Interim Dividend Payment and Currency Election

1 October 2018

VOLGA GAS PLC

(The "Company")

Interim Dividend Payment and Currency Election

Dividend payment and record dates

The Company announced on 28 September 2018 that its board has declared an interim dividend of US$0.06 per ordinary share. The interim dividend will be paid on 2 November 2018, to shareholders on the register on 12 October 2018. 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:

http://www.volgagas.com/media/45216/volga-gas-dividend-currency-election-form.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 19 October 2018 (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 Company's website: http://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.