Interim Results for th e six months ended 30 June 2013 fast track data from the Upanga 3D survey undertaken in 2012 was received earlier this year and interpretation has confirmed

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2

A call with management will be held at 0830 BST following this announcement. Participants can dial in using the following details: Dial-in number: +44 (0) 1452 555566 Conference ID: 28394981 FOR FURTHER ENQUIRIES PLEASE CONTACT: Ophir Energy plc +44 (0)20 7290 5800 Nick Cooper, CEO Lisa Mitchell, CFO Richard Rose, Corporate Communications and Strategy Brunswick Group +44 (0)20 7404 5959 Patrick Handley Elizabeth Adams Notes to Editors Ophir Energy (OPHR.LN) is an African focussed, upstream oil and gas resource company which is a member of the FTSE 250. The Group’s headquarters are located in London (England), with operational offices in Perth (Australia), Malabo (Equatorial Guinea), Dar es Salaam and Mtwara (Tanzania), Port Gentil (Gabon) and Nairobi (Kenya). For further information on Ophir, please refer to www.ophir-energy.com

3

OPERATIONS REVIEW TANZANIA Blocks 1, 3 and 4 (40% non-operated interest) Exploration and appraisal activities have continued across the Ophir – BG Group Joint Venture acreage in the first half of the year with further drilling successes, resource upgrades and flow-tests that have underpinned the commerciality of the gas resource discovered to date. Ophir management estimates that by mid-year the Joint Venture had discovered 15 TCF (2,500mmboe) of 2C mean recoverable resources in Blocks 1, 3 and 4. The highlight in the first half of the year was the successful appraisal programme on the Jodari and Mzia discoveries in Block 1. A DST on the Jodari-1 well was also undertaken in the period and flowed at a tubing constrained flow rate of 70mmcfd, demonstrating excellent reservoir deliverability. The Mzia-2 appraisal well was drilled approximately 4km to the southeast of the original Mzia discovery well and encountered 62m of net pay in Cretaceous reservoirs, establishing pressure communication between the Mzia-1 and Mzia-2 gas columns. A DST on the well flowed at 57mmcfd (equipment constrained), which was at the upper end of the expected range. The result of the appraisal campaigns on these two fields has seen gross recoverable resources increase by 1.7 TCF to 8.6 TCF combined. Together with the previously discovered Chaza Field, the Block 1 “hub” area now has discovered 2C mean recoverable resource estimates in excess of 9TCF. The Ngisi-1 exploration well (Block 4) was drilled in June and encountered an excellent quality gas-bearing reservoir. Two planned side tracks, which demonstrated the ability to drill highly deviated wells in the area, were subsequently successfully completed. These wells also appraised the underlying Chewa discovery and confirmed resource estimates at the Chewa field. Gross recoverable resources across the Block 4 Chewa-Pweza-Ngisi hub now stand at 4.5 TCF. Good progress continues to be made on the mid-stream LNG project; the primary focus has been site selection and discussions with the Block 2 venturers on the potential for a jointly developed, multi-train LNG facility. Forward Programme Exploration and appraisal activities continue using the Deep Sea Metro I drillship with the Mkizi-1 exploration well in Block 1 being drilled after the period end which has proved up an additional 0.6 TCF of mean recoverable resource. The Deepsea Metro I drillship will then move to drill two appraisal wells, including a DST, on the Pweza discovery in Block 4. This will be the first DST on the series of Block 4 discoveries, following on from the successful tests in Block 1 on Mzia and Jodari. Discussions are ongoing with BG Group regarding the optimum programme beyond that, following receipt and ongoing interpretation of the final data from the outboard 3D seismic survey conducted in Block 1. This will allow the JV to fully assess the prospectivity of the outboard and terrace play systems. This, together with data from the inboard survey which was acquired early in 2013, will be used to finalise a drilling programme. Work on site selection is nearing completion for the LNG park. Discussions have been held with the Government and TPDC which is anticipated will lead to an announcement to TPDC of a preferred site during the second half of the year. This will then allow the process of site acquisition and early works leading to pre-FEED to commence.

