Statement re Announcement by Pareto Securities

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES OF AMERICA (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA), AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN

22 June 2016

IGas Energy Plc

("IGas" or "The Company")

Statement re Announcement by Pareto Securities

The Company notes the announcement today by Pareto Securities AS, on behalf of an undisclosed client regarding an offer to holders of IGas's USD 165 million senior secured bonds. The announcement can be viewed at http://www.newsweb.no/newsweb/search.do?messageId=404683.

Further to the announcement on 14th June 2016 IGas is in active discussions with its leading bondholders.

The Company will provide a further update as appropriate.

For further information please contact:

IGas Energy plc Tel: +44 (0)20 7993 9899

Stephen Bowler, Chief Executive Officer

Julian Tedder, Chief Financial Officer

Ann-marie Wilkinson, Director of Corporate Affairs

Investec Bank plc (NOMAD and Joint Corporate Broker)

Tel: +44 (0)20 7597 4000

Sara Hale/Jeremy Ellis/George Price

Canaccord Genuity (Joint Corporate Broker) Tel: +44 (0)20 7523 8000

Henry Fitzgerald-O'Connor

Vigo Communications Tel: +44 (0)20 7830 9700

Patrick D'Ancona/Chris McMahon