Statement Regarding Suspension

11 January 2016

Savannah Petroleum PLC

("Savannah" or the "Company")

Statement Regarding Suspension

At the request of the Company, Savannah's ordinary shares have been suspended from trading on AIM with effect from 7.30 a.m. this morning.

The Company has entered into non-binding heads of terms regarding a potential transaction which, if completed on the currently proposed terms, would be classified as a reverse takeover under the AIM Rules for Companies.

The Company's ordinary shares will remain suspended from trading on AIM until such time as either an admission document setting out details of the proposed transaction is published, which would be no earlier than April 2016, or confirmation is given that the transaction is not proceeding.

Further announcements will be made in due course.

For further information:

Savannah Petroleum

Andrew Knott, CEO +44 (0) 20 3817 9844

Jessica Hostage, Corporate Communications

Celicourt Communications (Financial PR)Mark Antelme +44 (0) 20 7520 9266

Jimmy Lea

Mirabaud (Broker)

Peter Krens +44 (0) 20 7878 3362

Rory Scott

Strand Hanson (Nominated Advisor)

Rory Murphy +44 (0) 20 7409 3494

James Spinney

Ritchie Balmer