S430(2B) of the Companies Act 2006

Ophir Energy plc

S430(2B) of the Companies Act 2006 - Dennis McShane

London 4 November 2014: Further to the announcement by the Company on 28 August 2014, Dennis McShane 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 Dennis McShane and the Remuneration Policy Report, the following has been agreed.

Payment in lieu of notice

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

Following Mr McShane's departure the Company will be making monthly payments of salary for the balance of his unexpired notice period up to 5 September 2015 subject to mitigation if Mr McShane secures alternative income in the period up to 5 September 2015. Mr McShane's annual salary is £389,872 and therefore the maximum payment will be £316,170.15.

Redundancy Payment

Mr McShane's role has been made redundant, however, he does not qualify for statutory redundancy payment due to a lack of continuous employment.

2014 Annual Bonus Payment

Mr McShane 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 his departure date of 19 November 2014. The amount of his 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 Mr McShane over an aggregate of 419,979 shares will be retained by him 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 and to the LTIP Rules, will be reduced on a time worked basis to reflect the period between the date of grant of the award and 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 Mr McShane.

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

Employee Share Options

Pursuant to the rules of the Ophir Energy Company Limited 2006 Share Option Plan (the 2006 ESOP), the option which Mr McShane holds pursuant to the 2006 ESOP over an aggregate of 360,127 shares in the Company will automatically lapse as at 19 November 2014.

Pension - Related Benefits

Mr McShane will continue to receive a contribution to his 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