Notice of AGM Dividend Payment & Currency Election

11 April 2017

VOLGA GAS PLC

Notice of Annual General Meeting,

Dividend Payment and Currency Election

Annual General Meeting

Volga Gas plc (the "Company"), the oil and gas exploration and production group operating in the Volga Region of Russia, is pleased to announce that its Annual General Meeting is to be held on 19 May 2017. The formal Notice of AGM with the full list of resolutions and the Proxy Voting forms will be dispatched to shareholders today. In addition the Notice and Proxy form may be downloaded from the following page on the company's website: http://volgagas.com/investors/shareholder-documents 

2016 Annual Report and Accounts

The Company's printed 2016 Annual Report and Accounts will be dispatched to shareholders as soon as practicable - expected to be by 3 May 2017. Meanwhile, the full text-version of the Accounts is available to be downloaded from the Company's website: www.volgagas.com/investors 

Dividend payment and record dates

The Company announced on 4 April 2017 that its Board has recommended Dividends of US$0.062 per Ordinary Share. The Dividend will be paid on 26 May 2017, subject to approval at the Company's Annual General Meeting on 19 May 2017, to shareholders on the register on 5 May 2017. 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, Capita as soon as possible and in any case by no later than close of business on 12 May 2017 (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: