Nostrum Oil & Gas PLC (LSE: NOG) ('Nostrum', or 'the Company'), an independent oil and gas company engaging in the production, development and exploration of oil and gas in the pre-Caspian Basin, today announces its full year financial results for the twelve months ending 31 December 2019, together with the publication of the 2019 Annual Report for Nostrum and its subsidiaries taken as a whole ('the Group').

Kaat Van Hecke, CEO of Nostrum Oil & Gas commented: '2019 has been an extremely challenging year. We are working hard to try and reposition the Company as a low-cost producer which maximises the value of its infrastructure assets by filling our spare capacity with third party volumes. The transformation of the business away from being a pure E&P company towards a mid-stream processing Company will take time. We are working hard to achieve this goal as quickly as possible and hope to make concrete progress during 2020. In the meantime, we are looking to bring costs down as low as possible and maximise production from our existing wells. With the recent fall in the oil price we need to further reduce costs over and above the savings achieved in 2019.'

Contact:

Kirsty Hamilton-Smith

Tel: +44 203 740 7433

Email: ir@nog.co.uk

About Nostrum Oil & Gas

Nostrum Oil & Gas PLC is an independent oil and gas company currently engaging in the production, development and exploration of oil and gas in the pre-Caspian Basin. Its shares are listed on the London Stock Exchange (ticker symbol: NOG). The principal producing asset of Nostrum Oil & Gas PLC is the Chinarevskoye field, in which it holds a 100% interest and is the operator through its wholly-owned subsidiary Zhaikmunai LLP. In addition, Nostrum Oil & Gas holds a 100% interest in and is the operator of the Rostoshinskoye, Darjinskoye and Yuzhno-Gremyachinskoye oil and gas fields through the same subsidiary. Located in the pre-Caspian basin to the north-west of Uralsk, these exploration and development fields are situated approximately 60 and 120 kilometres respectively from the Chinarevskoye field.

Forward-Looking Statements

Some of the statements in this document are forward-looking. Forward-looking statements include statements regarding the intent, belief and current expectations of the Partnership or its officers with respect to various matters. When used in this document, the words 'expects,' 'believes,' 'anticipates,' 'plans,' 'may,' 'will,' 'should' and similar expressions, and the negatives thereof, are intended to identify forward-looking statements. Such statements are not promises or guarantees, and are subject to risks and uncertainties that could cause actual outcomes to differ materially from those suggested by any such statements.

No part of this announcement constitutes, or shall be taken to constitute, an invitation or inducement to invest in the Company or any other entity, and shareholders of the Company are cautioned not to place undue reliance on the forward-looking statements. Save as required by the Listing Rules and applicable law, the Company does not undertake to update or change any forward-looking statements to reflect events occurring after the date of this announcement.

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