Management and Directorate Change

13 April 2016

Volga Gas plc

("Volga Gas", the "Company" or the "Group")

MANAGEMENT AND DIRECTORATE CHANGE

Volga Gas plc, the oil and gas exploration and production group operating in the Volga Region of Russia, announces that with effect from 13 May 2016, Tony Alves will be standing down as Chief Financial Officer. The position of Chief Financial Officer of Volga Gas, which will be a non-board role, will be assumed at that point by Mr. Vadim Son, who since September 2015 has been working with the Group in Saratov as Finance Director of the Group's operating subsidiaries.

Mr. Alves, who has been in his current position since January 2009, will remain on the Board of Volga Gas until the Company's Annual General Meeting on 10 June 2016, after which he will continue to advise the Company on a consultancy basis.

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Editors' notes:

Volga Gas is an independent oil and gas exploration and production company operating in the Volga region of Russia. The company has 100% interests in its four licence areas.

Mr. Vadim Son, aged 38, qualified independently as an accountant via the Association of Chartered and Certified Accountants in 2008 and has previously held finance roles at various Schlumberger group companies operating in Russia and previously worked with a Vympel-Com subsidiary in Khabarovsk in his native Russian Far East region.