Funding Update and Suspension of Trading

For immediate release 26 May 2015

Kea Petroleum plc

("Kea" or the "Company")

Funding Update and Suspension of Trading

Further to the Company's announcements of 21 April 2015 and 7 May 2015 in relation to the seeking of funds through PrimaryBid.com and the extension of the bid period to 22 May 2015, the Company announces that it has not secured bids totalling £3m at a minimum price of 1 pence per share that it sought to develop the Shannon prospect.

As announced previously, the Company's working capital remains tight and is reliant on the Company raising further funds. As a consequence of not raising sufficient funds through PrimaryBid.com or to date through other means the Company has requested a suspension of its shares to trading on AIM pending clarification of its financial position.

The Company continues to negotiate with parties on the potential farm-in of its assets as part of its previously announced strategic review.

Further announcements will be made in due course.

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