Eland Oil & Gas Regulatory News (ELA)

16 November 2015

Eland Oil & Gas PLC

("Eland" or the "Company")

Operational Update

Eland Oil & Gas PLC (AIM:ELA), the oil and gas production, development and exploration company operating in West Africa with a principal focus on Nigeria, is pleased to announce that it has materially increased current production rates.

Following the successful workover of the Opuama-1 well, the Opuama field is now producing from 4 strings from 2 wells. This successful intervention has resulted in an increase in average gross production output to 4,400 bopd (1,980 bopd net to Elcrest Exploration and Production Nigeria Ltd, Eland's joint venture company). This represents an increase of over 50% from previously announced production levels.

The Opuama Field has recorded 93% uptime in the 4 months between July and October this year.

George Maxwell, CEO of Eland Oil & Gas commented:

"Having stabilised production and uptime on Opuama field earlier in the year, we placed renewed focused on low cost workover potential in the field. It is most welcome that we are starting to see the production increase from this initiative. With further work planned, we have a number of options to continue these production increases prior to commencement of the drilling campaign.

NNPC, under new management, has again confirmed the position of Elcrest as lead operator of OML 40, pending the review and execution of a new Joint Operating Agreement. We are actively working with NNPC to accelerate this process to complete as soon as possible and continue with the development drilling campaign."

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