Holding(s) in Company

Spitfire Oil Limited

54 Jermyn Street, London SW1Y 6LX, United Kingdom

Telephone: + 44 (0)20 7629 7774 Facsimile: + 44 (0)20 7629 7773

 23rd May 2017

Significant Shareholdings

Spitfire Oil Limited ('the Company") has today been advised that Paul and Michelle Johnson have acquired a beneficial holding of 894,832 shares in the Company representing 3.46% of the total issued share capital the Company.

Spitfire Oil Ltd: Telephone: +44 (0)20 7629 7774

Mladen Ninkov - Chairman

Roger Goodwin - Director

Panmure Gordon (UK) Limited: Telephone: +44 (0)20 7886 2500

Dominic Morley

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No.596/2014.

Spitfire Oil Limited's shares are quoted on the Alternative Investment Market (AIM) of the London Stock Exchange (symbol SRO).

The Company's news releases are available on the Company's web site: www.spitfireoil.com