Gabon: Padouck Deep-1 Well Result

Ophir Energy plc

Gabon: Padouck Deep-1 Well Result

London, 19 March 2014: Ophir Energy plc ("Ophir" or "the Company") announces that drilling operations have now concluded on the Padouck Deep-1 well in the Ntsina Block offshore Gabon. Ophir has a 50%* net operated interest.

The well was drilled by the Vantage Titanium Explorer drillship to a depth of 3,297m TVDSS targeting the Cretaceous Gamba and Coniquet/Dentale sands in the pre-salt section. Thicker than expected, good quality Gamba and Coniquet/Dentale reservoir sands were encountered. There were no significant hydrocarbon shows in the targeted reservoirs, however, minor shows were interpreted at shallower intervals providing evidence of a working hydrocarbon system in the offshore North Gabon Basin. In addition, well log responses in the deeper pre-salt stratigraphy are similar to those observed onshore Gabon where they are indicative of an interbedded pre-salt source and reservoir system. Full analysis and interpretation of the log data is ongoing.

The key pre-drill risk was that of seal and trap integrity. The lack of the anticipated thin salt drape over this high relief prospect and the lack of sealing shales within the targeted reservoirs appear to be a cause of the prospect's failure.

The Vantage Titanium Explorer will now move to the Gnondo Block to drill the Affanga Deep prospect which has the potential to hold mean recoverable resources of 170mmb and to derisk several follow on prospects which could provide the basis for a hub development. The rig will then return to target the Okala pre-salt prospect on the Mbeli Block.

Nick Cooper, CEO, commented:

"The Padouck Deep-1 result is disappointing but its failure appears to be prospect-specific and does not dampen our enthusiasm for the broader pre-salt play offshore Gabon. The well did confirm the presence of thicker than anticipated, good quality reservoir sequences and also evidence of a working hydrocarbon system. Despite the lack of commercial success with Padouck Deep-1, these are positives for future exploration of the play. Trap integrity was identified as the key risk pre-drill and the absence of salt across this prospect is likely to have contributed to the result. The next pre-salt well will be on the Okala prospect where a thick salt section is interpreted above the target reservoirs."

*OMV farm-in for a 10% net interest is subject to Government approval

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 an operational office in Perth (Australia), and regional offices in 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