4

East Pande (70% operated interest)

Final processed data from the Ndizi 3D survey was delivered in January. Interpretation has reaffirmed the company’s view of the prospectivity of the acreage with a new number of leads and prospects being added to the portfolio. The first planned drilling target is expected to be the 379 mmboe Tende prospect in the southern area of the Block. Ophir believes that the Block is primarily prospective for gas but does have the potential for oil, particularly in the south. Forward Programme As operator, Ophir anticipates drilling East Pande in Q1 2014 as part of the programme utilising the Deep Sea Metro I drillship. Block 7 (80% operated interest) The fast track data from the Upanga 3D survey undertaken in 2012 was received earlier this year and interpretation has confirmed Mlinzi as a complex of drillable prospects with an aggregate recoverable resource potential in excess of 20 TCF. The 2010 3D survey in the west of the Block, which was acquired by Dominion Petroleum, has been reprocessed and has confirmed the presence of the Ngao prospect with resource potential in excess of 5 TCF. Forward Programme A final well location has been selected and drilling is expected to begin in late Q4 2013. The Government of Tanzania has established a Government Negotiating Team to engage with Ophir on gas terms for the block, with first discussions taking place towards the end of the first half of the year. KENYA Blocks L9 and L15 (90% operated interest) Block L9 contains a number of features in the outboard section of the acreage which Ophir believes is on trend with the Mbawa discovery drilled by Apache in 2012 in Block L8 directly to the North. The Nala survey, which was acquired in late 2012, was shot to evaluate the potential of three play systems; the southern extent of the Mbawa Inversion zone, the Mbawa West, en-echelon anticline play and the Simba Graben onlap play. The data is currently being interpreted. On Block L15, the Ndoto 3D survey was also shot in H2 2012 and interpretation is focussing on two key plays - the Western edge of the Lamu toe thrust and fault blocks of the Davy Walu High. Forward Programme Ophir intends to drill on Block L9 in H2 2014.1 Activity in and around Kenya offshore is increasing, with Anadarko currently drilling the second well, Kiboko, in a two well campaign. Kiboko is located in Block L11B to the South East of L9. EQUATORIAL GUINEA Block R (80% operated interest) Evaluation of the well data from the 2012 drilling campaign is ongoing. A Competent Persons Report was completed that confirmed that mean 2C gross recoverable resources stand at 2.3 TCF on the block. There is in addition further low-risk upside gas potential, and a higher risk liquids play on the acreage. Ophir entered the

1 The Group currently has a 90% participating interest with the Government of Kenya having a 10% carried interest. In Block L9, Ophir is currently in advanced negotiations to offer up to 40% of its interest in the PSC to third parties

5

second exploration period in April 2013. The period runs for 12 months although Ophir has requested an extension to the period until December 2014. The company continues to progress routes to commercialise its gas resources with three options being considered:

1. utilisation of a Floating LNG (FLNG) scheme; or 2. a dedicated new train at the existing Punta Europa LNG facilities; or 3. backfilling the existing train in operation at Punta Europa as production from the Marathon operated

Alba field declines Feasibility of all options continues to be assessed. A full project evaluation of a Floating LNG scheme is being developed in coordination with the Government of Equatorial Guinea. Forward Programme Further exploration and appraisal drilling is planned on Block R in 2014. Ophir continues to seek to introduce suitable partners pre-drilling while commercialisation plans are moving towards a preferred option supported by Government. GABON Mbeli/Ntsina (50% operated interest) Processing of the 3D seismic survey which was shot over the pre-salt play in the Mbeli and Ntisna Blocks was completed in the first half of the year. These were specifically designed to image the pre-salt play system and the data has confirmed the prospectivity of the play in-line with previous evaluations. Forward programme The company continues to investigate options for a suitable Rig for its West coast operated programme with the view to drilling two pre-salt wells commencing early in 2014. Consideration is also being given to a further outboard 3D survey to chase a post-salt play analogous to the Barra discovery which was made by Petrobras in Brazil. Manga/Gnondo (100% operated interest) Two types of play are being targeted on these blocks; the Ogooué Delta play and the outboard post-salt play. The Affanga Deep prospect (Gnondo) in the Ogooué delta play is now drill-ready and adjacent prospects are being mapped as follow-up candidates. The outboard play, which is analogous to the Barra discovery made by Petrobras in Brazil, was initially investigated by the Afo 3D survey which was acquired in Manga/Ntsina. The survey has provided further support for the play in the North Gabon basin but was not, however, large enough to fully understand the play system. Further seismic data is therefore required. Interpretation of the Pachg Liba 3D survey (Gnondo) is also nearing completion and the prospect will also be matured as a potential future drilling candidate. Forward Programme Ophir plans to drill the Affanga Deep prospect as part of a three-well Gabon programme in H1 2014. Consideration is also being given to a further outboard 3D survey to chase a post-salt play analogous to the Barra discovery which was made by Petrobras in Brazil. AGC Profond Block (79.2% operated interest) A 1,000sq km 3D survey was shot across the Profond Block in the first half of the year and fast-track data is now being interpreted. Ophir have proposed a 12 month extension to the PSC term to the AGC authorities and this is

