Press Release Natural Gas Discoveries

March 30, 2015

A N N O U N C E M E N T

regarding Two New Natural Gas Discoveries in

Suceava and Mures

Societatea Nationala de Gaze Naturale ROMGAZ SA completed this month the works for bringing into production test two new gas accumulations in the Moldavian Platform and in the Transylvanian Basin, nearby Frasin (Suceava County) and Cris (Mures County), respectively.

Frasin well, drilled at 4,100 m depth, is located in the exploration-development -production block RG 04 Moldova Nord, an area where ROMGAZ produces gas since 1972. This drilling operation, completed in January 2015, discovered a gas-condensate field which is currently under the development phase.

Cris well (Danes village, Mures County) is drilled at 2,600 m depth and is included in the block RG 03 Transilvania Sud, where some of the oldest Romanian natural gas fields are located. The discovery, made in January 2014, identified a new natural gas field where currently more wells are drilled for full assessment and development.

The daily production of these two new wells exceeds 2,600 barrels of oil equivalent per day, which is approximately 3% of the company's daily gas production. Both fields are included in the category of conventional hydrocarbon fields.

"One of ROMGAZ management main objectives of the past few years was and continues to be the development of gas resources and reserves portfolio, through discovery of new fields and development and enhanced recovery of existing resources. The company allocated resources for upgrade and modernization of existing facilities as well as for new investments, especially in geological exploration and production. Thus, in 2014, ROMGAZ spent RON 1,085.5 million for investments, out of which geological exploration and production expenses represented about 54%.

The production decline reduced to zero during the last 4 years confirms the actual potential of the exploration blocks under the development-production phase and encourages us to increase our efforts for capitalizing this potential. We will continue to focus on finding solutions both for increasing field productivity and the recovery rate, and for discovering new oil and gas fields" - Dumitru Rotar, Deputy Director General - Exploration and Production, S.N.G.N. ROMGAZ S.A. 

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This news release is for information only. All provided data refer to findings, intentions, expectations and forecasts made by S.N.G.N. ROMGAZ S.A. The information provided shall not constitute an invitation, offer, recommendation or an opinion expressed by S.N.G.N. ROMGAZ S.A. to any person to trade any of the shares; moreover this document and all information contained herein shall not constitute the basis for concluding any contract, making any investment decision or for any other kind of commitment. The information contained herein shall be available only for the date when they have been released to the public and are not intended to offer consultancy or advice in any matter.

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S.N.G.N. ROMGAZ S.A. is the largest natural gas producer and main gas supplier in Romania. The Company is admitted to trading on Bucharest Stock Exchange (BVB) and London Stock Exchange (LSE). The main shareholder is the Romanian state holding 70% interest share. The Company has extensive experience in natural gas exploration and production, with a history that started more than 100 years ago in 1909. ROMGAZ performs geological research for discovery of new gas fields, produces methane gas from the fields under its portfolio, stores gas in UGS, performs workovers, recompletions and special operations in wells under company's portfolio and provides specialized technological transportation. ROMGAZ has extended its business area starting from 2013 by taking over Iernut power plant and has become electricity producer and supplier.

Director General,

Virgil - Marius METEA