Max Petroleum Plc reported unaudited consolidated earnings and production results for the six months ended September 30, 2014. For the six months, the group reported revenue of $54,113,000 against $46,280,000 a year ago. Operating profit was $4,810,000 compared to operating loss of $700,000 for the same period a year ago. Loss before taxation was $764,000 compared to $3,377,000 a year ago. Loss for the period was $2,339,000 or 0.1 cents loss per basic and diluted share compared to a loss of $4,979,000 or 0.3 cents loss per basic and diluted share a year ago. Net cash generated from operating activities was $27,487,000 against $9,635,000 a year ago. Purchases of property, plant and equipment was $2,326,000 compared to $3,885,000 for the same period a year ago. Payments for exploration and appraisal expenditure and oil and gas assets were $12,294,000 compared to $16,076,000 in the same period last year. Adjusted EBITDA was $23.1 million against $13.8 million a year ago. Capital expenditure of $10.8 million during the six months ended September 30, 2014, down 68% compared to $33.4 million during the six months ended September 30, 2013.

During the six months ended September 30, 2014, average daily production was 4,239 barrels of oil per day (bopd), up 17% compared to 3,630 bopd during the six months ended September 30, 2013 and up 2% compared to 4,170 bopd for the six months ended March 31, 2014.