Information on the Distribution of the Shares of Maurel & Prom Nigeria

News provided by

Maurel & Prom

May 24, 2011, 03:23 ET

PARIS, May 24, 2011 /PRNewswire-FirstCall/ -- At its meeting held on 23 May, 2011 the Board of Directors of Maurel & Prom recommended to the management of the company to continue its reflection on the terms of the contemplated distribution of the shares of MAUREL & PROM Nigeria to the shareholders of MAUREL & PROM by focusing on a distribution preceded by a contribution-spin off (apport-scission) which should be more beneficial for its shareholders.

This transaction requires a series of complex legal and accounting operations which cannot be completed before the general shareholders meeting to be held on 29 June 2011.

An extraordinary general shareholders meeting will be convened during the second half of 2011 to decide on this transaction.

According to the agenda published in the 25 May 2011 issue of the BALO, the Annual General Meeting shall be held on 29 June 2011 during which a the distribution of a dividend of EUR 0,25 per share shall be proposed.

For more information, visit http://www.maureletprom.fr

This document may contain forward-looking statements regarding the financial position, results, business and industrial strategy of Maurel & Prom. By nature, forward-looking statements contain risks and uncertainties to the extent that they are based on events or circumstances that may or may not happen in the future. These projections are based on assumptions we believe to be reasonable, but which may prove to be incorrect and which depend on a number of risk factors such as fluctuations in crude oil prices, changes in exchange rates, uncertainties related to the valuation of our oil reserves, actual rates of oil production and the related costs, operational problems, political stability, legislative or regulatory reforms, or even wars, terrorism and sabotage.

             Maurel & Prom is listed for trading on Euronext Paris -
    compartiment A - CAC(R) mid 60 - SBF120(R) - CAC(R) Mid & &Small - CAC(R)
                       All-Tradable - CAC(R) All-Share
             ISIN FR0000051070 / Bloomberg MAU.FP / Reuters MAUP.PA

                                 Next meetings:
                          29 June 2011 General Meeting



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

SOURCE Maurel & Prom

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