Press release
Stockholm
29 May 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 Announces Filing of First Quarter Report

Maha Energy AB (publ) ("Maha" or the "Company") has today released its first quarter results.  The report is attached to this press release and available on the Company's website at www.mahaenergy.ca.

First Quarter 2018

• Daily oil & gas production for the first quarter averaged 1,762 BOEPD (Q1 2017: 115 BOEPD)
• Revenue of USD 8.6 million (Q1 2017: USD 0.5 million)
• EBITDA of USD 4.5 million (Q1 2017: USD -1.0 million)
• Result for the period of USD 2.3 million (Q1 2017: USD -1.3 million)
• Earnings per share of USD 0.02 (Q1 2017: USD -0.02)
• Operating netback of USD 5.9 million or USD 37.02 per barrel (Q1 2017: TUSD -9 or -1.17 per barrel)

[1] Q4 2017 figures include previously disclosed changes to the 2017 Fourth Quarter Report in April 30, 2018 press release
2 Includes positive adjustment of TUSD 1,423 in relation to FY 2017. Result for the Q4 2017 period before adjustment was $1,059 and Earnings per share of 0.01

Letter to Shareholders

Dear Friends and Fellow Shareholders of Maha Energy AB,

When the Gran Tierra Brazil operations acquisition closed in July of last year, Brent oil price was USD 48/bbl. The investment decision was easy because the acquisition made great sense even at those oil prices. The average Brent oil price for the quarter was USD 66.86/bbl. The math is simple – the rising oil price has greatly increased Maha's value and cash flow.

Maha's Strong Current Financial/Cash Position
Maha closed Q1 with a very strong available cash position of USD 22.8 million (USD 4.0 million more than what we started the year with). The 2018 Capital Plan is expected to be fully funded out of current cash flow – so barring the unforeseen this cash position should remain intact. Our Q1 2018 EBITDA is up over 54% from Q4 2017 – at USD 4.6 million. Maha's Q1 profit (after tax and finance costs) is USD 2.3 million.

Our shareholders will recall to fund the GTE Acquisition Maha issued a 300 million SEK Bond. A quick health check shows Maha has at the end of Q1 USD 22.8 million (SEK 190 million) in cash against total debt of SEK 300 million. Once the 2018 production expansion program is complete this cash balance should increase.

2018 Capital Budget Proceeding – On Track
At the Tie Field we are preparing the currently non-free flowing GTE-3 oil well to accept artificial lift. A workover will be required to recomplete the well with a jet pump, and all equipment for this has been ordered. This work is scheduled for June, although we are still awaiting some specialty equipment that will be brought in from Canada and the USA. Immediately after drilling the 107D horizontal sidetrack on Tartaruga, we will mobilize the same drilling rig to travel the 350 km from Tartaruga to Tie in order to drill a new producing well (the "Attic" well). The Attic well is anticipated to be spudded in August. The Attic well will also explore the previously undrilled Boipeba structure, which could contain oil.

When the work on the Tie field is completed towards the end of Q3, we will have 3 producing wells, instead of one. This is very beneficial not only because it will increase production, but it also allows for a more uniform pressure drawdown on the field. Hand in hand with the field work at the Tie Field, Maha is securing both gas and oil sales contracts for the incremental volumes expected from the three wells.

At Tartaruga Field, all is in place for operations to commence during the second quarter. Work has already started on the 7TTG well, where the 7TTG well will be recompleted and the previously untapped P1 and P4 sands will be perforated and placed on comingled production with the P6 sand. After changing out the small 1-1/2" tubing completion with a larger and more robust 2-7/8" completion, a dedicated jet pump will be installed. Previously a single jet pump powered both the 7TTG and 107D wells. This work will be completed during the second quarter of this year.

Once the 7TTG well is completed, a larger drilling rig will be moved in to re-enter and sidetrack the 107D producing well. We will again target the P1 sand, but in a more optimum structural position, and using horizontal drilling technology. Using horizontal drilling technology, we will expose over 400 m. of producing reservoir, compared to the existing +/- 15 m in a vertical well.

At LAK Ranch we started planning and contracting for the completion of Phase 3. Phase 3 was interrupted in 2015/16 due to low oil prices, but results from existing wells are promising and we are therefore going to drill the remaining 6 injectors and 2 horizontal producers. Spudding of the wells are expected in September this year and work is expected to take 8 weeks to complete. Upon completion of Phase 3, LAK will be netback positive, meaning that production will generate extra cash to allow further growth through internally generated cash flow.

Room for Growth
As has been previously presented – Maha has 6 blocks in the oil prone Reconcavo basin, the development potential at the Tie Field, 27 stacked sands at Tartaruga (of which 23 remain untested) and the substantial oil in place at LAK Ranch (at the shallow depth of 350 m). It is clear Maha has plenty to do and room to grow within its own suite of assets.

Website
Finally, I encourage you to visit our fresh new website and our YouTube channel. We post almost daily video clips of how work is progressing in the field.

We thank you for your continued support.

"Jonas Lindvall"
Managing Director

Webcast
There will be a live webcast today, May 29 at 1600 CET (Stockholm time) to review and discuss Maha Energy's First Quarter 2018 results and to provide an operational update. The webcast will be broadcast live on Nyhetsbyrån Direkts Youtube Channel and will be hosted by Laikas Mr. Mats Jonsson and will feature Maha Energy's CEO Jonas Lindvall and Maha Energy's CFO Andres Modarelli. For further details please consult the Company's 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

or

Andres Modarelli (CFO)
Tel: +1-403-454-7560
Email: andres@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 May 29, 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.

Maha Energy AB Press Release – Q1 2018
2018_Q1 Report

—
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 - Q1 2018

2018_Q1 Report

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

Press release
Stockholm
27 February 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 Announces Filing of Fourth Quarter and Year end 2017 Report

Maha Energy AB (publ) ("Maha" or the "Company") has today released its fourth quarter and 2017 year-end report.  The report is attached to this press release and available on the Company's website at www.mahaenergy.ca.

