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<body><div>RNS Number : 7472P</div> <div><org value="LSE:PXOG" idsrc="xmltag.org" >Prospex Oil and Gas PLC</org></div> <div><chron>22 November 2016</chron></div> <div>&#160;</div>
<div class="y">
<org value="LSE:PXOG" idsrc="xmltag.org" >Prospex Oil and Gas Plc</org> / Index: AIM / Epic: PXOG / Sector: <org value="ACORN:3716567533" idsrc="xmltag.org" >Oil and Gas</org>
<chron>22 November 2016</chron>
<org value="LSE:PXOG" idsrc="xmltag.org" >Prospex Oil and Gas Plc</org> ('Prospex' or the 'Company') 
Onshore Poland Well Update
&#160;
<org value="LSE:PXOG" idsrc="xmltag.org" >Prospex Oil and Gas Plc</org>, the AIM quoted investment company, is pleased to announce that further to the announcements of 19 October and <chron>9 November 2016</chron>, Prospex has been advised by the directors of <org>Hutton Poland Limited</org>, that well pad construction at the Boleslaw-1 well in the 1,150 sq km <person>Kolo Licence</person>, onshore <location value="LC/pl" idsrc="xmltag.org" >Poland</location> is proceeding according to schedule and drilling remains on track to commence in Q4 2016.
&#160;
A selection of new photographs of the site can be found on the Company's website: <a href="http://www.prospexoilandgas.com/gallery.html">http://www.prospexoilandgas.com/gallery.html</a>. &#160;
&#160;
* * ENDS * *
&#160;
For further information visit <a href="http://www.prospexoilandgas.com">www.prospexoilandgas.com</a> or contact the following:
&#160;
<table class="ay" cellspacing="0" cellpadding="0">
<tbody>
<tr class="ac">
<td class="af" valign="top">
<person>Edward Dawson</person>
</td>
<td class="ae" valign="top">
<org value="LSE:PXOG" idsrc="xmltag.org" >Prospex Oil and Gas Plc</org>
</td>
<td class="ad" valign="top">
Tel: +44 (0) 203 586 1009
</td>
</tr>
<tr class="ac">
<td class="af" valign="top">
<person>Katy Mitchell</person> 
<person>Nick Prowting</person> 
<person>Jay Ashfield</person>
</td>
<td class="ae" valign="top">
<org>WH Ireland Limited</org>
<org>WH Ireland Limited</org>
<org>WH Ireland Limited</org>
</td>
<td class="ad" valign="top">
Tel: 0113 394 6600 
 
Tel: +44 (0) 207 220 1658
</td>
</tr>
<tr class="ac">
<td class="af" valign="top">
<person>Jon Belliss</person>
</td>
<td class="ae" valign="top">
<org value="ACORN:3747843275" idsrc="xmltag.org" >Beaufort Securities Limited</org>
</td>
<td class="ad" valign="top">
Tel: +44 (0) 207 382 8300
</td>
</tr>
<tr class="ac">
<td class="af" valign="top">
<person>Lucy Williams</person>
<person>Charles Goodfellow</person>
<person>Eran Zucker</person>
</td>
<td class="ae" valign="top">
Peterhouse Corporate Finance 
Peterhouse Corporate Finance
Peterhouse Corporate Finance
</td>
<td class="ad" valign="top">
Tel: +44 (0) 207 469 0932
</td>
</tr>
<tr class="ac">
<td class="af" valign="top">
<person>Frank Buhagiar</person> 
<person>Charlotte Page</person>
</td>
<td class="ae" valign="top">
<org>St Brides Partners Ltd</org>
<org>St Brides Partners Ltd</org>
</td>
<td class="ad" valign="top">
Tel: +44 (0) 20 7236 1177&#160;&#160;&#160;&#160;&#160; 
</td>
</tr>
</tbody>
</table>
&#160;
&#160;
&#160;
</div>
<div style="text-align:center;"> This information is provided by RNS</div><div style="text-align:center;">The company news service from the <org>London Stock Exchange</org></div><div>&#160;</div> END<div>&#160;</div><div>&#160;</div>NRAQFLFLQFFLFBQ</body>
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Edward Dawson	Prospex Oil and Gas Plc	Tel: +44 (0) 203 586 1009
Katy Mitchell Nick Prowting Jay Ashfield	WH Ireland Limited WH Ireland Limited WH Ireland Limited	Tel: 0113 394 6600 Tel: +44 (0) 207 220 1658
Jon Belliss	Beaufort Securities Limited	Tel: +44 (0) 207 382 8300
Lucy Williams Charles Goodfellow Eran Zucker	Peterhouse Corporate Finance Peterhouse Corporate Finance Peterhouse Corporate Finance	Tel: +44 (0) 207 469 0932
Frank Buhagiar Charlotte Page	St Brides Partners Ltd St Brides Partners Ltd	Tel: +44 (0) 20 7236 1177