Magnolia Petroleum Regulatory News (MAGP)

MAGNOLIA PETROLEUM PLC - Q4 2015 Operations Update

PR Newswire

London, February 10

Magnolia Petroleum Plc / Index: AIM / Epic: MAGP / Sector: Oil & Gas

10 February 2016

Magnolia Petroleum Plc (‘Magnolia’ or ‘the Company’)

Q4 2015 Operations Update

Magnolia Petroleum Plc, the AIM quoted US focused oil and gas exploration and production company, is pleased to announce a quarterly update on its operations across proven and producing US onshore hydrocarbon formations, including the Bakken/Three Forks Sanish in North Dakota and Montana, and the Woodford, Mississippi Lime and the Hunton in Oklahoma.

Q4 Highlights to 31 December 2015

Outlook

Magnolia COO, Rita Whittington said, “Magnolia now has interests in 210 producing wells in proven US onshore formations such as the Bakken in North Dakota and the Woodford and Mississippi Lime in Oklahoma. In the face of persistently low oil prices we continue to maintain strict control of our cost base to ensure as much of our internally generated revenues as possible are reinvested into new wells, specifically those where the economics of drilling remain attractive in the current market environment. I look forward to providing further updates on our progress in due course.”

Well Developments

The full list of well developments occurring in the quarter is set out below.

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For further information on Magnolia Petroleum Plc visit http://www.magnoliapetroleum.com/ or contact the following:

Notes

Magnolia Petroleum Plc is an AIM quoted, US focused, oil and gas exploration and production company. Its portfolio includes interests in 210 producing and non-producing assets, primarily located in the highly productive Bakken/Three Forks Sanish hydrocarbon formations in North Dakota as well as the oil rich Mississippi Lime and the substantial and proven Woodford and Hunton formations in Oklahoma.

Summary of Wells