Fourth Quarter 2017
· Daily oil & gas net production for the fourth quarter averaged 1,597 BOEPD (Q4 2016: 44 BOEPD)
· Revenue of USD 6.9 million (Q4 2016: USD 0.047 million)
· EBITDA of USD 3 million (Q4 2016: USD -1.1 million)
· Result for the period of USD 1.1 million (Q4 2016: USD -0.087 million)
· Earnings per share of USD 0.01 (Q4 2016: USD 0.00)
· Operating netback of USD 31.77 per barrel (Q4 2016: N/A)
· The Company initiated post-acquisition consolidation of the Brazilian operations by closing the Aracaju office and reducing its staff 
· Subsequent to year end, the Company received proceeds of USD 1.7 million (SEK 13.3 million) for the exercise of 2,074,717 Maha-A TO 1 Warrants at a strike price of SEK 6.40 prior to expiry on January 15, 2018 (representing approximately one third of all of the IPO related Warrants outstanding)

12 Months 2017
· Total Production for the year: 334,579 BOEs compared to 16,838 BOEs for the same period 2016 
· Revenue of USD 14.6 million compared to USD 0.3 million from Canadian discontinued operations for the same period 2016
· Net Result after tax of USD -4.3 million compared to USD -1.9 million for the same period 2016
· Net Result of USD -0.05/share for the period compared to USD -0.03/share for the same period 2016
· The Company does not anticipate any dividend distributions during 2018

Webcast
There will be a live webcast will on February 28 at 1600 CET (Stockholm time) to review and discuss the 4th Quarter Financial Results and to provide an operational update.  The webcast will be broadcast live on Nyhetsbyrån Direkts Youtube Channel and will be hosted by Laikas Mr. Mats Jonsson and will feature Maha Energy's CEO Jonas Lindvall and Maha Energy's CFO Andres Modarelli.  For further details please consult the Company's website: www.mahaenergy.ca

Letter to Shareholders

Dear Friends and Fellow Shareholders of Maha Energy AB,

We closed 2017 on a very positive note with Maha reaching a number of key milestones in an improved industry business environment. First- this is the first quarter in the history of the Company that a positive net result is reported; second- Maha's reserves continue to increase; and, third- Maha has enjoyed an increasing oil price trend that continued throughout the last quarter.

Whilst 2017 was a year of growth by acquisition; 2018 will be a year of growth through the drill bit.  Maha has a very ambitious capital budget for 2018 that should result in solid and steady growth for Maha. The key highlights for the Q4 are as follows:

· EBITDA for Q4 was TUSD 2,965  
· Net Result (after tax) for Q4 was TUSD 1,059
· Proven Reserve are up 11% at 9.5 million barrels
· Proven plus Probable Reserves are up 26% at 34.3 million barrels
· Maha produced and sold 133,619 barrels of oil during the quarter.
· Maha produced and sold 79.828 MMSCF of gas during the quarter.
· Average Daily production for the quarter was 1,597 BOEs/day
· Company Netback USD 31.77 /BOE

Reserves
With the acquisitions of the Tie Field and the Tartaruga Field, the Company is rapidly moving into a more robust stage of growth.  Along with the improving quarterly results, the Company's reserves growth reflects the Company's now solid asset foundation as shown in the graph below.

(Please see Graph in PDF attached)

Tartaruga Field: 
Petrophysical and geophysical work undertaken at the end of 2017 along with material balance analysis has provided further evidence of larger volume accumulations at Tartaruga.  The lack of water production and a steady gas oil ratio after the jet pump installation indicates larger reserves volumes than initially mapped. Remapping and an in-depth investigation of the petrophysical characteristics of the 20+ sandstone layers in the Penedo sandstone now provides for a more realistic volume model for the Pendeo sandstone.  Since only 2 of the 27 mapped sandstone layers in the  
Penedo have been placed on production and only 2 additional sandstone layers have been tested, this analysis confirms Tartaruga as a future robust production asset.

Tie Field:  
Remapping of the Tie field confirmed the Proven and Probable (2P) volumes and the revised geophysics changed the shape of the subsurface structures somewhat.  The Tie Field produced 0.48 million barrels in 2017 which resulted in slightly reduced reported Proven Reserves.  The Proven and Probable (2P) Reserves remain very similar to those of reported as at December 31st, 2016.

LAK Ranch:  
The Proven Reserves remain small (34,000 bbls), however, the very decent values for Probable and Possible reserves continue to validate this asset's potential.  Remember, the oil in place is only between 200 m – 600 m below the earth's surface.

A natural progression of the Company's assets is that reserves will continue to migrate from the Possible category into the Probable, and from the Probable to the Proven category.

The Boipeba
During the recent remapping of the Tie Field structures, a deeper structure very similar to the currently producing Sergei and Agua Grande formations was mapped.  This structurally closed sandstone formation, the "Boipeba", is a regionally producing sandstone.  The Boipeba has not been drilled on the Tie Field, and hence constitutes an excellent Near Field Exploration target.

In an effort to evenly distribute the production load over the two producing reservoirs on the Tie field, and to increase production, a new production well will be drilled on the Tie field during 2018.  The position of this production well will be placed so that the Boipeba formation can be penetrated and tested in an optimal position.  This type of drilling for Near Field Exploration targets is ideal; should the Boipeba prove to not contain oil, it will still be completed at the shallower producing intervals. Really a free shot at a significant exploration structure.  The Boipeba well will be drilled on the crest of the structure and will intersect the Agua Grande, Sergei and the Boipeba at an optimal position.

Both the Agua Grande and the Sergei formations are expected to flow to surface without the requirements for artificial lift.

