Eland Oil & Gas Regulatory News (ELA)

14 April 2016

Eland Oil & Gas PLC

 ("Eland" or the "Company")

Opuama-3 Workover Update

Eland Oil & Gas PLC (AIM: ELA), an oil & gas production and development company operating in West Africa with an initial focus on Nigeria, is pleased to announce the following operational update on the Opuama-3 well re-entry.

· Canal access clearing operations have been completed, providing the required access to the Opuama-3 wellhead.

· Mobilisation of contractor equipment, crude storage barges and the associated marine spread from Warri and Port Harcourt to the Opuama-3 wellhead has been completed. All equipment required for re-entry operations is on site.

· Operations have begun and the planned Production Logging Tool (PLT) runs have been completed, successfully removing uncertainty with respect to oil and water producing intervals.

· The team will now carry out a water shut-off, before perforating the D2000 reservoir and an additional interval in the D1000 reservoir.

· The two new perforated intervals are expected, in aggregate, to produce a further 2,000 to 4,000 bopd (gross).

We anticipate completing flow-testing of Opuama-3, including the two perforated intervals, within the coming weeks. Further releases to the market will be made as and when appropriate.

George Maxwell, CEO of Eland, commented:

"We are pleased to announce that workover operations have commenced on Opuama-3, as we predicted in our operational update on 16 February this year. We look forward to positive news as we perforate two new zones which we believe to be highly productive and which potentially could almost double reported production rates from OML 40 at a relatively minimal cost".

For further information:

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

www.elandoilandgas.com

George Maxwell, CEO

Louis Castro, CFO

Finlay Thomson, IR

Canaccord Genuity Limited (+44 (0)20 7 523 8000)

Henry Fitzgerald O'Connor