About Us Reserves & Assets Investors Resources Contact About Us Reserves & Assets Investors Resources Contact What Maha Means The name ‘Maha’ was taken from Arabic and means ‘Oryx’. An Oryx is a genus consisting of four large antelope species. Three of them are native to arid parts of Africa, and the fourth to the Arabian Peninsula. Their fur is pale with contrasting dark markings in the face and on the legs, and their long horns are almost straight. The Arabian oryx was only saved from extinction through a captive breeding program and reintroduction to the wild. Another meaning of ‘Maha’ can be found in India: Maha : ‘mah-ha’, /ˈmʌhʌ’ /; Adj, Indian. Very large, or great. WHAT SETS US APART? Philosophy & Strategy 40:40:20 Strategy The Company’s philosophy is to acquire existing hydrocarbon assets and increase value by applying modern hydrocarbon recovery technologies. As such Maha is more of an engineering based production and exploration Company than the traditional Exploration and Production Company. Maha relies heavily on Petroleum Engineering principles. It is the Strategy of the Company to secure value through the 40:40:20 ratio principle, meaning an asset portfolio of production, appraisal and near field exploration projects, in those proportions. Enhanced Oil Recovery Maha has assembled a team of industry experts with individual expertise to build a solid foundation of production assets and an objective to grow through petroleum engineering and near field exploration technologies. The primary focus is to implement cutting edge Enhanced Oil Recovery (EOR) technologies to existing and maturing oil fields. By some estimates (Resources International (2008) – and excluding Gulf of Mexico fields) there is approximately 400 billion barrels of recoverable oil ‘stranded’ in oil fields that have undergone primary and secondary oil recovery. The Enhanced Oil Recovery Institute (EORI) at the University of Wyoming states: “In developing the most complete Wyoming EOR-specific dataset that exists, EORI has estimated that additional recovery of oil from the state’s depleted oil fields using advanced EOR technology could total more than 1 billion barrels of additional production over the next 20 years. In 2009 approximately 51.3 million barrels of oil were produced in Wyoming. About 12 percent, or 6 million barrels, of that oil was produced from EOR projects.” There are many techniques available to the Petroleum Engineer that can be applied to an aging reservoir. Gas Injection, Miscible Solvents, Surfactant Flooding, Polymer Flooding, Microbial Injection, CO2 Flooding, and Thermal methods (steam and fire flooding) are some of the prominent examples. Perhaps the most effective EOR technology for heavy oil reservoirs is the addition of heat. “Thermal recovery methods are based on adding heat to the oil, mainly to decrease its viscosity. In this way, the mobility ratio between oil and the displacing fluids become more favorable. The most common thermal methods are steam flooding and steam cycling. These techniques experienced enormous development in the past few decades and have grown to be the largest contributor to oil output by EOR. They are effective for the oil viscosity range between 100 and 100,000 cp.” P.Zitha, R. Felder, D. Zornes, K. Brown and K. Mohanty “Increasing Hydrocarbon Recovery Factors” Health, Safety & Environment Maha Energy takes its responsibility to its employees, the community and the environment very seriously. As such we strive to be transparent and honest in our reporting of health, safety and environmental reporting. Read About our HS&E Values Read our HS&E Policy Document Board and Management Management Jonas Lindvall Ron Panchuk Andres Modarelli Robert Richardson Jamie McKeown Jonas Lindvall Born 1967 B. Sc P. Eng, MEB Member of the Board of Directors since 2013 and Managing Director since 2016. Other current assignments: None. Prior assignments (last five years): Not applicable. Experience: Mr. Lindvall holds a B. Sc. in Petroleum Engineering and a Master Degree in Energy Business, both from the University of Tulsa, USA. He is a seasoned senior executive with 25 years of international experience in the upstream oil and gas industry across Europe, North America, Africa and Asia. He has five years experience as Sr. Drilling Manager at Talisman Energy, four years experience as Managing Director of Tethys Oil AB (publ) Oman subsidiary, two years experience with Shell Oil and eight