6

currently being considered. The extension will allow Ophir time to complete the seismic interpretation, mature risk-covered prospects and complete a farm-out. CONGO (BRAZZAVILLE) Marine IX Block (48.46% operated interest) In June Ophir officially notified the Government of its decision not to enter the second term of the PSC and are in the process of formally exiting from Congo. GHANA Offshore Accra Contract Area (20% operated interest) In July the company completed drilling the Starfish exploration well, located within the frontier Keta basin offshore Ghana. Although the well encountered an interval of approximately 230m of sandstone in the primary target, this was found to be water wet. The data from this well will now be incorporated into further analysis of the remaining prospectivity of the acreage, particularly the potential outboard of the Starfish location. Earlier this month the Ministry of Energy and Petroleum in Ghana granted a six month extension to the Initial Exploration Period which now ends on 23 March 2014.

7

FINANCE REVIEW RESULT FOR THE PERIOD During the first six months of 2013 the Group strengthened the balance sheet with the successful placing and rights issue that took place in March. The placing of 19.85 million shares raised £91.3 million (US$137.0 million) and a 2 for 5 share rights issue raised a further £462.1 million (US$700.6 million). The funds will go towards financing an expanded 2013/2014 drilling programme consisting of:

The BG Group operated Blocks 1,3 and 4 joint venture East Pande (Tanzania) Block 7 (Tanzania) Block L9 (Kenya) Pre-salt and Post-salt (Gabon)

For the period ended 30 June 2013 the Group recorded a loss of US$19.4 million (30 June 2012: US$24.4 million / year ended 31 December 2012: US$40.7 million). No dividends were paid or declared by the Group during the period. The loss is a direct result of exploration expenditure, regulatory and corporate costs associated with operating the Ophir Energy group and its assets. The loss for the period, includes exploration expenditure expensed of US$3.8 million (30 June 2012: US$2.1 million), general and administrative costs of US$15.7 million (30 June 2012: US$21.8 million), finance costs of US$0.2 million (30 June 2012: US$0.4 million) and other expenses of US$0.5 million (30 June 2012: US$0.9 million). Cash balances as at 30 June 2013 were US$485.6 million (30 June 2012: US$454.1 million / year ended 31 December 2012: US$227.7 million) with an additional US$353.5 million (30 June 2012 / year ended 31 December 2012: nil) held in current investments. Exploration Expenditure Exploration expenditure comprises of pre-licence exploration costs of US$0.3 million (30 June 2012: US$2.1 million) for new business development, an inventory write off of $0.4 million and a $3.1 million (30 June 2012: nil) exploration write off following the formal exit from Marine IX Block in Congo charged directly to the Income Statement. Administrative Expenses Administrative expenses totalled US$15.7 million (30 June 2012: US$21.8 million). These consist of ongoing salaries and wages, professional and corporate, office and IT costs. The reduction in administrative expenses is due to the Group incurring various one off fees from the Dominion acquisition in the prior half year period. Finance Expenses Finance costs for the period of US$0.2 million (30 June 2012: US$0.4 million) relate to foreign exchange losses which arose following the fluctuation of the presentational currency, the US Dollar, against other currencies the Group utilises. Other Expenses Other expenses of US$0.5 million (30 June 2012: US$0.9 million) mainly consisted of depreciation and amortisation and relate to the write down of the Group’s furniture and equipment and geological databases over their estimated useful lives.

