Replacement: Transaction in Own Shares

RNS Number : 5574Y

Eland Oil & Gas PLC

09 May 2019

09 May 2019

Eland Oil & Gas PLC

("Eland" or the "Company")

Transaction in Own Shares - Correction to disclosure released on 08 May 2019

Eland Oil & Gas PLC wishes to inform the market of a correction to the disclosure shown below. The Highest price paid per Ordinary Share should have been 122.0000, and not 121.0000 as previously quoted. The Lowest price paid per Ordinary Share should have been 121.0000, and not 122.0000 as previously quoted.

The below announcement has been corrected, and all other details remain the same.

Eland Oil & Gas PLC (AIM:ELA), an oil & gas production and development company operating in West Africa with an initial focus on Nigeria, announces that it has made the following redemptions pursuant to the share buyback programme (the "Programme") announced on 19 November 2018 and amended on 20 March 2019:

Date of purchase:	08 May 2019
Number of Ordinary Shares purchased:	21,779
Highest price paid per Ordinary Share:	122.0000
Lowest price paid per Ordinary Share:	121.0000
Volume weighted average price per Ordinary Share:	121.6887

Following the repurchase of the shares set out above, the Company's issued share capital consists of 220,164,155 Ordinary Shares. 2,845,997 Ordinary shares are held in Treasury. For reporting under the FCA's Disclosure and Transparency Rules, Shareholders should exclude any shares held in Treasury and should use the figure of 217,318,158 Ordinary Shares (the issued voting share capital) when determining if they are required to notify their interest, or a change of their interest in the Company.

The Company will make further announcements in due course following the completion of any further purchases pursuant to the Programme.

In accordance with Article 5(1)(b) of the Market Abuse Regulation (EU) No 596/2014 details of the purchase of its own ordinary shares by the Company, which were all executed at the discretion of the Company's broker, Stifel Nicolaus Europe Limited, are set out below:

Schedule of Purchases:
Shares purchased:	Eland Oil & Gas PLC (ISIN: GB00B8HHWX64)
Date of purchase:	08 May 2019

Aggregate Information:
Aggregated volume	21,779
Volume weighted average price	121.6887
Venue	XLON

Individual Transactions:
Date of purchase	Time of purchase	Number of Ordinary Shares purchased:	Price paid per Ordinary Share (p)
08/05/2019	12:37:40	5,000	122.0
08/05/2019	12:45:27	1,547	121.6
08/05/2019	13:18:10	3,072	121.6
08/05/2019	14:13:13	381	121.6
08/05/2019	15:59:10	2,266	121.8
08/05/2019	16:20:33	662	121.8
08/05/2019	16:20:33	2,072	121.8
08/05/2019	16:20:40	3,233	121.6
08/05/2019	16:28:07	1,767	121.6
08/05/2019	16:28:58	209	121.0
08/05/2019	16:29:39	1,567	121.0
08/05/2019	16:35:20	3	121.0

For further information:

Eland Oil & Gas PLC ([phone])

www.elandoilandgas.com

George Maxwell, CEO

Ronald Bain, CFO

Finlay Thomson, IR

Peel Hunt LLP, Nominated Adviser & Joint Broker ([phone])

Richard Crichton

David McKeown

Stifel Nicolaus Europe Limited, Joint Broker ([phone])

Callum Stewart

Nicholas Rhodes

Ashton Clanfield

Camarco ([phone])

Billy Clegg

Georgia Edmonds

Tom Huddart

This announcement contains inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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