Final Dividend Payment and Currency Election

11 April 2019

VOLGA GAS PLC

(The "Company")

Final Dividend Payment and Currency Election

Dividend payment and record dates

The Company announced on 8 April 2019 that its board has proposed a final dividend of US$0.065 per ordinary share. The interim dividend will be paid on 28 May 2019, to shareholders on the register on 3 May 2019, subject to approval at the Company's Annual General Meeting on 20 May 2019.

Shareholders will receive the dividends in US dollars unless they elect to be paid in Sterling.

Dividend currency election

Shareholders who have previously elected to be paid in Sterling 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: 

https://www.volgagas.com/media/011018/Volga%20Gas%20Dividend%20Currency%20Election%20Form.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, Link Asset Services as soon as possible and in any case by no later than close of business on 10 May 2019 (the "election deadline").

Terms and conditions relating to currency election are set out in a document that can be downloaded via this link:

https://www.volgagas.com/media/011018/Volga-Gas-Currency-Election-Terms-and-Conditions.pdf

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

For additional 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.