8

CASH FLOW The Groups net cash inflow for the period was US$255.8 million (30 June 2012: US$57.8 million cash inflow). Operating Cash Flow The Groups net cash used in operating activities was US$21.2 million (30 June 2012: US$19.0 million). The Group had $3.8 million (30 June 2012: US$2.1 million) related to exploration expenditure and inventory that was written off. Investing Activities Cash flow used in investing activities was US$526.0 million (30 June 2012: US$162.4 million). Exploration expenditure of US$168.9 million (30 June 2012: US$138.8 million) related to amounts spent on the drilling activities in Blocks 1,3 and 4 in Tanzania and on drilling of the Starfish-1 well in Ghana. The Group also placed US$353.5 million (30 June 2012: nil) raised from the successful Placing and Rights issue that took place in March in deposit accounts with maturities of between 3 and 12 months. Financing Activities The net cash inflow for financing activities was US$803.1 million (30 June 2012: US$239.1 million cash outflow) which was a result of the capital equity raising proceeds of $837.6 million less associated costs of $34.5 million. As at 30 June 2013, the Group’s cash and cash equivalents were US$485.6 million (30 June 2012: US$454.1 million). NON-CURRENT ASSETS As at 30 June 2013, intangible assets consisted of exploration and evaluation assets totalling US$1,119.8 million (30 June 2012: US$695.0 million) and goodwill of US$57.2 million (30 June 2012: US$57.4 million). Additions in the period to 30 June 2013 of US$161.2 million (30 June 2012: US$148.7 million) to the Group’s existing exploration and evaluation assets result from the ongoing exploration activity primarily in Ghana and Tanzania. CURRENT ASSETS The Group’s current assets increased to US$869.5 million (30 June 2012: US$482.9 million) as a result of the increase in cash and cash equivalents and investments following the March 2013 Placing and Rights issue. LIABILITIES Total liabilities as at 30 June 2013 were US$162.2 million (30 June 2012: US$139.4 million / year ended 31 December 2012: US$177.5 million). This mainly consists of a deferred tax liability of US$57.0 million (30 June 2012: $57.2 million) relating to the Dominion acquisition and US$98.2 million (30 June 2012 $70.8 million) of expenditure accrued or recognised as due to be paid on recent drilling activities in Ghana and Tanzania. COMMITMENTS AND CONTINGENT LIABILITIES In acquiring its oil and gas interests, the Group has pledged that various work programmes will be undertaken on each permit/interest. The exploration commitments are tabulated in note 14 to the Interim Financial Statements and are an estimate of the minimum expected cost of performing these work programmes. As at 30 June 2013 the Group had no contingent liabilities.

9

RISK MANAGEMENT The Executive Directors continually monitor the Group’s risk exposures and report to the Audit Committee and Board of Directors on a six monthly basis or more frequently as required. The principal risks of the Group remain as detailed on pages 38 to 39 of the 2012 Annual Report and Accounts: Strategic Risks: Political risk, inadequate resource and reliance on key personnel, investment

decisions. Operational Risks: Drilling operations risk, HSE Incident risk, Discovery risk and success risk, IT risks,

Availability of rigs and services. Financial Risks: Inability to fund exploration work programmes, Counterparty credit risk, Cost and

capital spending, Interest Rate and foreign exchange risk. External Risks: Sovereign and country risk, Legal, regulatory or litigation risk, Investor and

