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Eland Oil and Gas Limited

Eland Oil & Gas - Crude Oil Sale Update

Eland (AIM: ELA), an oil & gas production, development and exploration company operating in West Africa with a principal focus on Nigeria, is pleased to announce that Elcrest Exploration and Production Nigeria Ltd ("Elcrest"), Eland's joint venture company, has completed the loading and sale of a further 31,500 bbls gross of crude for an average price of $94.93 per barrel. This will be the Group's final loading and sale for 2014, with settlement due prior to year end.

Acquisition of 40% interest in the Ubima Field, onshore Niger Delta

Eland (AIM: ELA), the oil and gas exploration and development company with a focus on Nigeria and West Africa, is pleased to announce that Wester Ord Oil & Gas Limited ("Wester Ord"), a wholly owned subsidiary of Eland, has agreed to acquire a 40 per cent. participating interest in the Ubima Field ("Ubima") from Allgrace Energy Limited (the "Farmor").

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