As we continue into 2018, the pace of growth at Maha is expected to increase.  The capital plan (as previously announced on February 22, 2018) and work program to increase production is now well on its way and we look forward to a very busy and productive year.

We thank you for your continued support.

Jonas Lindvall
Managing Director

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

or

Andres Modarelli (CFO)
Tel: +1-403-454-7560
Email: andres@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 27th, 2018, at 5:30 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.

2017-Q4 Report and Financials
Maha Energy AB Q4 Report Press Release

—
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-Q4 Report and Financials

Maha Energy AB Q4 Report Press Release

Maha Energy AB (publ) Biblioteksgatan 1 SE-111 46 Stockholm www.mahaenergy.ca Press release Stockholm November 29th, 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 Filing of Q3 Financials Maha Energy AB (publ) ("Maha" or the "Company") has today released its Q3 Financials Statements for the quarter ended September 30, 2017.  The Q3 Financials Statements are attached and available on the Company's website at www.mahaenergy.ca. Highlights of Third Quarter 2017 · The Company closed the previously announced corporate acquisition of Gran Tierra Energy Inc.'s Brazilian business unit for TUSD 37,917 and subsequently settled final closing adjustments in its favor for TUSD 1,397, resulting in total final consideration of TUSD 36,520. · EBITDA for the third quarter was TUSD 2,259. · Daily oil & gas Company production for the third quarter averaged 1,671 BOEPD. · The Company signed additional gas offtake agreements to debottleneck production from the Tie Field in Brazil, through the sale associated gas from increased oil production volumes. Results of Third Quarter 2017 · Company sold Production of 142,975 barrels of oil and 64.8 million scf of gas for a combined average production of 1,671 BOE/day, before royalties and taxes for the period compared to 0 (zero) bbls for the same period 2016. · Revenue of TUSD 6,173 for the period compared to TUSD 0 (zero) for the same period 2016. · Net Result of TUSD (402) for the period compared to TUSD (537) for the same period 2016. · Net Result of 0.00 per share for the period compared to (0.01) per share for the same period 2016. Letter to Shareholders Dear Friends and Fellow Shareholders of Maha Energy AB, It is with pleasure Maha reports Q3 USD 2.259 million EBITDA (Earnings Before Interest, Tax, Depreciation and Amortization); the first full quarter since closing of the acquisition of Grand Tierra's Brazilian operations (the "Transaction") on July 1st 2017. This of course compares favorably with Maha's negative EBITDA of USD 1.976 million for the first half of 2017. Highlights Key highlights for the Q3 are: · EBITDA for Q3 was TUSD 2,259 · Operating Result for Q3 was TUSD 1,265 · The Gran Tierra Transaction closed on 1 July 2017. · Maha produced and sold 142,975 barrels of oil during the quarter. · Maha produced and sold 64.774 MMSCF of gas during the quarter. · Average Daily production for the quarter was 1 671 BOEs/day · Company Netback USD 25.58/BOE Positive Cashflow At closing of the Transaction Brent Oil Price was USD 47.08/bbl; Brent has since strengthened by some 20%.  This, of course, contributes positively to Maha's Q3 cash flow.   At the end of Q3, Brent oil prices were back at levels not seen since the 2014/15 when the oil commodity cycle bottomed. USD 11 million Cash Security As earlier reported, to close the Transaction, Maha (in addition to the purchase price), was required to post approximately USD 11 million as cash security for surety bonds to the Agencia Nacional do Petroleo of Brazil ("ANP") for certain work obligations and abandonment liabilities. Maha was successful in negotiating a reduction in the "cash" security it needed to place by USD 7.5 million. The effect is that Maha has now freed an additional USD 7.5 million in cash originally earmarked for the surety bond security that can be deployed in developing the Tie field, faster. As at 22 November, 2017, we settled final closing adjustments for the Transaction resulting in return of cash USD 1.4 million of the purchase price from Gran Tierra Inc. Next steps Tie Field Since the close of the transaction, we have been busy optimizing production at the Tie field, removing commercial barriers to more production, and improving our technical understanding of the asset.  Some of the key endeavors undertaken during the quarter were: · Work is under way evaluating the seismic data to better understand the connection between the main field and the undrilled southern portion. · We initiated the procurement process for the design, manufacture and installation for two separate jet pumps, one on each of the GTE4 and GTE3 wells, to boost the field's production potential.  The order was placed at the end of November, and delivery is expected during the first quarter              next year. · The plans to debottleneck production by improving the ability to handle associated gas continued during the quarter, whereby, Agreements were signed to more than double our current gas offtake capacity.  These new facilities are anticipated to be in place by the end of January next year. · The marketing team in Brazil continue to find new and imaginative outlets to sell oil production including transportation of production to out of province refineries where there is demand for the product. The expectation is oil offtake capacity will grow in harmony with increased production                  capacity.  In particular an offtake agreement was signed during the quarter to deliver 1,000 BOPD to a local refinery. · Water injection (as previously reported) is now fully installed, commissioned and operational. This pressure maintenance program will continue during 2018 with expected continuous positive results on productivity. · Finally, planning is underway to drill an additional well to reduce the overall drawdown on the reservoir and to provide an important option for gas re-injection.  Re-injecting the produced gas will help remove any future associated gas production restrictions and improve reservoir performance. Tartaruga Field Our work at Tartaruga field continues – both in relation to technical operations and administrative improvements and efficiencies: · During Q3, work to re-evaluate the difficult petrophysics has resulted in a better and more accurate petrophysical understanding of the stacked reservoirs at Tartaruga. · The technical team also completed reprocessing of the certain 3D seismic in the beach transition zone resulting in better representation of the subsurface at Tartaruga. · Negotiations are being completed to provide for commercial offtake of associated gas from the field. · Plans are now underway to workover the 7TTG producing well with the objective to improve productivity of the existing P6 sand and to open up previously unproduced zones. · The previously announced 107D horizontal sidetrack is planned for the first half of 2018. We are pleased to announce that partner and regulatory approval have now been received, however, environmental requirements limit the drilling operations to the months between April and September          of each year which contributes to some delay. · An additional and separate jet pump has been ordered for Tartaruga to allow for individualized production from each well.  Delivery is expected during the first quarter of 2018. · The Company has commenced its rationalization of the Tie and Tartaruga operations. Effective November 2017, the Aracaju office has been closed and certain local staff made redundant.  Tartaruga accounting and administration is now handled in Rio de Janeiro with existing staff and                    operations have been consolidated in the field. LAK Field Recent laboratory core flooding work along with actual LAK hot water flood results are very encouraging and plans are underway to alter and expand the current hot water flood.  As these plans are developed over the next few months, further information will be communicated with more details. As can be seen, Q3 has been a very busy quarter with multiple projects taking shape.  I am very proud of the focus and effort being put in by the Maha team in Canada, the US, and Brazil.  These efforts are now beginning to translate into tangible positive results with more to come; this all sets us up for an exceptional 2018. We thank you for your continued support. Jonas Lindvall Managing Director 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 or Andres Modarelli (CFO) Tel: +1-403-454-7560 Email: andres@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 November 29th, 2017, at 7:59 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. 2017-Q3 Financials
Maha Energy AB Press Release – Q3 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

