Farm in to the Mandawa and the Kisangire PSA in Tanzania

News provided by

Maurel & Prom

Feb 15, 2010, 02:00 ET

PARIS, February 15, 2010 /PRNewswire-FirstCall/ -- Maurel & Prom and Dominion have signed an agreement in principle related to an additional working interest in the Mandawa license and a new carried interest in the Kisangire license as follows:

    - a 40% interest in the Mandawa Production Sharing Agreement
      onshore Tanzania, resulting in Maurel & Prom owning 90% of the Mandawa
      licence and Dominion's interest being reduced to 10%; and

    - a 35% carried interest in the Kisangire Production Sharing
      Agreement onshore Tanzania (operated by Heritage Oil, who owns a 55%
      interest).

In addition to approval by the Tanzanian Government, the agreement is also subject to certain other conditions, including the assumption by Maurel & Prom of the operatorship of the Mandawa license.

This document may contain predictions about the financial situation, results, activities and industrial strategy of Maurel & Prom. Predictions by nature include risks and uncertainties to the extent that they are based on events or circumstances whose future outcome is uncertain. These predictions are made on the basis of hypotheses that we consider to be reasonable but which may prove to be inaccurate and entail certain risk factors such as variations in the price of crude, the effective rate of production as well as its associated costs, operational problems, political stability, legislative or regulatory reforms, war, acts of terrorism or sabotage.

             Maurel & Prom is listed for trading on Euronext Paris -
                      Compartment A - CAC mid 100 Index

             ISIN FR0000051070 / Bloomberg MAU.FP / Reuters MAUP.PA

                                  Next meeting:


    07/04/2010 2009 Results, after the market close
    08/04/2010 Analysts Presentation
    20/05/2010 Shareholders' Meeting
    For further information, visit http://www.maureletprom.fr

    Contact:
    INFLUENCES
    t : +33(0)1-42-72-46-76
    e : [email protected]

SOURCE Maurel & Prom

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