Final Dividend Currency Election

2 April 2015

VOLGA GAS PLC

Final Dividend Currency Election

Volga Gas plc (the "Company"), the oil and gas exploration and production group operating in the Volga Region of Russia, announced on 30 March 2015 that its Board has recommended a Final Dividend of US$0.0125 per Ordinary Share. The Final Dividend will be paid on 10 June 2015, subject to approval at the Company's Annual General Meeting on 5 June 2015, to shareholders on the register on 15 May 2015. Shareholders will receive the dividends in US dollars unless they elect to be paid in Sterling.

Shareholders who have elected to be paid in Sterling for the interim dividend in October 2014 need take no further action if they continue to wish to receive their dividends in Sterling.

Non-CREST Shareholders wishing to elect to receive dividends in Sterling may download the currency election form from this link: http://volgagas.com/media/37509/volga-gas-currency-election-form.pdf 

CREST shareholders should submit their election electronically via the CREST system.

The form (or if applicable CREST instruction) must be received by the Company's Registrars, Capita as soon as possible and in any case by no later than 5.00pm on 27 May 2015 (the "Election Deadline").

Terms and conditions relating to currency election are set out in a document that can be downloaded via this link: http://volgagas.com/media/37809/Volga-Gas-Currency-Election-Terms-and-Conditions.pdf

Further information can also be found at the following page on the Company's website: http://volgagas.com/investors/shareholder-information

For additional information please contact: