sweden AB has been engaged as Certified Adviser.  The Company's auditors are Deloitte.  The Company's predecessor Maha Energy Inc. was founded in 2013 in Calgary, Canada, by Jonas Lindvall and Ron Panchuk. In May 2016, the new group was formed with Maha Energy AB as parent company for purposes completing an initial public offering on the NASDAQ OMX First North Sweden stock exchange.  Jonas Lindvall is the CEO and Managing Director.  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.

—

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

Maha Energy AB Press Release August 1 2017

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

Maha Energy AB Press Release August 1 2017

Press release

Stockholm

26 July 2017

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

Maha Energy AB (publ) publishes bond prospectus and applies for listing of its bonds on Nasdaq Stockholm

Maha Energy AB (publ) ("Maha") issued on 29 May 2017 a senior secured bond loan of SEK 300,000,000, within a total framework amount of SEK 500,000,000, on the Swedish bond market together with 13,350,000 warrants for Class A shares of Maha, whereby each Warrant has a strike price of SEK 7.45 and a warrant period of four years, issued on 5 June 2017.

Maha will apply for listing of the bonds on the Corporate Bond list at Nasdaq Stockholm. The bonds will be admitted to trading at Nasdaq Stockholm as soon as possible.

In connection with this, Maha has prepared a prospectus. The prospectus has been approved by, and registered with, the Swedish Financial Supervisory Authority in accordance with the Financial Instruments Trading Act (1991:980). The prospectus will be available on the Financial Supervisory Authority's website (www.fi.se) and on Maha's website (http://www.mahaenergy.ca/).

For more information, please contact:
               
Jonas Lindvall (CEO)
Tel: +1 403 454 7563        
Email: jonas@mahaenergy.ca

or

Ron Panchuk (CCO)

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

Miscellaneous

This information is published in accordance with the EU Market Abuse Regulation and/or the Swedish Financial Instruments Trading Act. The information was submitted for publication through the agency of the contact persons set out above on 26 July 2017, at 6:15 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 OMX First North Sweden stock exchange.  Jonas Lindvall is the CEO and Managing Director.  Maha's strategy is to target and develop underperforming hydrocarbon assets on 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 AB Press Release July 26, 2017 (Swedish)
Maha Energy AB Press Release July 26, 2017
Maha Energy AB – Prospekt

—
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 - Prospekt

Maha Energy AB Press Release July 26, 2017 (Swedish)

Maha Energy AB Press Release July 26, 2017

Press release
Stockholm
1 July 2017

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

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

Closing of Acquisition of Gran Tierra's Brazilian Operations

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

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

Below are certain transaction highlights relating to the transaction.

Key Transaction Highlights2

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

Maha Energy Post Acquisition

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

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

Advisers

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

For more information, please contact:

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

or

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

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

Maha in Brief

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

Important Information

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

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

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

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

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

[5] Maha management estimate

2017-07-01 Maha Energy AB Closing Press Release

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

2017-07-01 Maha Energy AB Closing Press Release

Press release

Stockholm

June 2, 2017

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

Maha Energy AB announces outcome in fully guaranteed rights issue

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

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

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

Advisers

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

For more information, please contact:

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

or

Ron Panchuk (CCO)

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

Miscellaneous

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

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

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

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

Maha Press Release-Outcome of Rights Issue

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

Maha Press Release-Outcome of Rights Issue

Press release

Stockholm

June 1, 2017

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

Maha Energy AB Announces Resubmission of Q1 Financial Statement Press Release

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

First Quarter 2017

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

Highlights of First Quarter 2017

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

Letter to Shareholders

Dear Friends and Fellow Shareholders of Maha Energy AB,

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

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

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

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

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

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

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

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

We thank you for your continued support.

Jonas Lindvall
Managing Director and CEO

Adviser

FNCA Sweden AB is the Company's Certified Adviser.

For more information, please contact:

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

or

Ron Panchuk (CCO)

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

Miscellaneous

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

Maha in Brief

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

Important Information

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

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

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

Maha Financials Q1 2017

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