stakeholder sentiment. FUNDING OF ACTIVITIES Our funding strategy continues to be to actively manage our exploration activities using existing funds from the successful Placing and Rights Issue in March 2013, and to also continue to utilise effective portfolio management by way of farm downs. The financial position of the Group, its cash flows, liquidity position and borrowing facilities, and its business activities, together with the factors likely to affect its future development, performance and position are set out in this Business and Operations Review and in the Group’s 2012 Annual Report and Accounts on pages 6 to 39. The Financial statements have been prepared on a going concern basis. In making this assessment the Directors have considered Group budgets and cashflow statements for at least the next 12 months and the Directors are of the opinion that the Company will have sufficient funds to meet its obligations and capital commitments for expenditure over the next 12 months. OUTLOOK Ophir has had a successful 6 months with the completion of the first drill stem test at Jodari 1 confirming excellent reservoir deliverability. This was followed by a further successful DST at Mzia-2 (Block 1) Tanzania. The contract for the Deepsea Metro I drillship was extended for 18 months for the continuation of the 2013-2014 East African offshore drilling programme across both the BG joint venture and Ophir’s operated acreage. Ophir is well placed to proceed with drilling across its high impact operated acreage with both gas and liquid targets during the next 12 months.

10

RESPONSIBILITY STATEMENT The Directors confirm that to the best of their knowledge: a the condensed set of financial statements has been prepared in accordance with IAS 34 “Interim Financial

Reporting”; b the half year report includes a fair review of the information required by DTR 4.2.7R (indication of important events

during the first six months and description of principal risks and uncertainties for the remaining six months of the year);

c the half year report includes a fair review of the information required by DTR 4.2.8R (disclosure of related parties’

transactions and changes therein); The Directors of Ophir Energy plc are as listed in the Company Information section at the back of this report. By order of the Board Nicholas Smith Chairman 14 August 2013

11

INDEPENDENT REVIEW REPORT TO OPHIR ENERGY PLC Introduction We have been engaged by the Company to review the condensed set of financial statements in the half-yearly financial report for the six months ended 30 June 2013 which comprises the condensed consolidated income statement and statement of comprehensive income, the condensed consolidated statement of financial position, the condensed consolidated statement of changes in equity, the condensed consolidated statement of cash flows and related notes 1 to 16. We have read the other information contained in the half yearly financial report and considered whether it contains any apparent misstatements or material inconsistencies with the information in the condensed set of financial statements. This report is made solely to the company in accordance with guidance contained in International Standard on Review Engagements 2410 (UK and Ireland) "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Auditing Practices Board. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company, for our work, for this report, or for the conclusions we have formed. Directors' Responsibilities The half-yearly financial report is the responsibility of, and has been approved by, the directors. The directors are responsible for preparing the half-yearly financial report in accordance with the Disclosure and Transparency Rules of the United Kingdom's Financial Conduct Authority. As disclosed in note 2, the annual financial statements of the group are prepared in accordance with IFRSs as adopted by the European Union. The condensed set of financial statements included in this half-yearly financial report has been prepared in accordance with International Accounting Standard 34, "Interim Financial Reporting", as adopted by the European Union. Our Responsibility Our responsibility is to express to the Company a conclusion on the condensed set of financial statements in the half-yearly financial report based on our review. Scope of Review We conducted our review in accordance with International Standard on Review Engagements (UK and Ireland) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Auditing Practices Board for use in the United Kingdom. A review of interim financial information consists of making enquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing (UK and Ireland) and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. Conclusion Based on our review, nothing has come to our attention that causes us to believe that the condensed set of financial statements in the half-yearly financial report for the six months ended 30 June 2013 is not prepared, in all material respects, in accordance with International Accounting Standard 34 as adopted by the European Union and the Disclosure and Transparency Rules of the United Kingdom's Financial Conduct Authority. Ernst & Young LLP London 14 August 2013 The maintenance and integrity of the Ophir Energy plc web site is the responsibility of the Directors; the work carried out by the auditors does not involve consideration of these matters and, accordingly, the auditors accept no responsibility for any changes that may have occurred to the financial information since it was initially presented on the web site. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

CONDEN

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12,811

9,500

227,743

-

250,054

-

1,281,972

(119,416)

(833)

(120,249)

(56,996)

(277)

(57,273)

(177,522)

1,104,450

1,739

1,102,957

1,104,696

(246)

