Publication of Circular and Notice of General Meeting regarding Proposed acquisition of certain Southeast Asian producing and exploration assets from Santos Limited

Further to the announcement by Ophir on 3 May 2018 relating to the proposed acquisition of a package of Southeast Asian assets from Santos Limited, an Australian listed Oil & Gas company, for an aggregate cash consideration of $205 million pre-working capital adjustments, subject to certain approvals (the “Transaction”), Ophir announces that the UK Listing Authority has today approved a class 1 circular in relation to the Transaction (the “Circular”).

Section 430(2B) Announcement

This announcement sets out the disclosure required by section 430(2B) of the Companies Act 2006 in relation to the departure of Nicholas Cooper from Ophir Energy plc (the “Company”).

Operations and Trading Update

Ophir provides the following update on its trading and operations for the six-month period ending 30 June 2018.

Fortuna Update

We note the announcement by Golar LNG Partners’ regarding the dissolution of its OneLNG joint venture with Schlumberger. Whilst it is disappointing that Schlumberger will no longer be part of the partnership group, Golar and Ophir remain actively engaged in senior level discussions with a number of counterparties over a financing solution for the project.

Nick Cooper to Step Down as Chief Executive Officer

The Board of Ophir (the “Board”) announces that, by mutual agreement, Dr Nicholas (Nick) Cooper the current Chief Executive Officer and Executive Director, has stepped down from the Board with immediate effect. Nick will remain an employee of the Company at this time and will be leaving the Company after a short handover period. Mr Alan Booth, currently a non-executive director of the Company, has been appointed as Interim Chief Executive Officer and Executive Director, until a new Chief Executive Officer is appointed.

Results of Annual General Meeting

Ophir Energy plc held its Annual General Meeting today, 16 May 2018, at Linklaters LLP, 1 Silk Street, London, EC2Y 8HQ. All resolutions were put to the meeting on a poll, the full results of which are given below.

Farm-out of EG-24 exploration licence

Ophir announces that it has entered into a farm-out agreement with Kosmos Energy (“Kosmos”) covering the EG-24 exploration licence in Equatorial Guinea.

Proposed Acquisition of a package of Southeast Asian assets from Santos

Ophir has agreed to acquire a package of Southeast Asian assets from Santos Limited, an Australian listed Oil & Gas company, for an aggregate cash consideration of $205 million pre-working capital adjustments, subject to certain approvals (the “Transaction”). The portfolio of assets includes material producing assets in Vietnam and Indonesia plus exploration and appraisal assets in Malaysia, Vietnam and Bangladesh.

Full Year Results for the year ended 31 December 2017

2017 saw Ophir take important steps to adapt and right-size the business, meet key operational targets and replenish our exploration portfolio. Nevertheless, we are disappointed to have not yet achieved the Fortuna project FID despite having made significant progress on the project.