Update Regarding Suspension of Shares

PREMIER OIL PLC

("Premier" or "The Company")

Update Regarding Suspension of Shares

14 January 2016

As announced yesterday, Premier's ordinary shares remain suspended from trading on the London Stock Exchange, pending clarification from the UKLA on the status of the proposed acquisition of E.ON's UK North Sea assets. Discussions with the UKLA remain on-going and there can be no certainty over the period that the shares will remain suspended.

Enquiries:

Premier Oil plc Tel: 020 7730 1111

Tony Durrant, Chief Executive Officer

Richard Rose, Finance Director

Bell Pottinger Tel: 020 3772 2500

Gavin Davis

Henry Lerwill