November 3, 2016 - 12:42 PM EDT
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Maurel & Prom :PIEP confirmation of its intent to launch a voluntary tender offer

Paris, 3 November 2016
 No. 18-16

PIEP confirmation of its intent to launch a voluntary tender offer

PT Pertamina Internasional Eksplorasi dan Produksi (« PIEP »), wholly-owned subsidiary of Pertamina Persero, confirms its intent to launch a voluntary tender offer under the terms and conditions already announced on August 25, 2016.

The offeror PIEP and Etablissements Maurel et Prom ("Maurel & Prom"), a company listed on Euronext Paris (ISIN code FR0000051070) indicate that the offer calendar is being finalized pending the obtainment of an antitrust clearance required in Tanzania. Relevant filings have been made with the Tanzanian Competition Authorities on 2 September, 2016.

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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
CAC® Mid 60 - SBF120® - CAC® Mid & Small - CAC® All-Tradable - CAC® All-Share - CAC PME - EnterNext© PEA-PME 150
ISIN FR0000051070 / Bloomberg MAU.FP / Reuters MAUP.PA

About Pertamina (Persero)

Pertamina is Indonesia's leading integrated energy company.  We are committed to an ongoing process of transformation and continuous improvement with the objective to achieve global standards of operational, environmental, and corporate performance. Our businesses include exploration and production (oil and gas), refining, manufacturing and marketing of oil products and petrochemicals. We are also engaged in the development of biofuels, geothermal power and other sustainable alternative energy sources.

Pertamina conduct its business in an integrated manner based on sound commercial principles. Pertamina has 58 years of experience in the challenging geological market environment of Indonesia.

Pertamina's main operations in the upstream sector are exploration, drilling, oil and natural gas production or lifting. Others activities in this sector are development, handling, and work over of oil and gas wells, such as reparation, reopening, stimulation, injection, research, and seismic survey. In addition, Pertamina's geothermal activity is run by the upstream division.

Pertamina has International upstream operations through the following subsidiaries: in Algeria PT Pertamina Algeria Eksplorasi Produksi (PT PAEP), in Iraq and Malaysia with PT Pertamina Internasional Eksplorasi Produksi (PT PIEP).

Pertamina has operations and facilities to deliver the energy for over 250 million people spread throughout the archipelago. Pertamina efficiently operates fuel infrastructures, such as fuel terminals, oil tankers, fuel trucking and pipeline, to overcome the challenges in delivering energy in Indonesia, the world most sophisticated fuel distribution network.

Pertamina's well known reputation in LNG business is reflected in its long history and business partners as a major LNG supplier to overseas consumers such as Japan and Korea, as well as fulfilling domestic demands. With various and integrated natural gas infrastructure, starting from LNG plant, Floating Storage and Regasification Unit, Land Based Terminal, Hub and Regasification Terminal, and pipeline network, Pertamina becomes a leading natural gas player in Indonesia.

About Maurel & Prom

Maurel & Prom is an independent oil company engaged in the extraction and production of hydrocarbons, listed on Euronext Paris and headquartered in Paris.

The group carries out most of its business in Africa through the exploitation of onshore production assets (Gabon and Tanzania) and a 21.37% stake in Seplat Petroleum, one of the leading indigenous operators in Nigeria with a production of 43.4 kboe/d in 2015. Maurel & Prom's proved and probable oil reserves totaled 205 MMboe at the end of 2015 (78 % Gabon, Tanzania 22 %) and production in H1 2016 in M&P share was 25.1 kboe/d (mainly Gabon).

This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq 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

Source: Thomson Reuters ONE (November 3, 2016 - 12:42 PM EDT)

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