Hardy Oil and Gas : Director Changes and Notice to De-List

22 January 2020

Hardy Oil and Gas plc

(LSE: HDY)

Director Changes

Notice to De-List

Hardy Oil and Gas plc ('Hardy' or the 'Company'), a resource focused company announces the appointment of Michael Bretherton as Non-Executive Chairman and the resignation of Non-Executive Directors Alasdair Locke and Peter Milne.

Mandatory Offer Closing

On 21 January 2020, the Mandatory Offer from Blake Holdings Limited ('Blake'), which had become unconditional in all regards, closed and following which Blake has disclosed that it is has interest in approximately 86.16 per cent of the Company's issued share capital.

Board Changes

As announced on 8 January 2020, Alasdair Locke and Peter Milne stated their intention to resign from the Board following the appointment of Michael Bretherton (or any other Director proposed by Blake) to the Board. The Board has today appointed Michael Bretherton as a non-executive director and Alasdair Locke and Peter Milne have now resigned from the Board as planned.

Michael Bretherton has taken on the role as non-executive chairman of Hardy following Alasdair Locke's resignation. Michael is also a director of Blake and of ORA Limited and he is the chief executive officer of Sarossa Plc and is chairman of Adams Plc. In addition, Michael has been a director of seven other AIM quoted companies during the last ten years, including DeepMatter Group Plc, Nanoco Group Plc, Ceres Power Holdings Plc and Tissue Regenix Group Plc. He has a degree in Economics from Leeds University and is a member of the Institute of Chartered Accountants in England and Wales. His early career included working as an accountant and manager with PriceWaterhouse for seven years in London and the Middle East.

We would like to thank Alasdair and Peter for their contributions to the Hardy board over the last eight years and wish them well with their other business endeavours.

Richard Galvin remains as an executive director of the Company.

Notice to De-List

On 13 December 2019, Blake's offer document stated the intention to cancel the Standard Listing of Hardy's ordinary shares of US$0.01 each (the 'Hardy Shares') on the London Stock Exchange. Accordingly, the Company announces that it has today given notice to the FCA, to cancel the Standard Listing of the Hardy Shares, as required by the Listing Rules. It is anticipated that the de-listing will occur on or shortly after 8.00 a.m. on 24 February 2020.

For further information please visitwww.hardyoil.comor contact: