Participating in Three SandRidge Energy Operated Wells in Oklahoma

Magnolia Petroleum plc, the AIM quoted US focused oil and gas exploration and production company, is pleased to announce that it has received notice from SandRidge Energy, the operator of the Gilchrist 2016 1-36H well (‘Gilchrist’) in Oklahoma, that three additional increased density wells are to be drilled on the same spacing unit to maximise the recovery of reserves.  This follows excellent Initial Production (‘IP’) rates for Gilchrist that were provided by the operator, which, at 652 BOPD and 1,178 MCFD or 770 BOEPD, significantly exceeded the Company’s projections of 570 BOEPD.

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