Interim Dividend Currency Election

15 September 2014

VOLGA GAS PLC

Interim Dividend Currency Election

Volga Gas plc (the "Company"), the oil and gas exploration and production group operating in the Volga Region of Russia, announced today that the Company would be paying an Interim Dividend of US$0.0375 per Ordinary Share. The dividend will be paid on 24 October 2014 to shareholders on the register on 26 September 2014. Shareholders will receive the dividends in US dollars unless they elect to be paid in Sterling.

Non-CREST Shareholders wishing to elect to receive dividends in Sterling should download the currency election form from this location: http://volgagas.com/media/37509/Volga-Gas-Currency-Election-Form.doc. 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 10 October 2014 (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 website: http://volgagas.com/investors/shareholder-information

For additional information please contact: