Change of Nominated Adviser and Broker

2 March 2015

Volga Gas plc

("Volga Gas" or the "Company")

Change of Nominated Adviser and Broker

Volga Gas plc, the oil and gas exploration and production group operating in the Volga Region of Russia announces that the status of Oriel Securities Limited ("Oriel") as a nominated adviser has been transferred to Stifel Nicolaus Europe Limited ("Stifel"). This is as a result of a group reorganisation following the acquisition of Oriel by Stifel Financial Corp. With immediate effect, the Company's nominated adviser and broker is therefore Stifel. For further information see the AIM Notice dated 2 March 2015.

For further information, please contact:

Editors' notes:

Volga Gas is an independent oil and gas exploration and production company operating in the Volga region of Russia. The Company has 100% interests in its four licence areas.