Etablissements Maurel & Prom — Audit Report / Information 2011

Mar 13, 2012

Paris,!13!March!2012 No.!06312

GABON P1+P2!reserves!net!of!royalties:!177 Mboe!

COLOMBIA Reserves!being!evaluated

TANZANIA Increase!of!participating!interest Share!of!Maurel!&!Prom!gas!reserves!rise!in!consequence!!

GABON

In! Gabon,! P1+P2! reserves! net! of! royalties! were! certified! on! 1/1/2012! by! DeGolyer! &! MacNaughton.

The!Group's!P1+P2!reserves!net!of!royalties!in!Gabon!as!at!1/1/2012!were!177!million!barrels!of! oil.!Work! carried! out! at! the! fields,! including! improved! water! injection! and! the!many!drillings! undertaken,! revealed!an!additional! 8.7!million!barrels! of! oil,! to! be! compared! to!a! production! net!of!royalties!of!5.4!Mboe!in!2011.

P1!reserves!have!been!affected!by!the!following!items:

• O Production!of!5.4!Mboe;
• O P1! reserves! of! Onal! reclassified! in! P2,! awaiting! for! a! selective! completion! allowing! to! improve!the!sweeping!of!the!oil!by!the!water!;
• O Decrease!in!P1!reserves!on!Omoc!field!(4!Mboe)!after!the!OmocO401!drilling.

The!Group's!P2!reserves!rose!by!26!Mboe!to!120!Mboe.!This!progression!is!due!to!the!increase! of!the!oil!in!place!on!most!of!the!fields.

In! addition! to! its! P1! and! P2! reserves,! the! Group! also! has! P3! reserves! net! of! royalties! of! 85! Mboe.

In!the!next!few!years,!the!Group!intends!to!continue!developing!the!producing!fields!in!Gabon. A!3D!seismic!campaign!is!in!progress! to!better!image! the! reservoir!compartmentalization!and! optimize!water!injection!scheme!with!the!drilling!of!new!production!and!injection!wells.!Surface! facilities!and!evacuation!capabilities!will!be!adapted!according!to!these!developments.

In!addition,!the!Group!launched!a!2D!seismic!data!acquisition!campaign!in!late!2011!across!all! its!permits!in!Gabon!to!highlight!targets!for!exploration.!All!this!seismic!data!will!be!processed! during!the!year!and!exploration!drilling!will!begin!in!2013.!

On! the! Etekamba! license! (100%!M&P),! drilling! of!the! first! ETBIBO1! well! proved! negative;! the! Gamba!reservoirs,!also!very!high!quality,!showing!no!effective!closure.!The!drilling!of!a!second! prospect,!ETGOO1,!with!a!separate!structure,!has!just!begun.

COLOMBIA

Sabanero!field!reserves!are!in!the!process!of!being!evaluated!by!an!independent!certificator.!

The!Group!will!communicate!these!reserves!once!it!obtains!the!results!in!April!2012.!

TANZANIA

Recent! gas! discoveries! in! Tanzania! offshore! have! been!made! by!major! oil!&! gas! operator.!In! consequence! the! Group! decided! to! reconsider! its! positioning! in! this! region.! That! is! why! the! Group!exercise!its!preemption!right!following!the!agreement!signed!between!Wentworth!Resources! and! Cove! Energy! in! February! 2012. After! the! closing,! the! Group! will! own! 48.06%! of! the! Mnazi! Bay! development!licence!and!60.075%!of!the!exploration!licence.

As!a!result!and!based!on!resources!certified!by!RPSOAPA!in!2007,!the!Group's!share!of!resources net!of!royalties!on!the!Mnazi!Bay!permit!is!56!Mboe.

The! project! of! the! Tanzanian! authorities! for! laying! a! pipeline! along! the! Tanzanian! coast! claimant,! initially,! a! stabilized! production! of! around! 80!million! cubic! feet! per! day,! the! Group! decided!to!perform!workovers!on!three!existing!wells.

Moreover,! to! increase! the! level! of! resources! and! access! to! a! higher! level! of! production,! two! exploration! wells! were! also! determined! in! the! northern! part! of! the! permit;! ZiwaniO1! drilling! being!in!progress.

The!offshore!part!of!the!license,!in!shallow!water,!will!be!explored!in!a!second!time.

Disclaimer:

The!Group's!reserves!correspond!to!hydrocarbon!volumes!revealed!by!discovery!and!delineation!wells!that!can!be! operated!commercially.!

In! line! with! the!Group's! historical! policy,! reserves! are! presented! as!Maurel!&! Prom's! share,! net! of! royalties! and! before!taxes!specific!to!each!type!of!contract!(Production!sharing!contract,!concession!contract,!etc.).

For!more!information:!www.maureletprom.fr

Communication: INFLUENCES! !:!+33!(0)1!42!72!46!76 :!communication@agenceOinfluences.fr!!

This!document!may!contain! forwardClooking!statements!regarding!the! financial!position,!results,!business!and!industrial!strategy!of!Maurel!&! Prom.!By!nature,!forwardClooking!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 – Compartment A O mid 60 - SBF120® - CAC® Mid & Small - CAC® All-Tradable - CAC® All-Share Isin FR0000051070 / Bloomberg MAU.FP / Reuters MAUP.PA