Completion of the Processing of the 2D Seismic Data

27 April 2015

Soma Oil & Gas Exploration Limited
(Soma Oil & Gas or the Company)

Completion of the Processing of the 2D Seismic Data

Soma Oil & Gas Exploration Limited, the Somalia focused oil and gas exploration company, is pleased to announce it has completed the processing and reprocessing of the acquired 2D seismic data (the processed seismic data).

The seismic acquisition programme was carried out by SeaBird Exploration (SeaBird) and concluded in June 2014 with over 20,500 km lines of 2D seismic data having been acquired across a 114,000 sq km offshore evaluation area.

Soma Oil & Gas will now provide the processed seismic data to the Ministry of Petroleum & Mineral Resources, Federal Government of Somalia (the Ministry) for use by the Ministry. The processed seismic data will be placed in the Ministrys data room in Mogadishu, as well as a data room in London and a virtual data room.

To date, the Company has invested approximately US$40 million on the Exploration Programme, more than double the required spend under the terms of the Seismic Option Agreement.

Soma Oil & Gas will serve the Notice of Completion of the Exploration Programme by 1 August 2015.

Robert Sheppard, CEO of Soma Oil & Gas, said:

Within twenty months of signing the Seismic Option Agreement, Soma has not only completed the acquisition of over 20,500 km lines of 2D seismic data in offshore deep water, with no security or HSE incidents, but has now finalised the processing and reprocessing of the acquired data which will now be gifted to the Ministry of Petroleum & Mineral Resources. This is a remarkable achievement for both the Company and the Federal Government of the Republic of Somalia.

www.somaoilandgas.com

FTI Consulting+44 (0) 203 727 1000
Ben Brewerton, Sara Powell somaoilandgas.sc@fticonsulting.com

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