1,104,450

CONDEN

SIX MON

As at

Loss f

Othertax

Total tax

Exerc

New opartie

Share

Acqui

As at

Loss f

Othertax

Total tax

Exerc

Share

Share

As at

Loss f

Othertax

Total tax

New opartie

Exerc

Share

As at

(1) Ref

NSED CONSO

NTHS ENDED

1 January 201

for the period, n

r comprehensive

comprehensive

cise of options

ordinary sharess

e-based payme

sition of subsid

30 June 2012

for the period, n

r comprehensive

comprehensive

cise of options

e issue costs

e-based payme

1 January 201

for the period, n

r comprehensive

comprehensive

ordinary sharess

cise of options

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30 June 2013

fer to Note 13

OLIDATED ST

D 30 JUNE 2

12

net of tax

e income net of

e income, net of

s issued to third

nt

diary

(Unaudited)

net of tax

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e income, net of

nts

13

net of tax

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e income, net of

s issued to third

nts

(Unaudited)

TATEMENT O

2013

CALL

SHARE CA

f

f

of

f

of

f

OF CHANGES

LED UP

APITAL $’000

1,448

-

-

-

9

276

-

-

1,733

-

-

-

6

-

-

1,739

-

-

-

711

3

-

2,453

S IN EQUITY

OTHER(1)

RESERVES $’000

711,612

(24,384)

(69)

(24,453)

4,673

415,722

4,053

-

1,111,607

(16,225)

41

(16,184)

3,807

62

3,665

1,102,957

(19,348)

(1,122)

(20,470)

802,383

1,630

5,322

1,891,822

NCONTROLL

INTER

$’

(1

(1

(2

(2

NON-LING

REST ’000

TOTAL E

- 7

(40) (2

-

(40) (2

-

- 4

-

140)

180) 1,1

(66) (1

-

(66) (1

-

-

-

246) 1,1

(26) (1

- (

(26) (2

- 8

-

-

272) 1,89

14

EQUITY $’000

13,060

24,424)

(69)

24,493)

4,682

15,998

4,053

(140)

13,160

6,291)

41

6,250)

3,813

62

3,665

04,450

9,374)

(1,122)

20,496)

03,094

1,633

5,322

94,003

O

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(I

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Adjustments toash flows nterest income

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Net cash flows

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NSED CONSO

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posal of assets

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deposit

ubsidiary

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OLIDATED ST

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s before tax to

and equipment

ments

for sale

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nd other payable

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ating activities

equipment

s

ry

f subsidiary

ting activities

TATEMENT O

2013

NOTE

o net

3e

3d

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3b

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ables

OF CASH FLO

ES

6 MON

30 J(U

e

d

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b

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OWS

NTHS ENDED JUNE 2013

UNAUDITED) $’000

(19,374)

(810)

507

-

55

5,322

13

-

3,393

386

(11,401)

(2,693)

3,140

(21,462)

-

219

(21,243)

(714)

(168,918)

-

(2,948)

(353,467)

-

-

(526,047)

6 MONT

30 JUN

(UNA

(

(

THS ENDED NE 2012

AUDITED) $’000

(24,424)

(777)

478

-

41

4,053

41

351

2,117

-

5,478

(6,611)

(889)

(20,142)

-

1,139

(19,003)

(783)

(138,798)

-

-

-

(38,682)

15,908

(162,355)

15

YEAR END

30 DECEMBER2012$’0

(40,94

(1,00

1,0

(9

7,7

6

4,5

5,1

1,4

(9,92

(31,47

1,5

(29,90

(1,01

(359,43

8,7

(6,19

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15,9

(380,69

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37

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36

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Effect of exchanquivalents

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NSED CONSO

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$’000

(34,463)

837,565

803,102

255,812

2,048

227,743

485,603

NUED)

6 MONTHS E

30 JUN

(UNAU

(

24

2

3

4

ENDED

NE 2012 UDITED)

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(7,434)

246,574

239,140

57,782

(225)

396,585

454,142

16

YEAR ENDE

30 DECEMBE

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(7,37

250,38

243,01

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396,58

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85

13

84)

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85

43

NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS SIX MONTHS ENDED 30 JUNE 2013

17

1 General information Ophir Energy plc (the “Company” and the ultimate parent of the Group) is a public limited company incorporated,

domiciled and listed in England and Wales. Its registered offices are located at 50 New Bond Street, London W1S 1BJ. Ophir Energy’s business is the development of offshore and deepwater oil and gas exploration assets. The Company has an extensive and diverse portfolio of exploration interests across East and West Africa.

