Directors’ Dealings and Issue of Equity

Magnolia Petroleum Plc, the AIM-quoted, US onshore-focused oil and gas exploration and production company, announces that it has today issued 4,500,000 new ordinary shares, representing 0.35 per cent. of its issued share capital, at a price of 0.2 pence per share to certain of its board members in lieu of directors’ fees for the period January 2016 to March 2016. The Directors have chosen to take their fees in shares in lieu of cash to help further reduce expenses.

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