years experience with Lundin Oil. Independent of the Company and the senior management: No. Independent of major shareholders: No Shareholding in Maha (Sweden): 169,537 Shareholding in Maha (Canada): 4,713,610 Exchangeable Maha (Canada) Shares (of which 2,000 Exchangeable Maha (Canada) Shares are held by related parties) Member of HS&E and Reserves Committee Ron Panchuk Born 1959 LLB Vice President and Chief Corporate Officer since 2016 Other current assignments: None Prior assignments (last five years): Senior Counsel (consultant) at Canadian Oil Sands Limited Experience: Mr. Panchuk holds a Bachelor of Laws from the University of Manitoba, Canada and is a member of the Law Society of Alberta since 1983. He has been a self-employed lawyer since May 2000 and has acted as Corporate Secretary and Counsel of various private and public companies in the oil and gas sector, Independent of the Company and the senior management: No Independent of major shareholders: Yes Shareholding in Maha (Sweden): 170,674 Class A Shares Shareholding in Maha (Canada): 2,763,342 Exchangeable (Maha Canada) Shares Andres Modarelli Born 1979 CPA Chief Financial Officer Prior assignments (last five years): Consultant for Canadian E&P Tourmaline Oil Corp.; Cofounder and Controller of Mapan Energy Ltd.; Interim CFO at Platino Energy Corp.; VP of Finance at C&C Energia Ltd. Experience: Mr. Modarelli holds B. Commerce and BBA degrees from the Pontifical Catholic University of Argentina and has a Chartered Professional Accountant (CPA) designations in Canada and Argentina. He has over 17 years experience in finance and accounting. Shareholding in Maha (Sweden): No. Shareholding in Maha (Canada): No. Robert Richardson Born 1967 B.Sc. Engineering & Licensed Professional Engineer Masters in Energy Business Chief Operating Officer Other current assignments: Member of APEGA and Beta Gamma Sigma Prior assignments (last five years): Palliser Oil & Gas Corporation; Vice President Exploration with Petrobank Energy and Resources Ltd. and Exploration Manager Canadian Natural Resources Limited. Experience: Mr. Richardson has a Bachelor of Science Engineering from the University of Alberta, a Masters Degree in Energy Business and an Engineering Science technology Diploma from SAIT. His diversified experience includes conventional oil & gas, secondary, tertiary & thermal recovery, shale oil and gas, acquisitions, CHOPS and renewable energy. He has over 25 years of diversified energy experience with an extensive background in management and engineering. Shareholding in Maha (Sweden): No Shareholding in Maha (Canada): No Jamie McKeown Born 1964 B.Sc.Geol VP of Exploration and Production Other current assignments: None Experience: Mr. McKeown holds a Bachelor of Science in Geology from the Victoria University of Wellington, New Zealand. He has 30+ years’ experience with IPC (Lundin) Oil, Apache Energy and Maha. He has worked extensively throughout North and East Africa, the Middle East and the US. Shareholding in Maha (Sweden): No. Shareholding in Maha (Canada): 466,666 Exchangeable Maha (Canada) Shares and 200,000 options Board Wayne Thomson Jonas Lindvall Anders Ehrenblad Harald Pousette Wayne Thomson Born 1951 B. Sc Mech. Eng Member of the Board of Directors since 2014. Chairman of the Board of Directors since 2016. Other current assignments: Director and Chair of Reserves Committee of Cenovus Energy Inc., Chairman of Inventys Inc. and Chairman and President of Enviro Valve Inc. Prior assignments (last five years): Director and CEO of Iskander Energy Corp., Director of Orion Oil and Gas Corp. and Director of TVI Pacific Experience: Mr. Thomson holds a Bachelor of Science in Engineering from the University of Manitoba, is a member of APEGA, and has participated in Executive Management training at the University of Chicago and at Wharton School of the University of Pennsylvania. He has been the CEO and Director of various private and public Canadian and international oil and gas companies. Independent of the Company and the senior management: Yes. Independent of major shareholders: Yes. Shareholding in Maha (Sweden): No. Shareholding in Maha (Canada): 350,000 options. Member of HS&E and Reserves Committee Member of Corporate Governance and Compensation Committee Member of Audit Committee Jonas Lindvall Born 1967 B. Sc P. Eng, MEB Member of the Board of Directors since 2013 and Managing Director since 2016. Other current assignments: None. Prior