Mayan Energy Ltd / Index: AIM / Epic: MYN/ ISIN: VGG6622A1057 / Sector: Oil and Gas

8 February 2019

Mayan Energy Ltd ('Mayan' or 'the Company')

Issue of Equity

Mayan Energy Ltd (AIM: MYN), the AIM listed oil and gas company, announces that it is accelerating the issue of 20 million Settlement Shares under an existing Advisor Agreement as announced on 29 January 2019.   Under a Deed of Variation dated 7 February between Mayan Energy Ltd, Align Research & Mr Richard Jennings, the Settlement Shares to be issued in two further tranches (on 15 March and 15 May 2019 ) will be now issued immediately.

The issue of Settlement Shares is conditional on Admission and application has been made for the Shares, which will rank pari passu with the existing Ordinary Shares, to be admitted to trading on AIM (the "Admission").  It is expected that Admission will become effective and dealings in the Settlement Shares will commence on or around 13 February 2019. 

Total Voting Rights ("TVR"):

Following the issue of the Settlement Shares, the Company's issued share capital will consist of 2,293,837,381 Ordinary Shares with voting rights.  No Ordinary Shares are held in treasury at the date of this announcement and therefore following the Admission, the total number of Ordinary Shares in the Company with voting rights will be 2,293,837,381.

The above total voting rights figure may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in the Company.

Special note concerning the Market Abuse Regulation:

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No 596/2014 ("MAR"). 

**ENDS**

For further information visit www.mayanenergy.co.uk or contact the following:

Notes:

Mayan Energy Limited is an AIM listed (London Stock Exchange) North American based energy company.  It is actively pursuing a primary recovery oil strategy focused on re-stimulating wells within mature producing basins with immediate cash flow leveraging commercially available technologies and projects that are shallow, low risk with low levels of capex and infrastructure already in place.  It also remains interested in creating shareholder value by strategic investments in similar projects with high cash generative potential and by forming beneficial development partnerships that enable the use of pioneering and leading extraction technologies.