Gulf Oil and Gas accountACCOUNT

Maha Energy AB Announce July Production Volumes

Source: www.gulfoilandgas.com 8/4/2020, Location: South America

Production Volumes
The Company's aggregate sales production for the month of July totaled 111,4041 barrels of oil and 58.090 million scf of gas for a combined average production of approximately 3,906 BOE/day2, before royalties and taxes.

Effects of the Covid-19 Pandemic along with planned commissioning work and individual well testing operations at the Tie field affected production this month.

1 Subject to minor standard industry adjustments at the time of custody transfer.
2 Barrels of oil equivalent ("BOE") conversion ratio of 6,000 scf: 1 bbl is used.

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