Interim Management Statement

Ophir Energy plc

Interim Management Statement

London, 15 May 2012: Ophir Energy plc ("Ophir" or "the Company") provides an Interim Management Statement and Operational Update for the period 01 January 2012 to 15 May 2012.

Corporate Highlights since 01 January 2012

·; First quarter-end closing cash balance of $323MM; end April cash balance of $529MM

·; Closed acquisition of Dominion Petroleum Limited, as a result Ophir Energy becomes the largest net acreage holder in the offshore East Africa play

·; Strengthened balance sheet by raising $241MM through a cash-box placing of 30.5 new ordinary shares at 495p

·; Significant operational progress across the portfolio, with the Jodari-1 well providing the largest discovery in the Company's history

Tanzania

·; Jodari-1 finds 4.6 TCF gross recoverable resources in the Tertiary intraslope play

·; Drilling programme on the deeper Upper Cretaceous intraslope play continues

o Completion of Mzia-1 well in Block 1 expected later in May 2012

o Spud of Papa-1 well in Block 3 expected in June 2012

·; Commenced 3D seismic acquisition programme to explore the outboard potential of Block 1

·; Completion of seismic acquisition programmes in East Pande and Block 7

Equatorial Guinea

·; Three-well drilling programme in Equatorial Guinea expected to commence in late June 2012

Gabon

·; Completed acquisition of two 3D seismic programmes

·; Processing of pre-salt and post-salt seismic underway

Nick Cooper, CEO of Ophir Energy plc commented:

"Ophir continues to develop at pace. Over the past six months we have become the largest net acreage holder in the offshore East African play, acquired five seismic programmes in Tanzania and Gabon, and completed Jodari-1 as the largest discovery in the Company's history. The recent $241MM equity raise strengthens Ophir's balance sheet to support this momentum, and a further five well results are expected by the end of the summer".

Ends

For Further Enquiries please contact:

Ophir Energy plc +44 (0)20 7290 5800

Nick Cooper, CEO

Stephanie Prior, Commercial Manager

FTI Consulting (PR Advisor to Ophir) +44 (0)20 7269 7157

Billy Clegg/Edward Westropp

Notes to Editors

Ophir Energy (OPHR.LN) is an African focussed, upstream oil and gas resource company which is a member of the FTSE 250. The Group's headquarters are located in London (England), with operational offices in Perth (Australia), Malabo (Equatorial Guinea), Dar es Salaam and Mtwara (Tanzania), Dakar (Senegal), Nairobi (Kenya) and Kampala (Uganda).

Ophir is the 5th largest deepwater acreage holder in Africa, present in five key emerging sub-Saharan exploration themes, and the largest net acreage holder in offshore East Africa. The company has an extensive and diversified portfolio of assets across East and West Africa comprising of 22 licenses, 18 offshore and 4 onshore, in 11 countries including Tanzania, Equatorial Guinea and Gabon.

Ophir has a 2012-13 drilling campaign of over 20 wells across a mixture of proven and frontier plays.

For further information on Ophir, please refer to www.ophir-energy.com