Eland Oil & Gas Regulatory News (ELA)

(a) Name of exempt principal trader:

Citigroup Global Markets Limited

(b) Name of offeror/offeree in relation to whoserelevant securities this form relates:Use a separate form for each offeror/offeree

Eland Oil & Gas plc

(c) Name of the party to the offer with which exemptprincipal trader is connected:

Eland Oil & Gas plc

(d) Date dealing undertaken:

4 December 2019

(e) In addition to the company in 1(b) above, is the exempt principal trader making disclosures in respect of any other party to this offer?If it is a cash offer or possible cash offer, state "N/A"

YESSeplat Petroleum Development Company plc

Class of relevant security

Purchases/ sales

Total number of securities

Highest price per unit paid/received(GBP)

Lowest price per unit paid/received(GBP)

10p ordinary

Purchase

2,583

1.6391

1.6391

Class of relevant security

Product description e.g. CFD

Nature of dealinge.g. opening/closing along/short position,increasing/reducing along/short position

Number of reference securities

Price per unit(GBP)

10p ordinary

TRS

Reducing Long Position

2,583

1.6391

Class of relevant security

Product description e.g. call option

Writing, purchasing,selling,varying etc.

Number of securities towhich option relates

Exercise price per unit

Typee.g. American,European etc.

Expiry date

Option money paid/ received per unit

Class of relevant security

Product description e.g. call option

Exercising/ exercised against

Number ofsecurities

Exercise price per unit

Class of relevant security

Nature of dealinge.g. subscription, conversion

Details

Price per unit(if applicable)

Details of any indemnity or option arrangement, or any agreement or understanding,formal or informal, relating to relevant securities which may be an inducement to dealor refrain from dealing entered into by the exempt principal trader making thedisclosure and any party to the offer or any person acting in concert witha party to the offer:

Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state "none"

None

Details of any agreement, arrangement or understanding, formal or informal, betweenthe exempt principal trader making the disclosure and any other person relating to:(i) the voting rights of any relevant securities under any option; or(ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:

If there are no such agreements, arrangements or understandings, state "none"

None

Date of disclosure:

5 December 2019

Contact name:

Craig Watson

Telephone number:

+44 (28) 9040-9605