2017-Q3 Financials

Maha Energy AB Press Release - Q3 2017

Press release

Stockholm

August 29th, 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 Filing of Q2 Financials

Maha Energy AB (publ) ("Maha" or the "Company") has today released its Q2 Financials Statements for the quarter ended June 30, 2017.  The Q2 Financials Statements are attached and available on the Company's website at www.mahaenergy.ca.

Highlights of Second Quarter 2017

• The Company completed a Bond Financing for SEK 300,000,000 to finance the previously announced acquisition of the Brazilian business unit of Gran Tierra Energy Inc. ("Gran Tierra").
• The Company completed a Guaranteed Rights Offering for gross proceeds of SEK 91,727,215 to finance the Gran Tierra acquisition.
• The Company established July 1 as the date for closing of the acquisition of the Brazilian business unit of Gran Tierra and the Closing occurred.
• Company sold Production on the Tartaruga Field increased by 115% to an average of 213 BOPD during the quarter.  The increase was primarily due to the successful workover of the 107D well which was completed during the first quarter.

Results of Second Quarter 2017

• Company sold Production of 19,393 bbls for the period compared to 0 (zero) bbls for the same period 2016
• Revenue of KUSD 995 for the period compared to KUSD 0 (zero) for the same period 2016
• Net Result of KUSD (3,626) for the period compared to KUSD (651)  for the same period 2016
• Net Result of (0.4) /share for the period compared to (0.2)/share for the same period 2016

Letter to Shareholders

Dear Friends and Fellow Shareholders of Maha Energy AB,

The Q2 financial results are very much as expected.  The additional production from the Tartaruga Field had a positive impact on our revenue, and LAK Ranch revenue continues to be capitalized (thus does not appear on the 'revenue' lines consistent with previous quarters).  What was unexpected was the quick approval by the Brazilian authorities of Maha's acquisition Gran Tierra Energy's ("GTE") Brazil operations which came early in the quarter.

In the Q1 Letter to Shareholders, I had indicated Maha was in the process of completing the financing for Maha's acquisition of 100% of GTE's Brazilian operations for a cash consideration of USD 35 million (before post closing adjustments) and the assumption of approximately USD 11 million in Government Guarantees and Letters of Credits (the "Acquisition").   I am pleased to report the Acquisition closed on 1 July, 2017 – much earlier than anticipated.  Naturally we are thrilled with this outcome.

The financing was very complicated and involved several inter-dependent steps, which were each critical path to success.  Our team worked tirelessly to ensure each part was successfully completed on time. I am very grateful to everyone involved.

In the end, the Bond and the Rights Issue closed in June and Maha received Brazil Government go-ahead earlier than anticipated. This in turn allowed closing of the Acquisition to occur straight away, with-out the necessity of tying up capital in an escrow account.  Completion of the Acquisition now positions us to focus on production from our assets and revenue.

These new blocks are in varying stages of evaluation and our work in fully understanding the subterranean details has just begun.  Part of our current work is to independently verify the previously identified prospects mapped by GTE indicating approximately 48 million barrels of potentially recoverable oil. Fortunately, modern 3D seismic is available on all the blocks as an aid in this process.

Production continued to grow during the second Quarter with Tartaruga leading the way.  Company production was up 85% compared to the first Quarter (Q2 Maha production was 22,000 bbls compared to 11,885 bbls in Q1 before all Royalties).  No major shut downs occurred during the quarter, however, the 7TTG well at Tartaruga did start to show signs of reduced production due to a suspected leak in the downhole production tubing.  Plans are underway to rectify this problem during the second half of the year.   At LAK Ranch production remained steady at 2,606 bbls of oil sold this quarter. The effects of the hot water flood are stabilizing and we see a good response in the two main production wells.  Our team at LAK expects further improvements into the next half of the year.

To conclude; the second quarter was a very busy quarter with focus on completing the complicated financing for the GTE transaction and the Acquisition.  The Company is now in a good place financially, has a world class menu of assets and with laser sharp focus and execution is expecting to enjoy production increases during the second half of the year.

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 August 29th, 2017, 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 AB Press Release – Q2 2017
2017-Q2 Financials

—
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 - Q2 2017

2017-Q2 Financials

Press release

Stockholm

May 31, 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 Q1 Financials

Maha Energy AB (publ) ("Maha" or the "Company") has today released its Q1 Financials Statements ending March 31, 2017.  The Q1 Financials Statements are attached and 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 May 31, 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 Energy AB Press Release – Q1 Financials
Maha Financials Q1 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 - Q1 Financials

Maha Financials Q1 2017

Press release

Stockholm

1 March 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 its fourth quarter and year end report ending December 31, 2016.