The Income Statement and Statement of Comprehensive Income, Statement of Changes in Equity, Statement of

Financial Position, Statement of Cash Flows and associated Notes to the Financial Statements for the financial year ended 31 December 2012 included in the 30 June 2013 half yearly financial report do not constitute the Group’s statutory accounts, as defined under section 434 of the Companies Act 2006. The Group’s statutory financial statements for the financial year ended 31 December 2012 have been audited by the Group’s external auditor and lodged with the United Kingdom Companies House. The auditor’s opinion on these accounts was unqualified and did not contain a statement under either Section 498(2) or 498(3) of the Companies Act 2006.

The condensed consolidated interim financial statements are unaudited but have been formally reviewed by the auditors and their report to the company is included on page 11. These condensed interim financial statements of the Group for the six months ended 30 June 2013 were approved and authorised for issue by the Board of the Directors on 14 August 2013.

2 Accounting policies 2.1 Basis of preparation These condensed consolidated interim financial statements for the six months ended 30 June 2013 have been prepared in

accordance with IAS 34 Interim Financial Reporting. The condensed consolidated interim financial statements are presented in US Dollars rounded to the nearest thousand dollars ($’000) except as otherwise indicated. The half yearly financial report does not include all notes of the type normally included within the annual financial report and therefore cannot be expected to provide as full an understanding of the financial performance, financial position and financing and investing activities of the consolidated entity as the full financial report. The half yearly financial information should be read in conjunction with the Group’s annual financial statements for the year ended 31 December 2012. 2.2 Changes in accounting policy and disclosures The accounting policies and methods of computation adopted in the preparation of the condensed consolidated interim financial statements are consistent with those followed in the preparation of the Group’s annual financial statements for the year ended 31 December 2012, except for the new accounting standards and interpretations effective as of 1 January 2013.

2.3 Accounting standards and interpretations The Group has adopted the following new and amended IFRS and IFRIC interpretations as of 1 January 2013 for the

historical information presented for the six months ended 30 June 2013: IAS 1 Presentation of Items of Other Comprehensive Income (Amendment)

IAS 19 Employee Benefits (Amendment) IAS 27 Separate Financial Statements (as revised in 2011) IAS 28 Investments in Associates and Joint Ventures (as revised in 2011) IFRS 7 Disclosures — Offsetting Financial Assets and Financial Liabilities (Amendment) IFRS 13 Fair Value Measurement

The new and amended standards and interpretations had no material impact on the financial information for the six months ended 30 June 2013.

NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS

18

6 MONTHS ENDED 30 JUNE 2013

(UNAUDITED) $’000

6 MONTHS ENDED 30 JUNE 2012

(UNAUDITED) $’000

YEAR ENDED 30 DECEMBER

2012 $’000

3 Operating loss before taxation The Group operating loss from continuing operations before taxation is stated after charging/(crediting):

(a) Revenue

- Interest income 810 777 1,009

- Other income 12 - 12 822 777 1,021

(b) Exploration expenses

- pre licence exploration costs 277 2,117 4,521

- Inventory write down 386 - -

- exploration expenditure written off 3,116 - -

3,779 2,117 4,521

(c) Finance (income)/expense

- Net foreign currency exchange losses/(gains)

174

395

(627)

174 395 (627)

(d) General & administration expenses include:

- Operating lease payments – minimum lease payments 1,273 936

2,332

- Share-based compensation charge 5,322 4,053 7,718

6,595 4,989 10,050

(e) Other expenses

- loss on disposal of assets 13 41 635

- Impairment loss on asset held for sale - 351 -

- Depreciation of property plant & equipment 507 478 1,041

520 870 1,676

4 Segment information The Group operates in one segment being the exploration and evaluation of oil & gas related projects located in Africa.


