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13 July 2011
13/07/2011 The London Stock Exchange welcomes Ophir Energy to the Main Market

Ophir Energy is an independent oil and gas exploration company with a focus on Africa. Since its foundation in 2004, the Company has acquired an extensive portfolio of exploration and appraisal interests and its current portfolio comprises 17 assets and approximately 90,000km2 of net exploration acreage across eight jurisdictions in Africa, ranking the Company in the top five holders of deepwater exploration acreage in Africa.

Ophir raised approximately US$375 million by way of placing 93,867,334 new Ordinary Shares to existing shareholders and new institutional shareholders at 250p per Ordinary Share, giving it a market capitalisation of approximately £798.7 million (equivalent to US$1,276 million) at the commencement of conditional dealings.

ophir

The net proceeds from the Global Offer will primarily be used to fully fund the Company's 18 month exploration and appraisal campaign which includes the drilling of 12 wells in five countries by December 2012.

Following Admission, it is anticipated that Ophir will become a member of the FTSE250 and will be included in the FTSE UK Index Series, within the Oil & Gas Producers sector.

Nick Cooper, Managing Director of Ophir said:

"I am delighted to announce the successful completion of our IPO and the unconditional trading of all shares this morning on the main market of the London Stock Exchange. We are extremely pleased with the demand and reaction shown by investors to Ophir in what is a challenging stock market environment. I would like to welcome all of our new investors and thank our existing shareholders for the strong support they have shown the Company during the process.

"We have a very busy period ahead of us as we grow Ophir to become a leading independent African exploration and production company. The proceeds raised will be applied to our extensive exploration and appraisal drilling campaigns over the next 18 months which offer the potential to deliver significant value to our new and existing shareholders."

Credit Suisse acted as Sponsor, Global Coordinator, Joint Bookrunner and Lead Manager, with J.P. Morgan Cazenove as Joint Bookrunner and Lead Manager and RBC Capital Markets as Joint Bookrunner, and Oriel Securities Limited and Standard Bank plc as syndicate members. Lexicon Partners acted as financial advisor to Ophir Energy,

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