Equatorial Guinea Commercialisation Update

Ophir Energy plc

Equatorial Guinea Commercialisation Update

London, 20 February 2014: Ophir Energy plc ("Ophir" or "the Company") is pleased to provide an update on progress with regards to the proposed development of the Company's gas resources in Equatorial Guinea.

Letter of Intent to appoint Petrofac as Development Operator

A non-binding Letter of Intent has been signed with Petrofac to provide services as operator of the proposed gas development up to the Final Investment Decision. These services are expected to include, amongst other activities, preparing and issuing the Field Development Plan for the project and co-ordination of the interface between the upstream and midstream elements of the development. The provision of services is conditional on a binding agreement being reached between Ophir and Petrofac.

Progress on Midstream Floating LNG solution

In order to finalise the preferred midstream solution for the proposed gas development in Equatorial Guinea, Ophir has held discussions with a number of Floating LNG ("FLNG") vessel providers. The Company has received several proposals, a number of which have now been shortlisted for further assessment with non-binding Letters of Intent signed today in Singapore with the counterparties involved. The Ministry of Mines, Industry and Energy and Ophir are reviewing the competing proposals and are planning to execute a Memorandum of Understanding with the preferred FLNG vessel provider on completion of the process.

Nick Cooper, CEO, commented:

"The Company is making considerable progress in commercialising the gas resource we have proved up to date in Equatorial Guinea. The proposed FLNG project has received strong support from the Government and we look forward to communicating to the market further progress through the year as the project gathers momentum."

Ends

For Further Enquiries please contact:

Ophir Energy plc +44 (0)20 7290 5800

Nick Cooper, CEO

Richard Rose, Corporate Communications and Strategy

Brunswick Group +44 (0)20 7404 5959

Patrick Handley

Elizabeth Adams

Notes to Editors

Ophir Energy (OPHR.LN) is an African focused, upstream oil and gas exploration company which is listed on the London Stock Exchange (FTSE 250). Ophir has an extensive deepwater acreage position in West and East Africa acquired since its foundation in 2004.

The Group's headquarters are located in London (England), with operational offices in Perth (Australia), Dar es Salaam and Mtwara (Tanzania), Malabo (Equatorial Guinea), Libreville (Gabon), Nairobi (Kenya) and Accra (Ghana).

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