Magnolia Petroleum Plc - Board Changes

Magnolia Petroleum Plc / Index: AIM / Epic: MAGP / Sector: Oil & Gas

23 February 2017

Magnolia Petroleum Plc (‘Magnolia’ or ‘the Company’)

Board Changes

Magnolia Petroleum Plc, the AIM quoted US focused oil and gas exploration and production company, announces that non-executive Chairman Thomas Wagenhofer has resigned from the Company to concentrate on his other business commitments.

Ron Harwood, an existing non-executive Director of Magnolia, will assume the position of Chairman of the Company on an interim basis until a permanent replacement has been appointed.  Mr Wagenhofer has agreed to a one month handover to ensure an orderly transition. 

The information contained within this announcement constitutes inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014.

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For further information on Magnolia Petroleum Plc visit www.magnoliapetroleum.com or contact the following:

Steven Snead	Magnolia Petroleum Plc	+01918449 8750
Rita Whittington	Magnolia Petroleum Plc	+01918449 8750
Jo Turner / James Caithie	Cairn Financial Advisers LLP	[phone]
Colin Rowbury	Cornhill Capital Limited	[phone]
Lottie Brocklehurst	St Brides Partners Ltd	[phone]
Frank Buhagiar	St Brides Partners Ltd	[phone]

Notes

Magnolia Petroleum Plc is an AIM quoted, US focused, oil and gas exploration and production company.  Its portfolio includes interests in 154 producing and non-producing assets, primarily located in the highly productive Bakken/Three Forks Sanish hydrocarbon formations in North Dakota as well as the oil rich Mississippi Lime and the substantial and proven Woodford and Hunton formations in Oklahoma.

Summary of Wells

Category	Number of wells
Producing	154
Being drilled / completed	14
Elected to participate / waiting to spud	42
TOTAL	210

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