Max Petroleum, an oil and gas exploration and production company focused on Kazakhstan, is pleased to announce today its intention to implement a refinancing and a comprehensive restructuring of its outstanding debt facilities (the "Restructuring").

The terms of the Restructuring, which comprise the refinancing of the Company's existing senior credit facility with Macquarie Bank Limited (Macquarie Bank) and the restructuring of its $85.6 million 6.75% convertible bonds (the "Bonds"), have the support of Macquarie Bank, Bondholders representing greater than 90% of the outstanding Bonds and the Company's major shareholders representing approximately 30% of the Company's outstanding ordinary shares of 0.01p each (the "Shares').

Tags: Max Petroleum Plc