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PARIS, September 18 /PRNewswire-FirstCall/ -- Mnazi Bay, Tanzania:

Maurel & Prom will farm in to a 38.22% participating interest in the Mnazi Bay permit, with a 47.775% participating interest for Exploration Operations (the difference being due to Tanzanian Petroleum Development Corporation's (TPDC) 20% participating interest in all but Exploration Operations).

Maurel & Prom will assume operatorship of all Petroleum Operations under the PSA (Production Sharing Agreement).

Onshore Rovuma Block, Mozambique:

Maurel & Prom will farm in to a 24% participating interest in the Block. Maurel & Prom and Cove will carry Artumas for the first exploration well to be drilled on this block by the end of 2009.

The Rovuma onshore block is operated by Anadarko, among the largest independent oil and natural gas exploration and production companies in the world.

Offshore Area 1 Rovuma Block, Mozambique:

Maurel & Prom decided not to enter into this offshore permit, of which 8.5% have been taken by Cove Energy.

Maurel & Prom wishes to accumulate reserves in East Africa and thus become a key player in a gas project in the region.

Maurel & Prom share of the total cash consideration in respect of both Tanzania and Mozambique to be paid to Artumas amounts to US$10.2m. In addition Maurel & Prom and Cove Energy will carry Artumas' share of costs for a 200 sq. km. 3D seismic programme and an exploration well in Tanzania, and Artumas also may elect that Maurel & Prom and Cove will fund Artumas' share of either of two appraisal wells, in which case a further 5% per well will be assigned to Maurel & Prom and Cove.

The transaction is subject to the approval of the relevant government entities, joint venture partners, the approval of Artumas' bondholders and of Cove's shareholders.

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 or sabotage.

             Maurel & Prom is listed for trading on Euronext Paris -
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