Statement regarding Premier Oil plc

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM, ANY RESTRICTED JURISDICTIONS OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION. THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.8 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE").

OPHIR ENERGY PLC

("Ophir" or the "Company")

Statement regarding Premier Oil plc ("Premier")

28 April 2014: Further to recent press speculation, Ophir confirms that it recently made an approach to the Board of Premier with an indicative proposal to merge the two businesses. The Ophir Board believed that merging the two businesses provided the potential to create a well-funded, re-focussed, full cycle Exploration and Production company. However, the proposal was subsequently rejected by the Premier Board.

Ophir confirms that it is no longer considering making an offer for Premier.

As a result of this announcement, Ophir will, except with the consent of the Panel, be bound by the restrictions contained in Rule 2.8 of the Code. For the purposes of Rule 2.8 of the Code, Ophir reserves the right to make or participate in an offer for Premier (and/or take any other action which would otherwise be restricted under Rule 2.8 of the Code) within the next six months following the date of this announcement in the circumstances set out in Note 2 on Rule 2.8 of the Code.

For further information, please contact:

Morgan Stanley & Co. International plc ("Morgan Stanley") is acting as joint financial adviser for Ophir and no one else in connection with this announcement and will not regard any other person as its client in relation to the matters referred to in this announcement and will not be responsible to anyone other than Ophir for providing the protections afforded to clients of Morgan Stanley, nor for providing advice in relation to the matters referred to in this announcement.

Evercore Partners International LLP ("Evercore"), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting as joint financial adviser for Ophir and no one else in connection with this announcement and will not regard any other person as its client in relation to the matters referred to in this announcement and will not be responsible to anyone other than Ophir for providing the protections afforded to clients of Evercore, nor for providing advice in relation to the matters referred to in this announcement.