Increase in Value of Reserves

Magnolia Petroleum Plc, the AIM quoted US onshore focused oil and gas exploration and production company, is pleased to announce an upgrade in the value of its net proved developed producing reserves (‘PDP’) to US$4,300,000 across the Company’s leases in proven US onshore formations such as the Woodford and Mississippi Lime, Oklahoma, and the Bakken and Three Forks Sanish, North Dakota.

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