Fortune Oil : Confirmation No CVR Consideration is Payable

9569abe4-a9c2-4eaf-b930-706161a80285.pdf NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, OR FROM ANY RESTRICTED JURISDICTIONS OR ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION

For immediate release

10 March 2016

Completed Recommended Acquisition

of

FORTUNE OIL PLC

resulting in the holding by FORTUNE DYNASTY HOLDINGS LIMITED

(a company that is owned by (i) a member of the Vitol Group and (ii) First Level Holdings Limited)

of the entire issued and to be issued ordinary share capital of

Fortune Oil not already held by the Consortium to be effected by means of a scheme of arrangement under Part 26 of the Companies Act 2006

Confirmation No CVR Consideration Is Payable

Further to the expiry of the CVR Term on 9 March 2016, Fortune Oil hereby announces that the Trigger Condition for the CVR Consideration was not satisfied and accordingly no CVR Consideration is payable. The Trigger Condition was set out (or described) on pages 13, 20 and 42 of the Scheme Document (as defined below).

Unless otherwise defined, all capitalised terms in this announcement shall have the meaning given to them in the circular containing, among other things, an explanatory statement of the Scheme, the Scheme and notices of the Court Meeting and the General Meeting, posted by Fortune Oil to Fortune Oil Shareholders on 16 January 2015 (the "Scheme Document").

Enquiries:

Standard Chartered Bank: (Financial Adviser to Fortune Dynasty) David Harvey-Evers	Tel: + 44 (0)20 7885 8888
Fortune Oil: (Company Secretary of Fortune Oil) Sandi Choi	Tel: + 44 (0)20 7096 9580

Fortune Dynasty Financial Adviser

Standard Chartered Bank, who is (i) authorised in the United Kingdom by the Prudential Regulation Authority, and (ii) regulated in the United Kingdom by the Financial Conduct Authority and the Prudential Regulation Authority, is acting for Fortune Dynasty and for no one else in connection with the matters set out in this announcement and the Acquisition and will not be responsible to anyone other than Fortune Dynasty for providing the protections afforded to clients of Standard Chartered Bank nor for providing advice in relation to the Acquisition or any matters set out in this announcement. Neither Standard Chartered Bank nor any of its subsidiaries, branches or affiliates

owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Standard Chartered Bank in connection with this announcement, any statement contained herein or otherwise.

Important disclaimers (including in relation to securities law restrictions)

This announcement is not intended to, and does not, constitute or form part of any offer or invitation to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities or the solicitation of any vote or approval in any jurisdiction pursuant to the Acquisition or otherwise.

The release, publication or distribution of this announcement in jurisdictions other than the United Kingdom may be restricted by law and therefore any persons who are subject to the laws of any jurisdiction other than the United Kingdom should inform themselves about, and observe any applicable requirements. Any former Fortune Oil Shareholders who are in any doubt regarding such matters should consult an appropriate independent professional adviser in the relevant jurisdiction without delay. This announcement has been prepared for the purpose of complying with English law and the Takeover Code and the information disclosed may not be the same as that which would have been disclosed if this announcement had been prepared in accordance with the laws of jurisdictions outside the United Kingdom.

No person has been authorised to make any representations on behalf of Fortune Oil or Fortune Dynasty concerning the Scheme or the Acquisition which are inconsistent with the statements contained herein, and any such representations, if made, may not be relied upon as having been so authorised.

Copies of this announcement and any formal documentation relating to the Acquisition are not being, and must not be, directly or indirectly, mailed or otherwise forwarded, distributed or sent in or into or from any Restricted Jurisdiction and persons receiving such documents (including custodians, nominees and trustees) must not mail or otherwise forward, distribute or send them in or into or from any Restricted Jurisdiction.

Any failure to comply with the applicable restrictions may constitute a violation of the securities laws of any such jurisdiction and, to the fullest extent permitted by applicable law, Fortune Oil and Fortune Dynasty disclaim any responsibility or liability for the violation of such restrictions by any person.

No person should construe the contents of this announcement as legal, financial or tax advice and any interested person should consult its own advisers in connection with such matters.

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