Maha Energy AB (the "Company" or "Maha") today announces the release of its year end report and fourth quarter report ending December 31, 2016.  The report is available hereto and on the Company's website at www.mahaenergy.ca.

Fourth Quarter 2016

· Total Production of 2,305  bbls for the period compared to 3,107 bbls for the same period 2015

· Revenue of USD 47,078 for the period compared to USD 66,669 for the same period 2015

· Net Result of USD (86,269) for the period compared to USD (2,016,897) for the same period 2015

· Net Result of (0.00)/share for the period compared to (0.05)/share for the same period 2015

Twelve Months 2016

· Total Production for the year: 11,113 bbls compared to 20,587 bbls for the same period 2015

· Revenue of USD 227,381 compared to USD 634,934 for the same period 2015

· Net Result after tax of USD (1,874,702) compared to USD (3,904,280) for the same period 2015

· Net Result of (0.03)/share for the period compared to (0.09)/share for the same period 2015

· The Company does not anticipate any dividend distributions during 2017

Subsequent Events

· Successful workover Completed on SES-107 Well in Brazil  Well tested 253 BOPD and 189 MCF of gas per day on its' own

· Agreement signed and USD 3.5 m Deposit paid to acquire Grand Tierra's Brazilian Assets and Operations

Dear Friends and Fellow Shareholders of Maha Energy AB,

Upon the Agencia Nacional Petroelo (ANP) providing its clearance, Maha completed the acquisition of UPP, (the operator) and PVEB (a joint venture partner) to acquire legal and beneficial ownership of a 75% working interest in the Tartaruga field. Maha has now transitioned the take-over of the Field level operations and completed the long-anticipated workover of the second production well (SES 107D) at Tartaruga. The results of the workover were well in line with our expectations, with total production from the field doubling.   The use of a simple hydraulic jet pump to effectively double production is an excellent example of Maha's core philosophy – adding value to underperforming assets through the implementation of modern technology.

There were serious technical challenges to overcome; the most challenging of which was excessive associated gas due to the reduced reservoir pressure.  Not unlike opening a carbonated beverage, when the pressure at the well was reduced, gas came out of the solution as small bubbles. Pumping fluid mixed with gas greatly reduces pump efficiency.  This is especially so where gas is plentiful 3,000 m below surface.   By sizing and choosing the right pumping system and doing a proper clean out the wellbore the problem was solved.

Our share price continues to do well.  During the fourth quarter our shareholding base expanded to over 5,000 shareholders. There is even a dedicated Facebook group of about 4,000 members!  Liquidity remains high and interest in Scandinavia continues to grow.   Our second largest shareholding base is in Denmark.

At LAK Ranch, Maha's 'hot water' flood continues.  During the last quarter, we saw a stabilization of production from our limited injection area and the re-pressurization of the reservoir. We have begun planning a Jet Vac procedure for 4 production wells. As these wells continue to produce below their theoretical capability, we strongly suspect serious completion and/or formation damage.  The Jet Vac procedure will achieve two objectives; (a) the clean out of flour-like coagulated oil sand that is blocking the small holes in the production tubing, and (b) reduce the bottom hole pressure so as to create Inflow Performance Curves. This will allow our technical team to predict well productivity.

Finally, we are excited about the previously announced agreement to purchase 100% of Gran Tierra Energy's (GTE) Brazilian assets.  We spent the better part of the 4th quarter negotiating the Agreement with GTE and it was finally signed in February this year. Gran Tierra has been keen to exit Brazil so they could focus on their Colombia and Mexico operations.  As Brazil accounted for less than 1/30th of GTE's production, it made more sense for them to focus on Colombia.

There are clear synergies between the GTE assets and our Tartaruga field that will result in added significant value.

It is exciting times at Maha!

Sincerely,

"Jonas Lindvall"

Managing Director and CEO

For more information, please contact:

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

or

Ron Panchuk

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

Miscellaneous

This information is published in accordance with the EU Market Abuse Regulation and/or the Swedish Financial Instruments Trading Act. The information was submitted for publication through the agency of the contact persons set out above on 1 March 2017, at 8:01 a.m. CET.

Maha in Brief

Maha Energy AB is a Swedish public limited liability company. Setterwalls Advokatbyrå AB acts as legal adviser to the Company. FNCA Sweden AB has been engaged as Certified Adviser.  The Company's auditors are Deloitte.

The Company's predecessor Maha Energy Inc was founded in 2013 in Calgary, Canada, by Jonas Lindvall and Ron Panchuk. In May 2016, the new group was formed with Maha Energy AB as parent company for purposes of the Offering and the planned listing. Jonas Lindvall, CEO and Managing Director, has 26 years of international experience in the oil and gas industry, starting his career with Lundin Oil during the early days of E&P growth.  After 6 years at Shell and Talisman, Jonas joined, and helped secure the success, of Tethys Oil AB. Maha's strategy is to target and develop underperforming hydrocarbon assets on global basis. The Company operates two oil-fields, Tartaruga in Brazil and LAK Ranch, in Wyoming, US. For more information, please visit our website www.mahaenergy.ca.

Important Information

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

PRESS RELEASE February 2017 Q4 and year end report
Maha Q4 and year end report December 31 2016

—
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 February 2017 Q4 and year end report

Maha Q4 and year end report December 31 2016

                                                                               
Press release
Stockholm
29 November 2016

This press release is not for release, publication or distribution, directly or indirectly, in or into Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa, Switzerland or the United States, or in any other jurisdiction where distribution of this press release could be illegal or subject to legal restrictions. See also section IMPORTANT INFORMATION below.
                                                                                                                  
Maha Energy AB announces its third quarter and nine months ending September 30, 2016 report.

