Tanzania Block 1 Operations Update

Ophir Energy plc

Tanzania Block 1 Operations Update:

Jodari Appraisal Programme Successfully Derisks Field and Demonstrates Efficient Development Options

London, 12 December 2012: Ophir Energy plc ("Ophir" or "the Company") announces the successful results of its three-well appraisal programme on the Jodari field, Block 1 Tanzania. Ophir holds 40% of Blocks 1, 3 and 4; the BG Group operates with 60%.

The Ophir-BG Joint Venture has successfully completed appraisal drilling on the Jodari asset, Block 1 offshore Tanzania. Three wells were drilled into the discovery: Jodari South-1, Jodari South ST-1 (a deviated side-track) and Jodari North-1.

The appraisal programme achieved its objectives:

·; Demonstrated consistent, high-quality reservoir quality across the Jodari field

·; Reconfirmed the 3.4 TCF mean recoverable resource estimate

·; Confirmed the feasibility of high-angle (sub-horizontal) drilling thereby reducing development costs

Jodari South-1 was drilled 3.5km southwest of the Jodari-1 discovery well in 1,040m of water to a total depth of 3,441m TVDSS and was designed to evaluate the southern end of the Jodari field. The well was side-tracked to drill Jodari South ST-1 and drilled to 3,282m TVDSS as a high angle (sub-horizontal) well into the reservoir. Jodari North-1 was then drilled 6km north of the original Jodari-1 discovery well in 1,288m of water to 3,389m TVDSS to evaluate the northern accumulation.

The Jodari South-1 and Jodari North-1 wells encountered gas columns of 50m and 32.4m respectively. These appraisal results were on prognosis and have confirmed the widespread, high quality Oligocene reservoir properties. Gross recoverable resources for the Jodari asset have been re-confirmed at a mean case of 3.4TCF, with an upside P10 case of 3.7TCF. Separately the Jodari South ST-1 has confirmed the viability of high angle or horizontal development wells. This will help development planning and will reduce the number of producing wells required and therefore field development costs.

The Deep Sea Metro 1 drillship has now moved to the Mzia discovery to drill the Mzia-2 appraisal well, located 4km to the southeast of the Mzia-1 discovery well. Mzia-2 is expected to complete in late January 2013. Thereafter the rig will return to the Jodari asset to perform a drill stem test (DST). After the DST, the Joint Venture expects to recommence exploration in Block 1.

Interpretation of the 3D seismic data recently acquired in the eastern area of Block 1 continues. Basin floor fans and amalgamated channel sequences of Tertiary age have been interpreted; both are potentially analogous to those seen on the adjacent, Mozambique side of the Rovuma Delta.

Nick Cooper, CEO of Ophir said:

 "The appraisal programme has significantly de-risked the Jodari field underlining its potential to anchor Tanzania's first multi-train LNG development. The Ophir-BG Joint Venture will now appraise the Mzia discovery and return to Jodari-1 to conduct Tanzania's first flow test. Thereafter the Joint Venture expects to return to high impact exploration drilling in Block 1 during Q1 2013".

Ends

For Further Enquiries please contact:

Ophir Energy plc +44 (0)20 7290 5800

Nick Cooper, CEO

Stephanie Prior, Commercial Manager

Brunswick Group +44 (0)20 7404 5959

Patrick Handley

Elizabeth Adams

Notes to Editors

Ophir Energy (OPHR.LN) is an African focussed, upstream oil and gas resource company which is a member of the FTSE 250. The Group's headquarters are located in London (England), with operational offices in Perth (Australia), Malabo (Equatorial Guinea), Dar es Salaam and Mtwara (Tanzania), Port Gentil, (Gabon) and Nairobi (Kenya).

Ophir is the 5th largest deepwater acreage holder in Africa, present in four key emerging sub-Saharan exploration themes, and the largest net acreage holder in offshore East Africa.

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