Capital Markets Day

Ophir Energy plc

Capital Markets Day - 23 October 2012

London, 23rd October 2012: Ophir Energy plc ("Ophir" or "the Company") will host its Capital Markets Day (CMD) for equity analysts and institutional investors today, commencing at 1.00pm GMT time.

There will be a presentation on the Company's strategy and portfolio by the senior management and operations team to update the market on its 2012 progress, its 2013 drilling programme and prospect inventory.

·; Significant new oil plays and prospects have been defined in Gabon and Equatorial Guinea, and new oil and gas prospectivity has been identified in Tanzania and Kenya.

·; In Equatorial Guinea, the Company is now targeting a full train of LNG exports with support from the Government for a fast track development.

·; Ophir's initial mapping of 2D seismic data in Tanzania Block 7 has identified a prospect (Mlinzi) with potential for 20+TCF estimated recoverable resource. The planned Upanga 3D seismic programme (due to start acquisition next week) will further delineate the prospect. Ophir plans to target Mlinzi with its 2013 drilling campaign.

·; Preliminary mapping of the new Tanzania Block 1 outboard Kusini 3D seismic covering the basin floor play has identified a prospect (Lead 1C) with 22+ TCF estimated recoverable resource. Ophir and BG Group envisage drilling Lead 1C in mid-2013.

·; Drilling is currently underway in Tanzania Block 1 to appraise the Jodari field, with a DST planned for January 2013.

·; Since last year's CMD, the 2012 drilling programme has increased the Company's net contingent 2C resource by 444% to 1.2 bboe, and the on-going acquisition and interpretation of nine 3D seismic programmes have also increased the Company's drilling inventory to 2.5 bboe (net risked prospective), enabling further high impact drilling in 2013 and beyond.

·; Ophir plans to drill up to 15 high impact wells in 2013.

The Company will further update the market in Q1 2013 with the results of its continuing seismic acquisition and interpretation across these plays, including refined resource estimates on the Tanzanian prospect inventory.

A live audiocast of the presentation will be available from the website (http://cache.cantos.com/webcast/static/ec2/4000/5275/6662/10545/Lobby/default.htm) and will be available for download with the presentations shortly afterwards.

Ends

For Further Enquiries please contact:

Ophir Energy plc +44 (0)20 7290 5800

Nick Cooper, CEO

Stephanie Prior, Commercial Manager

Brunswick Group +44 (0)20 7404 5959

Patrick Handley

Elizabeth Adams

Notes to Editors

Ophir Energy (OPHR.LN) is an African focussed, upstream oil and gas resource company which is a member of the FTSE 250. The Group's headquarters are located in London (England), with operational offices in Perth (Australia), Malabo (Equatorial Guinea), Dar es Salaam and Mtwara (Tanzania), Port Gentil, (Gabon) and Nairobi (Kenya).

Ophir is the 5th largest deepwater acreage holder in Africa, present in four key emerging sub-Saharan exploration themes, and the largest net acreage holder in offshore East Africa.

For further information on Ophir, please refer to www.ophir-energy.com