Ruspetro Regulatory News (RPO)

Ruspetro plc

29 April 2014

Ruspetro plc ("Ruspetro" or the "Company")

Grant of Long-term Incentive Award

London, 29 April 2014: Ruspetro plc (LSE: RPO) announces that on 30 January 2014 the Company's Remuneration Committee granted conditional long-term cash incentive awards as detailed below (the Awards) over a total number of 11,681,685 notional ordinary shares in the Company under the terms of the Performance Share Plan (PSP). For the avoidance of doubt, no person shall have at any time by virtue of the Awards any interest, conditional or otherwise, in respect to the legal or beneficial ownership of any shares in the Company or any part thereof.

Details of the Awards granted to the Executive Directors are as follows:

The total number of notional shares under each Award granted to the Executive Directors has been calculated by reference to an award level amounting to 150% of their salaries. Currently, the terms of the PSP limit awards (except in the case of the Chief Executive Officer) to 125% of salary. Shareholder approval is being sought at the Company's 2014 AGM to increase this maximum to 150% of salary for all Directors. Should shareholder approval not be obtained, the portion of each Award above 125% will lapse in respect of Alexander Chistyakov and Thomas Reed.

The remaining2,804,746 notional shares of the 11,681,685 total have been allocated to Awards granted to other employees on the same terms and with the same vesting conditions as those granted to the Executive Directors.

AllAwards take the form of "phantom" options which have a notional exercise price of 33p compared to theunderlying share price as at the date of grant of 24.75p. The actual number of notional shares to which each Award ultimately relates will be dependent upon the Company's share price and proportionate "Vesting" on a straight line basis as set out below:

The share price used to assess performance will be the Company's average share price for the 90 days ending on 31 December 2014. However, in order to fully align the interests of the Awardees with those of our shareholders, the Awardees will not be able to exercise any portion of their resulting award for a further three year (i.e. until at least four years after grant). On exercise, any gain in the notional share options will be payable wholly in cash.

Enquiries

Investor / Analyst enquiriesDaniel Barcelo, Ruspetro+44 207 887 7624

Twitter: @ruspetroplc

Media enquiriesFTI Consulting

Ben Brewerton; George Parker

+44 203 727 1000

About Ruspetro

Ruspetro plc is an independent oil and gas development and production company, with assets in the Western Siberia region of the Russian Federation. Our mission is to unlock the tight oil reservoirs in our asset base while building a leading regional independent E&P company in a safe and environmentally responsible manner for the long-term benefit of our shareholders.