Maha Energy AB (the "Company" or "Maha") today announces the release of its third quarter and nine months ending September 30, 2016 report.  The report is available hereto and on the Company's website at www.mahaenergy.ca.

Listing on Nasdaq First North Stockholm

On July 29, 2016, Maha Energy AB's class A shares (trading symbol Maha A) and share purchase warrants (trading symbol Maha A TO 1) commenced trading on the Nasdaq First North Stockholm stock exchange.  Concurrent with the listing on the First North stock exchange, the Company completed a financing (the "Offering") at 19 SEK per unit whereby each unit consisted of 4 Class A shares and 1 share purchase warrant.  The Company raised SEK 108.0 million SEK (US$ 12.6 million as at final closing date, August 5, 2016 US/SEK exchange rate 8.56) in cash proceeds and issued 6,204,963 units (24,819,852 A-Shares and 6,204,963 share purchase warrants) including 513,010 units  that were issued to the guarantor group as payment of 9% fees owed under the guarantee agreements.

The Company intends to use the proceeds from the Offering along with the existing working capital to:

• fund the acquisitions in Brazil;
• fund drilling and workover operations in Brazil;
• start the initial phase 3 development at the Company's LAK asset in Wyoming;
• fund general and administrative expenses.

Share data

As at September 30, 2016 the Company had 68,078,782 shares outstanding of which 54,469,388 were class A shares, 13,609,394 were class B shares.  In addition, Maha (Sweden) issued 4,592,527 convertible class C shares (C1 and C2).  In the event that the existing Maha (Canada) stock options and warrants are exercised these convertible class C shares will be redeemed and exchanged for Maha (Sweden) Class A shares.  In the event that the Maha (Canada) stock options and warrants are not exercised, the convertible class C shares will be redeemed and cancelled.

On November 2, 2016, the Company issue 484,212 new shares of class A at fixed price of SEK 10.25 per share of class A (i.e. in total SEK 4,963,173). The shares were issued as a result of a breach in the Guarantor's agreement which required the new shares to be "locked up" until January 29, 2017.

Subsequent to September 30, 2016, 1,468,599 Convertible B-Shares were converted into Maha (Sweden) A-Shares.  As a result of this conversion the total number of Maha (Sweden) A-Shares and Convertible B-shares did not change.

On November 17, 2016 1,742,887 Maha (Canada) share purchase warrants, with an exercise price of US$1.75 (approximately SEK 16) expired.  As such, 1,742,887 of the Convertible class C1 shares will be redeemed and cancelled.

On November 9, 2016 100,000 Maha (Canada) stock options with an exercise price of $0.45 were exercised and a 100,000 Maha (Sweden) A-Shares were issued along with a corresponding retraction of the convertible class C2 shares

As at November 29, 2016, the number of shares outstanding is as follows:

(1)  Retraction of convertible class C1 andC2 shares is subject to completion of the retraction process which as at November 29, 2016 had commenced but not formerly been registered with the Swedish Companies Registration Office.

A full description of the class A and convertible class B and C shares can be found in note 10 to the third quarter and nine months report ending September 30, 2016.

Brazil Acquisitions

On March 10, 2016, the Company entered into a definitive purchase and sale agreement with a private, Texas based company, which has a 37.5% working interest in the Tartaruga development block, located in the Sergipe Alagoas Basin of Brazil and is the designated operator of the block.  The acquisition is subject to the approval of the Brazilian Government and the Brazilian National Oil Agency ("ANP").  The Company has paid a refundable deposit in the amount of US$ 500,000.

On January 18, 2016, the Company entered into a definitive purchase and sale agreement with Petro Vista Energy Corp whereby the Company will acquire an additional non-operated 37.5% working interest in the Tartaruga development block.  The acquisition price of CAD $2.5 million will be paid in equal installments with the first payment upon successful approval of the transaction by the Brazilian Government and ANP and the second payment by December 2016.  Maha has also entered into a loan agreement with Petro Vista Energy Corp whereby funds were provided for Petro Vista to resolve outstanding joint interest billings for up to $815,500.  $750,000 of the loan will form part of the acquisition purchase price in the event of closing while the remaining amount will be deducted from the first installment.

Upon closing of the two acquisitions, the Company would be the operator and hold a 75% working interest in the Tartaruga Block.

Executive Team

The Company is pleased to announce the appointment of Mr. Tom Walker, P.Eng. as the Company's Chief Operating Officer.  Mr. Walker brings to the Company an impressive background of artificial lift and heavy oil experience.  Tom received his degree in Petroleum Engineering from the Colorado School of Mines in 1989. Tom started in the industry with ARCO Alaska Inc. followed by Occidental Petroleum in 2000, until 2008.  At Occidental, Tom worked in several senior positions in California, Qatar and later Oman where he led a major steam assisted heavy oil development.  Since 2008 Tom has worked on projects in Colorado, Wyoming North Dakota, Montana and Utah.

Mr. Walker's extensive experience in artificial lift technologies, water floods and other enhanced oil recovery technologies will be a significant asset to the Company.  Tom is a Licensed Professional Engineer in the States of Colorado, Wyoming, Utah, California, North Dakota and Alaska.

Jonas Lindvall, CEO of Maha Energy commented:

"We are thrilled to have Tom join our executive team. His international background and extensive experience in enhanced oil recovery technologies will serve the Company well and enhance the skill set of our technically driven team.

Tom will replace Dan Thompson who is stepping down to focus on his retirement.  We are very grateful to Dan for his spirited guidance and his service to the Company.  Dan will continue on as an advisor to the Board and management of Maha (and a significant shareholder) so that we can continue to tap into Dan's 45+ years of industry experience.

Thanks very much Dan – and good luck in your retirement."

Results of operations

Canadian Assets

For the nine months ended September 30, 2016, the Company generated revenue of $180,304 on an average sales volume of 32 boepd compared with $559,273 of revenue during the nine months ended September 30, 2015 from an average of 62 boepd.  Lower production volumes were a result of lower field activity due to a change in operatorship and lower oil prices.

