Volga Gas : Annual Report and Accounts and Notice of AGM

23 April 2014

VOLGA GAS PLC

Annual Report and Accounts and Notice of Annual General Meeting

Volga Gas plc (the "Company"), the oil and gas exploration and production group operating in the Volga Region of Russia,announces that its Annual Report and Accounts for the financial year ended 31 December 2013, including the Notice of Annual General Meeting ("AGM") has been posted to shareholders and is also available on the Company's website atwww.volgagas.com.

The Company also confirms that its Annual General Meeting is to be held at 10.00 a.m. BST on 6 June 2014 at the London office of Akin Gump Strauss Hauer & Feld, 8th floor, 10 Bishops Square, London E1 6EG.

Included in the business of the AGM are two special resolutions:

·      Subject to the confirmation of the High Court of Justice, that the share premium account of the Company be cancelled in its entirety and that a corresponding amount be transferred to the credit of the Company's profit and loss account ; and

·      To seek authority for the Company to make market purchases of shares under terms and limitations set out in the Notice of AGM

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