S430(2B) of the Companies Act 2006 - Lisa Mitchell

Ophir Energy plc

S430(2B) of the Companies Act 2006 - Lisa Mitchell

London 17 October 2014: Further to the announcement by the Company on 28 August 2014, Lisa Mitchell stood down from the Board as an Executive Director from today and will leave the Company on 19 November 2014.

The information required to be made available further by section 430(2B) of the Companies Act 2006 is set out below.

In accordance with the Directors' Service Agreement of Lisa Mitchell and the Remuneration Policy Report, the following has been agreed.

Payment in lieu of notice

Ms Mitchell has a 12 month notice period and the Company commenced her notice on 5 September 2014. Ms Mitchell will be paid her normal salary and benefits up to her departure date of 19 November 2014.

Following Ms Mitchell's departure the Company will be making monthly payments of salary for the balance of her unexpired notice period up to 5 September 2015 subject to mitigation if Ms Mitchell secures alternative income in the period up to 5 September 2015. Ms Mitchell's annual salary is £358,750 and therefore the maximum payment will be £284,010.

Redundancy Payment

As Ms Mitchell's role has been made redundant she will receive receiving a statutory redundancy payment of £2,088.

2014 Annual Bonus Payment

Ms Mitchell is entitled to receive an annual bonus payment for 2014 to the extent the relevant performance conditions have been met, which will be reduced on a time worked basis to reflect her departure date of 19 November 2014. The amount of her annual bonus will be confirmed in the 2015 Directors' Remuneration Report.

Long Term Incentive Awards

The awards granted under the Ophir Energy Long-Term Incentive plan 2011 (the "LTIP rules") to Ms Mitchell over an aggregate of 474,121 shares will be retained by her in accordance with the good leaver provisions under the rules of the LTIP (LTIP Rules) and shall vest on the Normal Vesting Date (as defined under the LTIP Rules) for each of the respective awards. The number of shares over which the awards shall be capable of exercise, subject to performance conditions being met, will be reduced on a time worked basis to reflect the period between the date of grant of the award and the 19 November 2014 as compared to the period from the date of grant of that award to the Normal Vesting Date for each award made to Ms Mitchell.

The 2012, 2013, and 2014 LTIP awards information will be updated in the 2015, 2016 and 2017 Directors' Remuneration Reports.

Employee Share Options

Ms Mitchell will be entitled to retain the options granted to her pursuant to the Ophir Energy Company Limited 2006 Share Option Plan (the 2006 ESOP) over an aggregate of 173,448 shares in the Company as they have vested in full and such options will, subject to the rules of the 2006 ESOP, remain exercisable until the 10th anniversary from the respective Date of Grant (as defined in the 2006 ESOP rules).

Pension - Related Benefits

Ms Mitchell will continue to receive a contribution to her pension including medical cover and life insurance until 19 November 2014 at which point these benefits will cease.

Ends

For Further Enquiries please contact:

Ophir Energy plc +44 (0)20 7811 2400

Nick Cooper, CEO

Chandrika Kher, Company Secretary

Brunswick Group +44 (0)20 7404 5959

Patrick Handley

Marleen Geerlof

Notes to Editors

Ophir Energy (OPHR.LN) is an upstream oil and gas exploration company which is listed on the London Stock Exchange (FTSE 250). The Group's headquarters are located in London (England), with operational offices in Perth (Australia), Dar es Salaam and Mtwara (Tanzania), Malabo (Equatorial Guinea), Libreville (Gabon) and Nairobi (Kenya).

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