WGP Management Changes

12 October 2016

Thalassa Holdings Ltd

(Reuters: THAL.L, Bloomberg: THAL:LN)

("Thalassa" or "the Company")

WGP Management Changes

The board of Thalassa regrets to announce the resignation of Mark Burnett as CEO of WGP Exploration Ltd, a wholly owned subsidiary of the Company. Mr Burnett has resigned for personal reasons, however the board of Thalassa is pleased to announce that Mr Burnett has agreed to serve as a non-executive director of WGP Group Ltd, the holding company of WGP Exploration Ltd.

Mr Francis Smulders, the chairman of WGP Group Ltd, will assume the role of Executive Chairman of WGP Exploration Ltd with immediate effect. Mr Smulders has over 26 years of professional experience in a wide range of industries including Oil & Gas, Retail, private equity and financial services. Mr Smulders started his career with Allseas Marine Contractors, a supplier of offshore installation services, before joining Marakon Associates in London where he was a Principal. He holds a Masters' degree in mechanical engineering from Delft University and an MBA from INSEAD.

Duncan Soukup, Chairman of Thalassa, said: "I would like to express my personal thanks to Mark for his 17 years of dedication and loyalty to WGP and I am sure that all who have worked with him will join me in wishing him the very best in his future endeavors. I am very pleased that Mark will still be available to support WGP Group Ltd as a director and I look forward to continuing to work with him. I also look forward to supporting Francis in his new role and wish him every success for the future."

Investor Enquiries:

Thalassa Holdings Ltd

Duncan Soukup, Chairman +33 (0)6 78 63 26 89

WH Ireland Limited (Nominated Adviser and Broker)

Chris Fielding, Head of Corporate Finance +44 (0)207 220 1650

Press Enquiries:

Square1 Consulting (Public Relations)

David Bick +44 (0)207 929 5599

www.thalassaholdingsltd.com