Olivier Serra joins as Chief Financial Officer

31 May 2016

Eland Oil & Gas PLC

("Eland" or the "Company")

Directorate Change

Olivier Serra joins as Chief Financial Officer

Eland Oil & Gas PLC (AIM: ELA), an oil & gas production and development company operating in West Africa with an initial focus on Nigeria, is pleased to announce that Olivier Serra has joined the Board of Eland as an Executive Director and Chief Financial Officer effective immediately.

Olivier Serra has over 23 years of energy and oil and gas experience and was most recently an independent advisor to oil and gas companies with SPTEC Advisory, a financing and M&A advisor.

Between 2010 and 2015 Olivier acted as CFO and Director of Sea Dragon Energy, a Canadian listed E&P company. Prior to joining Sea Dragon he spent 18 years in investment banking, primarily focused on structured debt products for the energy industry. During this time he was the Head of the Oil and Gas structured debt and acquisition finance department of BNP Paribas, where he supported the growth of Independent Oil Companies.

George Maxwell, CEO of Eland, commented:

"I am delighted to welcome Oliver to the Company. Olivier's wide ranging operational and financial knowledge and oil and gas expertise will be of considerable value to the Company as we enter our next stage of growth.

"I would like to thank Louis for his contribution to the Company and help growing the business and wish him every success in the future."

The following further information regarding the appointment of Ruy Olivier Serra, aged 46, is disclosed under Schedule 2(g) of the AIM Rules for Companies:

Directorships with last 5 years and dissolutions (where Olivier Serra was a director at the time of or within the twelve months preceding such events)

SDX Energy Inc (previously named Sea Dragon Energy Inc).

Mr Serra currently owns 58,824 ordinary shares in the Company.

For further information:

Eland Oil & Gas PLC (+44 (0)1224 737300)

www.elandoilandgas.com

George Maxwell, CEO

Olivier Serra, CFO

Finlay Thomson, IR

Canaccord Genuity Limited (+44 (0)20 7 523 8000)

Henry Fitzgerald O'Connor

Nilesh Patel

Panmure Gordon (UK) Limited (+44 (0)20 7 886 2500)

Adam James / Atholl Tweedie

Tom Salvesen

Camarco (+44 (0) 203 757 4980)

Billy Clegg / Georgia Mann