22 July 2016

Volga Gas plc

('Volga Gas', the 'Company' or the 'Group')

Transaction In Own Shares

Volga Gas announces that it has purchased the following number of its ordinary shares of 10p each on AIM via Stifel Nicolaus Europe Limited.

Ordinary Shares:

Date of purchase: 21 July 2016

Number of ordinary shares purchased: 50,000

Highest price paid per share: 47.25p

Lowest price paid per share: 47.25p

Volume weighted average price per share: 47.25p

The Company purchased the shares to settle a bonus payment to its Chief Executive Officer. The shares purchased are to be registered directly in the name of Andrey Zozulya.

Following the purchase of these shares, Volga Gas holds none of its ordinary shares in treasury.

For further information, please contact:

Volga Gas plc

Andrey Zozulya, Chief Executive Officer

Vadim Son, Chief Financial Officer

Tony Alves, Investor Relations Consultant

+7 495 721 1233

+44 (0)7824 884 342

Stifel Nicolaus Europe Limited (Nominated Adviser and Broker)

+44 (0)20 7710 7600

Callum Stewart, Ashton Clanfield

FTI Consulting

+44 (0)20 3727 1000

Edward Westropp, Alex Beagley

Editors' notes:

Volga Gas is an independent oil and gas exploration and production company operating in the Volga region of Russia. The company has 100% interests in its four licence areas.

Volga Gas plc published this content on 22 July 2016 and is solely responsible for the information contained herein.
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