Statement re press speculation

3 June 2016

Eland Oil & Gas PLC

("Eland" or the "Company")

Statement re press speculation

The Company notes recent unsubstantiated press speculation regarding continued security incidents in the Niger Delta. The Company confirms that it is not aware of any incidents on its properties and confirms that the Company's continuing maintenance and operational activity remains unaffected.

For further information:

Eland Oil & Gas PLC (+44 (0)1224 737300)

www.elandoilandgas.com

George Maxwell, CEO

Olivier Serra, CFO

Finlay Thomson, IR

Canaccord Genuity Limited (+44 (0)20 7 523 8000)

Henry Fitzgerald O'Connor

Nilesh Patel

Panmure Gordon (UK) Limited (+44 (0)20 7 886 2500)

Adam James / Atholl Tweedie

Tom Salvesen

Camarco (+44 (0) 203 757 4980)

Billy Clegg / Georgia Mann