Update on Magnolia Operated Shimanek #2 well

Magnolia Petroleum Plc, the AIM quoted US focused oil and gas exploration and production company, is pleased to announce that following its announcement on 13
July 2015 drilling operations at the Magnolia operated and 94% owned Shimanek #2 vertical well in Oklahoma are expected to commence imminently. The drilling crew
are now on site and the rig has been mobilised.

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