OREANDA-NEWS. MAX PETROLEUM PLC (London, hereinafter – the Company), whose shares are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following informational statement:

"...Max Petroleum announces that, following its announcements of 9 February 2015 and 19 February 2015, it has requested that trading in its ordinary shares on the  AIM market of London Stock Exchange plc be suspended pending the outcome of final negotiations with Sberbank regarding an appropriate debt restructuring and with AGR Energy regarding an equity investment that, together with the debt restructuring, would render the Company viable.

The Directors of Max Petroleum currently believe that there remains a reasonable prospect that these discussions could result in a sufficient refinancing of the Company and, on that basis, have not yet put the Company into administration.

However, in light of the protracted nature of the discussions as well as outstanding creditor payments, including a material amount that became due on 25 February 2015 to the Kazakh tax authorities and payable in early March 2015, there is now only a very limited period remaining to achieve such a refinancing. If  current negotiations are unsuccessful, or if other events outside the control of the  Company require that the Company ceases trading while such negotiations are  ongoing, then the consequences will be negative for all stakeholders in the  Company".