Audited Argentine Reserves Upgrade

15 March 2017

PRESIDENT ENERGY PLC

("the Company" or "President Energy")

AUDITED ARGENTINE RESERVES UPGRADE

President Energy Group 2P Hydrocarbon Reserves now in excess of 20 MMBoe

President Energy (AIM: PPC), the oil and gas exploration company, provides the following reserves update on its Puesto Guardian Concession, Salta Province, Argentina.

Highlights:

· Argentine 1P Oil Reserves increase by 9% to 12 MMBoe of which 11.5 MMBbls is oil

· Argentine 2P Reserves increase by 10% to 19.9 MMBoe of which 19.1 million barrels (MMBbls) is oil with the balance gas

· President Energy Group 2P Reserves now total over 20 million barrels of oil equivalent (MMBoe), including the Company's producing Louisiana interests

President Energy's Hydrocarbon Reserves at its Puesto Guardian Concession, Salta, Argentina have been independently certified and audited by VYP Consultants, a Reserves Auditor regulated by and registered with the Argentine Federal Secretary of Energy. The audit, conducted under SEC and World Petroleum Congress regulatory principles, will be submitted to and filed with the Secretary of Energy as part of President Energy's annual operating obligations.

The increase in reserves reflects the impact of successful frac and stimulation campaigns on previously non-producing carbonate zones in the Cretaceous Formations which we are looking to replicate and enhance in this year's programme.

The Argentine Audited Reserves are shown in the following table:

Peter Levine, Chairman, commented:

"The Company's 2P Hydrocarbon Reserves are comparable to companies whose market capitalisation is a multiple of President's. Whilst five separate fields in the Concession have each their own characteristics, with the 2017 workover programme the key factor is to increase the production to reserves ratio.

The audit nevertheless highlights the potential of Puesto Guardian and its asset value is clear with the results demonstrating the continued ability of President to replace reserves even with the projected increase in production this year."

End

Glossary

1P are proven reserves with 90% probability of being recovered

2P are proven plus probable reserves with 50% probability of being recovered

MMBoe Millions of barrels of oil equivalent (oil and gas)

Note

The audit by VYP Consultants does not constitute a Competent Persons Report ("CPR"). The comparisons set out in the Highlights section above are between the Audit here announced and the last CPR on the Concession carried out by Gaffney, Cline & Associates dated 23 September 2015.

Miles Biggins, BSc Joint Honours University College London, with 25 years of experience in the oil and gas sector, is a Petroleum Engineer and member of the Society of Petroleum Engineers who meets the criteria of qualified persons under the AIM guidance note for mining and oil and gas companies, has reviewed and approved the technical information contained in this announcement.

This announcement is inside information for the purposes of article 7 of Regulation 596/2014

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