PARIS, July 15 /PRNewswire-FirstCall/ --

- Not for Publication or Distribution in the United States, Canada, Australia or Japan

- Results of the Standing Repurchase Order of the Bonds Convertible Into and/or Exchangeable for New or Existing Shares Issued by Maurel & Prom and Maturing on January 1, 2010 ("2010 OCEANE")

On July 8, 2009, following a reverse bookbuilding process, the company Etablissements Maurel & Prom (the "Company") repurchased 5,854,350 2010 OCEANEs, representing approximately 35% of the total original principal amount issued, at a unit price of EUR22.80 equal to the par value plus a premium of 1.6%, i.e., a total amount of EUR 133,479,180.

Following these off-market repurchases, in order to ensure the fair treatment of all 2010 OCEANE holders, the Company has placed a standing repurchase order on the market in France. The Company has thus placed a standing repurchase order on the Euronext Paris market between July 9, 2009 (inclusive) and July 15, 2009 (inclusive), i.e., for a period of five trading days, at a price equal to the price paid to 2010 OCEANE holders who sold their 2010 OCEANE in connection with the off-market transactions, i.e., EUR22.80 per 2010 OCEANE.

The standing repurchase order has ended today and enabled the Company to repurchase 2,966,285 2010 OCEANE at a unit price of EUR22.80, i.e., a total amount of EUR 67,631,298. The repurchased 2010 OCEANE will be cancelled. Therefore, there are now 7,883,223 2010 OCEANE outstanding, representing 47,2 % of the amount initially issued.

The standing repurchase order was managed by BNP PARIBAS.

The repurchased 2010 OCEANEs will be cancelled in accordance with their terms. The Company reserves the right to continue to repurchase 2010 OCEANEs, on or off-market, after the standing repurchase order period. However, if the Company repurchases 2010 OCEANEs representing a block of at least 10% of the initial principal amount of initially issued 2010 OCEANEs, the Company undertakes to implement, within two market days of the final repurchase forming a block of 10%, a new standing repurchase period of at least five consecutive trading days at a repurchase price per 2010 OCEANE equal to the sum of (i) the highest purchase price (after subtraction of accrued and unpaid interest) of purchases made by the Company during the preceding twelve months and (ii) the accrued and unpaid interest on the 2010 OCEANEs between the repurchase date and the immediately preceding payment date.

For more information, see http://www.maureletprom.fr

Disclaimer

The distribution of this press release, this undertaking to repurchase, the purchase of securities pursuant to this procedure and the participation in and tender pursuant to such undertaking to repurchase may, in certain jurisdictions, be subject to legal and regulatory restrictions. This undertaking to repurchase is not, directly or indirectly, addressed to persons subject to such restrictions and may not be accepted from any jurisdiction where it would be subject to such restrictions.

This press release may not be published, distributed or transmitted into the United States. It is not, nor should it be construed as, an extension of a tender offer for any securities in the United States or any other jurisdiction where such offer or solicitation would be unlawful and no sell order for OCEANE may be accepted in the United States or from the United States. No means to tender securities on the French market may be provided from the United States or in the United States. Any person tendering securities pursuant to this procedure will be considered as having accepted any such restrictions.

    Maurel & Prom is listed on Euronext Paris - compartment A - CAC mid 100
    Indice

    ISIN FR0000051070 / Bloomberg MAU.FP / Reuters MAUP.PA

    Upcoming events:

    July 30, 2009 - First half year 2009 revenue

    August 27, 2009 - First half year 2009 results

    Contact:
    INFLUENCES

    Clementine Dourne
    +33-1-42-72-46-76
    c.dourne@agence-influences.fr

    Catherine Durand-Meddahi
    +33-1-42-72-46-76
    c.meddahi@agence-influences.fr

SOURCE Maurel & Prom

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