Eland Oil & Gas Regulatory News (ELA)

11 July 2016

Eland Oil & Gas PLC

("Eland" or the "Company")

Directorate Change

Eland Oil & Gas PLC (AIM: ELA), an oil & gas production and development company operating in West Africa with an initial focus on Nigeria, today announces the appointment of Henry Obi to the Board as a Non-Executive Director representing Helios Natural Resources a significant shareholder in Eland. Henry will replace Richard Norris who has been Helios Natural Resources' representative on the Board since September 2014. The Board thanks Richard for his valuable contribution and wishes him well for the future.

Henry Obi has over 15 years' experience in private equity sector and is currently a Partner and Chief Operating Officer at Helios Investment Partners LLP ("Helios") where he responsible for its operations and serves on Helios' Equity and Credit Investment Committees. Prior to joining Helios in 2006, Henry was a Partner at Aureos Advisers Limited where he was responsible for monitoring the performance of the firm's funds in Africa and Central America and their compliance with investment policy. Prior to Aureos, Henry worked for Actis, CDC Group Plc and Dynegy, a US energy trader.

Henry holds a BSc. Architecture and MSc. Architecture from University of Nigeria, a B.Arch. from University of Nottingham and an MBA in Finance from the London Business School. He sits on the Boards of Maris Capital Limited and the Africa Venture Capital Association. He also served as Chairman of the Africa Regional Advisory Council of Emerging Market Private Equity Association. He received Private Equity Africa's Outstanding Leadership Award in 2014 for his commitment to advancing the cause of private equity in Africa.

Henry Awele Obi's (age 53) current directorships and partnerships are as follows:

Advance American Style Inc.

African Private Equity & Venture Capital Association

Helios Credit Genpar, Limited

Helios Investment Partners, LLP

HIP Africa Ltd.

HIP Equity I, L.P.

HIP Equity II. L.P.

HIP Equity III, L.P.

Interswitch Limited

Maris Capital Limited

Mr Obi's directorships in the last five years are as follows

Royal Exchange Microfinance Bank Limited

Henry Obi indirectly holds 10,043 voting ordinary shares in Eland through HIP Equity II, L.P. ("HIP Equity") (representing 0.01% of the current voting ordinary share capital of the Company) and a further 1,150 non-voting ordinary shares indirectly through Helios Natural Resources Ltd whose only asset is shares in Eland. Any monetisation of the indirect stake is at the sole discretion of Helios Natural Resources Ltd.

Helios Natural Resources Limited holds 54,963,815 voting ordinary shares in the Company, including those held on behalf of Mr Obi as described above, representing 29.5% of the current voting ordinary share capital of the Company. Helios Natural Resources Ltd also hold 6,296,815 non-voting ordinary shares, including those held on behalf of Mr Obi.

For further information:

Eland Oil & Gas PLC (+44 (0)1224 737300)

www.elandoilandgas.com

George Maxwell, CEO

Olivier Serra, CFO

Finlay Thomson, IR

Canaccord Genuity Limited (+44 (0)20 7523 8000)

Henry Fitzgerald O'Connor

Nilesh Patel

Panmure Gordon (UK) Limited (+44 (0)20 7886 2500)

Adam James / Atholl Tweedie

Tom Salvesen

Camarco (+44 (0) 203 757 4980)

Billy Clegg / Georgia Mann