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2015-12-15

MAUREL & PROM : PLANNED MERGER: RECOMMENDATION TO REVISE THE MERGER EXCHANGE RATIO

Paris, 15 DECEMBER 2015

PLANNED MERGER:

ReCOMMENDATION TO REVISE the MERGER EXCHANGE RATIO

The continued decline in oil prices, and the divergent trend in the price of
the stock of MPI and Maurel&Prom, have induced MPI's Board of Directors, at
the initiative of its ad hoc committee, to recommend revising the merger
exchange ratio that will be proposed for the planned merger of MPI and
Maurel&Prom at the Shareholders' Meetings on December 17, 2015.

Meeting on December 14, 2015, MPI's Board of Directors decided it was
necessary to change the exchange ratio to 1.5 MPI shares for 1 Maurel&Prom
share, after MPI pays a dividend of 0.45 cents to its shareholders.

Meeting in turn on December 14, 2015, the Maurel&Prom Board of Directors,
considering the change in market conditions and on the recommendation of its
ad hoc committee, decided to accept the change in the exchange ratio and
propose it to its shareholders.

This change in exchange ratio will take the form of an amendment presented by
each Board at the Shareholders' Meetings held on December 17, 2015.

Maurel&Prom: Press contacts, shareholder and investor relations
Tel: +33 1 53 83 16 45
ir@maureletprom.fr

MPI: Press contacts, shareholder and investor relations
Tel: +33 1 53 83 55 44
ir@mpienergy.com

Important information

This press release does not constitute and shall not be construed as an offer
or the solicitation of an offer to purchase, sell or exchange any securities
of MAUREL&PROM et MPI. In particular, it does not constitute an offer or the
solicitation of an offer to purchase, sell or exchange of securities in any
jurisdiction (including the US, the United Kingdom, Australia, Canada and
Japan) in which it would be unlawful or subject to registration or
qualification under the laws of such jurisdiction.

In connection with the proposed transaction, the required information
documents will be filed with the
Autorité des Marchés Financiers("AMF
"). Investors and shareholders are strongly advised to read, when available,
the information documents that have been filed with the AMF because they will
contain important information.

Shareholders and investors may obtain free copies of documents filed with the
AMF at the AMF's website atwww.amf-france.orgor directly from MAUREL&PROM's
website (www.maureletprom.fr) or MPI's website (www.mpienergy.com).

MAU_MPI_PARITE_151215_EN.pdf
http://hugin.info/155421/R/1973503/721965.pdf

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Maurel&Prom via Globenewswire

HUG#1973503

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