Maurel & Prom: Update on Nigeria and Gabon Production

News provided by

Maurel & Prom

Apr 21, 2010, 06:15 ET

PARIS, April 21, 2010 /PRNewswire-FirstCall/ --

Nigeria Production

SEPLAT (the Nigerian company owned 45% by Maurel & Prom) has been informed that crude production has recommenced on OMLs 4, 38 and 41, currently operated by SPDC (Shell Nigeria).

The assignment process is progressing regarding the approval from the Nigerian National Petroleum Corporation (NNPC), as well as of the Federal Government of Nigeria, in respect of the transfer to SEPLAT of interests in these three OMLs.

Gabon Production ONAL/OMKO

The general strike called by the ONEP in Gabon resulted in a stop of production from Maurel & Prom's blocks Onal and Omko of 24 hours. Production resumed on 17 April, and has since returned to a normal level.

This press release may contain forward-looking statements with respect to the financial condition, results of operations, business, strategy and plans of Maurel & Prom. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that will or may occur in the future. These forward-looking statements are based on assumptions which we believe are reasonable but that could ultimately prove inaccurate and are subject to a number of risk factors, including but not limited to price fluctuations in crude oil; exchange rate fluctuations; uncertainties inherent in estimating quantities of oil reserves; actual future production rates and associated costs; operational problems; political stability; changes in laws and governmental regulations; wars and acts of terrorism or sabotage.

          Maurel & Prom est coté sur Euronext Paris - compartiment A -
                             CAC mid 100 Indice

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

    Next meetings:
    5/6/2010 Q1 2010 Revenue, after market close
    5/20/2010 General Shareholders' Meeting

    For further information: http://www.maureletprom.fr

    Contact:
    INFLUENCES
    Tel. : +33-01-42-72-46-76
    Email : [email protected]

SOURCE Maurel & Prom

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