Completion of IFC Equity Subscription

18 December 2013

PRESIDENT ENERGY PLC

("President" or "the Company")

Completion of International Finance Corporation Equity Subscription

President is pleased to announce that the Company has received £9.375 million (approximately US$15 million) from the International Finance Corporation ("IFC"), a member of the World Bank Group, in order to complete the placement and issue to the IFC of the 37.5 million new ordinary shares in accordance with the terms of the Subscription Agreement announced on 5 December 2013.

Application for admission of the 37.5 million new ordinary shares to trading on the AIM market of the London Stock Exchange has been made with admission expected to take place on 19 December 2013.

Following completion of the Placement, the Company will have a total of 306,549,887 ordinary shares in issue and IFC will hold approximately 12.2% of the Company's enlarged issued ordinary share capital.