The crude oil produced from the Manitou and Marwayne areas is 12° API.  The Canadian Assets produced a total of 8,808 barrels net to Maha in the first nine months of 2016. The average price received was CAD $26.96

Operating costs associated with the Canadian Assets were $149,487 for the nine months ended September 30, 2016 compared with $312,517 for the comparable period ended September 30, 2015. Lower operating costs in 2016 were due to lower field activity.

In July 2016, the operator of the Canadian Assets, which had been in receivership since February 2015, was purchased by a Canadian Company.  The new operator has indicated that field activity will increase during the second half of 2016 as they seek to increase production from existing wells by way of workovers.

LAK Ranch

As at September 30, 2016, the LAK Ranch asset is considered to be in the pre-production stage and is currently undergoing delineation and pre-development work.  As such, operating costs net of revenues since the commencement of operations have been capitalized as part of the exploration and evaluation costs.

The LAK field was shut in starting April 2016 and remained shut in until August 2016, primarily due to low oil prices and the requirement for reservoir pressure maintenance. During the shut-in period, the Company commenced the capital investment to allow for produced water recycling, which is critical for handling of produced water and re-injection of water for pressure maintenance.  The project was completed in August and production from a limited number of wells was re-established by the end of August 2016.

Technical work completed during 2015 has now laid the groundwork for the full field development plan. The full field development plan contemplates hot water injection, rather than steam playing a more significant role than originally anticipated. The extra cost of hot water injector wells are far offset by the elimination of steam requirements. The field development plan was evaluated by the Company's
independent reserve auditors, and the Company reserves for LAK Field at the end of November 2015 were 12.9 million barrels of oil (Proven and Probable (2P)).

General and administrative

During the nine months ended September 30, 2016, general and administrative ("G&A") costs were $1,187,485 compared to $999,992 for the same period September 30, 2015.

Transaction costs

During the nine months ended September 30, 2016, the Company incurred $435,972 in transaction costs which primarily related to marketing fees associated with the listing on Nasdaq First North and professional fees associated with the Brazil acquisition.

Stock-based compensation

Stock based compensation expense for the nine months ended September 30, 2016 was $115,171 similar to $118,493 for the comparable period September 30, 2015.

This report has not been subject to review by the auditors of the company.

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

or

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

Miscellaneous

This information is published in accordance with the EU Market Abuse Regulation and/or the Swedish Financial Instruments Trading Act. The information was submitted for publication through the agency of the contact persons set out above on 29 November 2016, at 8 a.m. CET.

Maha in Brief
Maha Energy AB is a Swedish public limited liability company. Setterwalls Advokatbyrå AB acts as legal adviser to the Company. FNCA Sweden AB has been engaged as Certified Adviser.  The Company's auditors are Deloitte.

The Company's predecessor Maha Energy Inc was founded in 2013 in Calgary, Canada, by Jonas Lindvall and Ron Panchuk. In May 2016, the new group was formed with Maha Energy AB as parent company for purposes of the Offering and the planned listing. Jonas Lindvall, CEO and Managing Director, has 25 years of international experience in the oil and gas industry, starting his career with Lundin Oil during the early days of E&P growth.  After 6 years at Shell and Talisman, Jonas joined, and helped secure the success, of Tethys Oil AB. Maha's strategy is to target and develop underperforming hydrocarbon assets on global basis. The Company will operate two oil-fields, Tartaruga in Brazil (subject to Brazilian Government approvals and closing) and LAK Ranch, in Wyoming, US. For more information, please visit our website www.mahaenergy.ca.

Important Information

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

Maha Financials September 30 2016
PRESS RELEASE November 29 2016 Third Quarter

—
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 September 30 2016

PRESS RELEASE November 29 2016 Third Quarter

   Press release

   Stockholm

   29 August 2016

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

Maha Energy AB announces its second quarter and half year report ending June 30, 2016

Maha Energy AB (the "Company" or "Maha") today announces the release of its second quarter and half year report dated June 30, 2016.  The report is available hereto and on the Company's website at www.mahaenergy.ca.

Listing on Nasdaq First North Stockholm

On July 29, 2016, Maha Energy AB's class A shares (trading symbol Maha A) and share purchase warrants (trading symbol Maha A TO 1) commenced trading on the Nasdaq First North Stockholm stock exchange.  Concurrent with the listing on the First North stock exchange, the Company completed a financing (the "Offering") at 19 SEK per unit whereby each unit consisted of 4 Class A shares and 1 share purchase warrant.  The Company raised SEK 108.0 million SEK (US$ 12.6 million as at final closing date, August 5, 2016 US/SEK exchange rate 8.56) in cash proceeds and issued 6,198,074 units (24,792,296 A-Shares and 6,198,074 share purchase warrants) including 515,378 units  that were issued to the guarantor group as payment of 9% fees owed under the guarantee agreements.

The Company intends to use the proceeds from the Offering along with the existing working capital to:

• fund the acquisitions in Brazil;
• fund drilling and workover operations in Brazil;
• start the initial phase 3 development at the Company's LAK asset in Wyoming;
• fund general and administrative expenses.

Share data

As at June 30, 2016 the Company had 43,087,430 shares outstanding of which 29,478,036 were class A shares, 13,609,394 were class B shares.  In addition, Maha (Sweden) issued 4,592,527 convertible class C Shares (C1 and C2).  In the event that the existing Maha (Canada) stock options and warrants (which expire November 2016) are exercised these convertible class C Shares will be redeemed and exchanged for Maha (Sweden) Class A shares.  In the event that the Maha (Canada) stock options and warrants are not exercised, the convertible class C shares will be redeemed and cancelled.