assignments (last five years): Not applicable. Experience: Mr. Lindvall holds a B. Sc. in Petroleum Engineering and a Master Degree in Energy Business, both from the University of Tulsa, USA. He is a seasoned senior executive with 25 years of international experience in the upstream oil and gas industry across Europe, North America, Africa and Asia. He has five years experience as Sr. Drilling Manager at Talisman Energy, four years experience as Managing Director of Tethys Oil AB (publ) Oman subsidiary, two years experience with Shell Oil and eight years experience with Lundin Oil. Independent of the Company and the senior management: No. Independent of major shareholders: No. Shareholding in Maha (Sweden): 169,537 Shareholding in Maha (Canada): 4,713,610 Exchangeable Maha (Canada) Shares (of which 2,000 Exchangeable Maha (Canada) Shares are held by related parties) Member of HS&E and Reserves Committee Anders Ehrenblad Born 1965 MBA Member of the Board of Directors since 2013 and Interim Deputy Managing Director since 2016 Other current assignments: Investment Manager and Partner of Graviton AB, Board Member of RF Coverage AB and Deputy Board Member of Xpert Eleven AB, Graviton AB and AB PiaCare. Prior assignments (last five years): Board Member of Expert Eleven AB and Graviton AB Experience: Mr. Ehrenblad holds a M.Sc. in Business Administration from University of Uppsala, Sweden. Mr. Ehrenblad works in investment, financial and management consulting and has board experience from various private companies. Independent of the Company and the senior management: No. Independent of major shareholders: Yes. Shareholding in Maha (Sweden): 779 607 A-Shares and a Company he is associated with owns 150,000 A-Shares. Shareholding in Maha (Canada): N/A Member of Corporate Governance and Compensation Committee Member of Audit Committee Harald Pousette Born 1965 Bachelor of Arts (Economics) Member of the Board of Directors since June 2017. Other assignments: Chairman of Bil- och Traktorservice i Stigtomta AB, Jitech AB, BOX Bygg AB. Board member of Scandi Standard AB, Stig Svenssons Motorverkstad AB and Fendea AB. Previous assignments: Managing Director, The Collins Group. Vice President, Dresdner Kleinwort Wasserstein. Sales trader and portfolio manager, Nordiska Fondkommision. Foreign exchange and fixed income trader, Gota Bank. Experience: Mr. Pousette holds a Bachelor of Arts (Economics) from the University of Uppsala, Sweden. Mr. Pousette is currently the CEO of Kvalitena Industrier AB. CFO of Kvalitena AB. The Collins Group as Managing Director. Dresdner Kleinwort Wasserstein as Vice President. Nordiska Fondkommission as a sales trader and portfolio manager. He has worked with Gota Bank with the Foreign Exchange and Fixed Income Trade Department. Independent of the Company and the senior management: Yes. Independent of major shareholders: No. Shareholding in Maha (Sweden): 174,142 Maha Energy Board of Directors Shareholder Information 2018 Q2 Financial Report August 29, 2018 Maha Energy AB Financial Report for the period ending 30 June 2018 Read More 2018 Q1 Financial Report May 29, 2018 Maha Energy AB Financial Report for the period ending 31 March 2018 Read More 2017 Q4 Financial Report December 31, 2017 Maha Energy AB Financial Report for the period ending 31 December 2017 Read More 2017 Q3 Financial Report September 30, 2017 Maha Energy AB Financial Report for the period ending 30 September 2017 Read More List of Major Shareholders As of June 29, 2018 LIST OF MAJOR SHAREHOLDERS Major Shareholder Number of Shares Held % of Outstanding Shares Kvalitena AB 22,034,120 22.5% SIX SIS AG, W8IMY 5,140,000 5.3% Jonas Lindvall (Maha CEO and Managing Director)* 4,931,147 5.0% UBS Switzerland AG / Client Accounts 4,808,496 4.9% Forsakringsaktiebolaget, Avanza Pension 3,897,799 4.0% Ron Panchuk (Maha Vice President and CCO) 2,934,016 3.0% Al Subhi, Talal Saif 2,005,908 2.0% Danica Pension Forsakrings AB 1,660,862 1.7% BNY Mellon SA/NV (Former BNY) 1,375,580 1.4% Phantom de Genolier AB 1,209,548 1.2% SUB TOTAL 49,997,476 51.1% Remaining Shareholders (approximately 5,822) 47,873,098 48.9% TOTAL MAHA A AND MAHA B * 30,000 shares on loan to Penser Bank AB 97,870,574 100% Latest Press Release Maha Energy AB: FILING OF SECOND QUARTER REPORT August 29, 2018 The Company’s certified advisor is FNCA. The Company’s auditor is Deloitte. CONNECT NEWSLETTER SIGN UP FOR OUR NEWSLETTER Copyright All Rights Reserved © 2018