RNS Number:0427I
Max Petroleum PLC
19 November 2007


                       Max Petroleum Plc (the "Company")

                              Exercise of Options

                                19 NOVEMBER 2007


The Company announced today that Mr. Steven Kappelle, a former director and CEO
of the Company, exercised options over a total of 1.4 million ordinary shares of
0.01 pence in the Company ("Ordinary Shares") at an exercise price of 35p per
Ordinary Share. The options exercised were originally granted by the Company to
Mr. Kappelle in October 2005 and are part of those which had vested prior to his
dismissal on 17 October 2007.

Application has been made for the 1.4 million Ordinary Shares to be admitted to
trading on the AIM Market of the London Stock Exchange on 23 November 2007. The
Company's issued ordinary capital is increased to 325,481,931 Ordinary Shares.


Enquiries:

Max Petroleum Plc  Michael Young                    Tel: +44 (0)20 7355 9590
                   Chief Financial Officer

                   Peter Moss                       Tel: +44 (0)78 3457 2837
                   Investor Relations Manager

Merlin PR          Tom Randell / David Simonson     Tel: +44 (0)20 7653 6620

WH Ireland Ltd     Daniel Bate / David Youngman     Tel: +44 (0)161 832 6644







                      This information is provided by RNS
            The company news service from the London Stock Exchange

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