Eland Oil & Gas Regulatory News (ELA)

1. Identity of the issuer or the underlying issuerof existing shares to which voting rights areattached: ii

Eland Oil & Gas Plc

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

x

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify):

3. Full name of person(s) subject to thenotification obligation: iii

Henderson Global Investors

4. Full name of shareholder(s)  (if different from 3.):iv

5. Date of the transaction and date onwhich the threshold is crossed orreached: v

04 July 2014

6. Date on which issuer notified:

07 July 2014

7. Threshold(s) that is/are crossed orreached: vi, vii

Below 26%

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type ofshares

if possible usingthe ISIN CODE

Situation previousto the triggeringtransaction

Resulting situation after the triggering transaction

NumberofShares

NumberofVotingRights

Numberof shares

Number of votingrights

% of voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

GBP1

32,934,942

32,934,942

32,114,305

22.73%

GB00B8HHWX64

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate xiii

Exercise/Conversion Period xiv

Number of votingrights that may beacquired if theinstrument isexercised/ converted.

% of votingrights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financialinstrument

Exercise price

Expiration date xvii

Exercise/Conversion period xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

CFD

4,228,345

Nominal

Delta

2.99%

Total (A+B+C)

Number of voting rights

Percentage of voting rights

36,342,650

25.72%

9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable: xxi

Proxy Voting:

10. Name of the proxy holder:

11. Number of voting rights proxy holder will ceaseto hold:

12. Date on which proxy holder will cease to holdvoting rights:

13. Additional information:

14. Contact name:

Cate Hex-Candy

15. Contact telephone number:

020 7818 2156

Eland Oil & Gas PLC

+44 (0) 207 016 3180

Les Blair, CEO

George Maxwell, CFO

Edward Cozens, IR

Canaccord Genuity Limited

+44 (0) 207 523 8000

Henry Fitzgerald-O'Connor

Peter Stewart

FirstEnergy Capital LLP

+44 (0) 207 448 0200

Majid Shafiq

Khalid Ahmed

Citigate Dewe Rogerson

+44 (0) 207 638 9571

Martin Jackson

Shabnam Bashir