Subsequent to June 30, 2016, Maha (Sweden) closed the Offering.  As at August 29, 2016, Maha (Sweden) has 67,879,726 class A and B shares outstanding (54,270,332 class A-shares and 13,609,394 class B Shares) and 6,198,074 Maha (Sweden) share purchase warrants.  In addition Maha (Sweden) has 4,592,527 convertible class C-Shares (C1 and C2). A full description of the class A and convertible class B and C shares can be found in note 10 to the second quarter and half year report ending June 30, 2016.

Brazil Acquisitions

On March 10, 2016, the Company entered into a definitive purchase and sale agreement with a private, Texas based company, which has a 37.5% working interest in the Tartaruga development block, located in the Sergipe Alagoas Basin of Brazil and is the designated operator of the block.  The acquisition is subject to the approval of the Brazilian Government and the Brazilian National Oil Agency ("ANP").  The Company has paid a refundable deposit in the amount of US$ 500,000.

On January 18, 2016, the Company entered into a definitive purchase and sale agreement with Petro Vista Energy Corp whereby the Company will acquire an additional non-operated 37.5% working interest in the Tartaruga development block.  The acquisition price of CAD $2.5 million will be paid in equal installments with the first payment upon successful approval of the transaction by the Brazilian Government and ANP and the second payment by December 2016.  Maha has also entered into a loan agreement with Petro Vista Energy Corp whereby funds were provided for Petro Vista to resolve outstanding joint interest billings for up to $815,500.  $750,000 of the loan will form part of the acquisition purchase price in the event of closing while the remaining amount will be deducted from the first installment.

Upon closing of the two acquisitions, the Company would be the operator and hold a 75% working interest in the Tartaruga Block.  Management has commenced the approval process and believes that the process could be completed during the second half of 2016.

Results of operations Operations

Canadian Assets

For the six months ended June 30, 2016, the Company generated revenue of $103,085 on an average sales volume of 36 boepd compared with $413,685 of revenue during the six months ended June 2015 from an average of 65 boepd.  Lower production volumes were a result of lower field activity as the operator was in receivership.

The crude oil produced from the Manitou and Marwayne areas is 12° API.  The Canadian Assets produced a total of 6,119 barrels net to Maha in the first six months of 2016. The average price received was CAD $26.15.

Operating costs associated with the Canadian Assets were $65,435 for the six months ended June 30, 2016 compared with $202,188 for the comparable period ended June 30, 2015. Lower operating costs in 2016 were due to lower field activity and reduced workover costs.

In July 2016, the operator of the Canadian Assets, which had been in receivership since February 2015, was purchased by a Canadian Company.  The new operator has indicated that field activity will increase during the second half of 2016 as they seek to increase production from existing wells by way of workovers.

LAK Ranch

As at June 30, 2016, the LAK Ranch asset is considered to be in the pre-production stage and is currently undergoing delineation and pre-development work.  As such, operating costs net of revenues since the commencement of operations have been capitalized as part of the exploration and evaluation costs.

The LAK field was shut in starting April 2016 and remained shut in as of June 30, 2016, primarily due to low oil prices and the requirement for reservoir pressure maintenance. During the shut-in period, the Company commenced the capital investment to allow for produced water recycling, which is critical for handling of produced water and re-injection of water for pressure maintenance.  The project was completed in August and production from a limited number of wells was re-established by the end of August 2016.

Technical work completed during 2015 has now laid the groundwork for the full field development plan. The full field development plan contemplates hot water injection, rather than steam playing a more significant role than originally anticipated. The extra cost of hot water injector wells are far offset by the elimination of steam requirements. The field development plan was evaluated by the Company's
independent reserve auditors, and the Company reserves for LAK Field at the end of November 2015 were 12.9 million barrels of oil ((Proven and Probable (2P)).

General and administrative

During the six months ended June 30, 2016, general and administrative ("G&A") costs were $682,090 compared to $681,916 for the same period June 30, 2015.

Transaction costs

During the six months ended June 30, 2016, the Company incurred $435,972 in transaction costs which primarily related to:

• $350,673 marketing and non-direct costs associated with the Offering and the listing on Nasdaq First North Stockholm;
• $86,298 in legal and transaction costs associated with the Brazil acquisitions

Stock-based compensation

Stock based compensation expense for the six months ended June 30, 2016 was $87,384 similar to $65,120 for the comparable period June 30, 2015.

This report has not been subject to review by the auditors of the company.

For more information, please contact:

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

or

Ron Panchuk

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

Miscellaneous

This information is published in accordance with the EU Market Abuse Regulation and/or the Swedish Financial Instruments Trading Act. The information was submitted for publication through the agency of the contact persons set out above on 29 August 2016, at 5 p.m. CET.

Maha in Brief
Maha Energy AB is a Swedish public limited liability company. Setterwalls Advokatbyrå AB acts as legal adviser to the Company. FNCA Sweden AB has been engaged as Certified Adviser.  The Company's auditors are Deloitte.

The Company's predecessor Maha Energy Inc was founded in 2013 in Calgary, Canada, by Jonas Lindvall and Ron Panchuk. In May 2016, the new group was formed with Maha Energy AB as parent company for purposes of the Offering and the planned listing. Jonas Lindvall, CEO and Managing Director, has 25 years of international experience in the oil and gas industry, starting his career with Lundin Oil during the early days of E&P growth.  After 6 years at Shell and Talisman, Jonas joined, and helped secure the success, of Tethys Oil AB. Maha's strategy is to target and develop underperforming hydrocarbon assets on global basis. The Company will operate two oil-fields, Tartaruga in Brazil (subject to Brazilian Government approvals and closing) and LAK Ranch, in Wyoming, US. For more information, please visit our website www.mahaenergy.ca.

Important Information

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

Maha Financials June 30 2016
PRESS RELEASE August 29, 2016

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

Maha Financials June 30 2016

PRESS RELEASE August 29, 2016