Maurel et Prom : Maurel et Prom : Maurel & Prom, MPI and Pétrolia sign joint venture agreement

 Maurel et Prom : Maurel et Prom : Maurel & Prom, MPI and Pétrolia sign joint
                              venture agreement

                                                           Paris, 19 July 2013

                                                                     N° 15-13

         Maurel & Prom, MPI and Pétrolia sign joint venture agreement

The companies Pétrolia,  Maurel & Prom  and MPI, through  a pooled  investment 
company, are pleased to announce that  they have signed a 50/50 joint  venture 
agreement for the development of  thirteen hydrocarbon exploration permits  in 
Gaspésie. Maurel & Prom  and MPI have assigned  this operation to  Saint-Aubin 
Énergie S.A.S., a  collective investment undertaking,  two-thirds of which  is 
owned by MPI and one-third by Maurel & Prom.

The partners will also  pursue talks aimed at  expanding their partnership  to 
other regions in Quebec that will be  added to the current permits, which  now 
cover an area of 1,892 km^2 in Gaspésie. These permits are aimed primarily  at 
unconventional reservoirs, but that  is not to  say that traditional  deposits 
will be ruled out.

Over the coming months,  the Pétrolia and Maurel  & Prom technical teams  will 
work on designing a voluntary exploration programme.

They will pool their technical  expertise in exploration and production  while 
initially entrusting  the role  of  operator in  charge of  implementation  to 

About Pétrolia

Pétrolia is a junior oil and gas exploration company that owns interests in  a 
14,000 km^2 (3.5 million  acre) area, representing around  17% of the land  in 
Quebec under permit. These rights, which are considered highly promising,  are 
mostly located on the Gaspé Peninsula and on Anticosti Island. They  represent 
nearly 70% of the land under permit  for which there is onshore oil  potential 
in Quebec. Pétrolia has 69,431,372  shares issued and outstanding and  working 
capital of US$4,000,000.

For more information:

Tel: 01 42 72 46 76

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



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Source: Maurel et Prom via Thomson Reuters ONE
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