19

AS AT 30 JUNE 2013

(UNAUDITED) $’000

AS AT 30 JUNE 2012

(UNAUDITED) $’000


2012 $’000

5 Exploration and evaluation assets Cost at the beginning of the period 961,713 327,060 327,060 Additions 161,198 148,770 415,484 Acquisition of subsidiary(1) - 228,000 228,000 Transfers to assets held for sale(2) - (8,812) - Expenditure written-off(3) (3,116) - - Disposals(4) - - (8,831) Balance at the end of the period 1,119,795 695,018 961,713

(1) The amount of US$228 million was recognised on the acquisition of Dominion Petroleum Limited in February 2012.

(2) Following the Dominion acquisition in February 2012 and subsequent decision to divest its non-core assets, Ophir Group disposed of its 46.75% interest in Block V in the Albertine Graben in the Democratic Republic of Congo. (3) The amount written off follows the formal exit from Marine IX Block in Congo. (4) Disposal transfer of net book value of 46.75% interest in Block V in the Albertine Graben in the Democratic Republic of Congo following asset sale on 20 July 2012.

AS AT 30 JUNE 2013

(UNAUDITED) $’000

AS AT 30 JUNE 2012

(UNAUDITED) $’000


2012 $’000

6 Goodwill Cost at the beginning of the period 57,165 - - Acquisition of subsidiary(1) - 57,389 57,389 Disposal(2) - - (224) Balance at the end of the period 57,165 57,389 57,165

(1) Additions to goodwill represent an amount recognised on the acquisition of Dominion Petroleum Limited in February 2012. (2) Unwinding of goodwill on disposal of interest in Block V in the Albertine Graben in the Democratic Republic of Congo.

The goodwill balance is largely the result of recognising a deferred tax liability on the fair value uplifts of assets following the Dominion Petroleum Limited acquisition in February 2012.

AS AT 30 JUNE 2013

(UNAUDITED) $’000

AS AT 30 JUNE 2012

(UNAUDITED) $’000


2012 $’000

7 Inventory

Drilling consumables 15,372 13,141 12,811


20

AS AT 30 JUNE 2013

(UNAUDITED) $’000

AS AT 30 JUNE 2012

(UNAUDITED) $’000


2012 $’000

8 Trade and other receivables Trade and other debtors 13,266 13,860 8,726 Transfer to assets held for sale - (260) - Prepayments 1,773 1,988 774 15,039 15,588 9,500 All debtors are current. There are no receivables that are past due or impaired. Trade and other debtors primarily relate to

receivables from joint venture partners.

Due to the short-term nature of these receivables, their carrying value is assumed to approximate their fair value.

AS AT 30 JUNE 2013

(UNAUDITED) $’000

AS AT 30 JUNE 2012

(UNAUDITED) $’000


2012 $’000

9

Cash and cash equivalents

Cash 485,603 349,139 227,743 Short term deposits - 105,003 - 485,603 454,142 227,743

Cash at banks earn interest at floating rates based on daily bank deposit rates. Short-term deposits are made for varying

periods of between one day and three months depending on the immediate cash requirements of the Group and earn interest at the respective short term deposit rates. The fair value of cash and cash equivalents is $485.6 million (30 June 2012: $454.1 million and 31 December 2012: $227.7 million).

AS AT 30 JUNE 2013

(UNAUDITED) $’000

AS AT 30 JUNE 2012

(UNAUDITED) $’000


2012 $’000

10 Investments Short term investments 353,467 - - 353,467 - -

Short-term investments consists of cash deposits that are made for varying periods of between three months and twelve months depending on the immediate cash requirements of the Group and earn interest at the respective short term investment rates. The fair value of short term investments is $353.5 million (30 June 2012: nil and 31 December 2012: nil).


21

AS AT 30 JUNE 2013

(UNAUDITED) $’000

AS AT 30 JUNE 2012

(UNAUDITED) $’000


2012 $’000

11

Trade and other payables

Trade payables 6,714 10,111 17,648 Accruals 28,459 24,763 27,324 Payables in relation to joint venture partners 68,899 46,064 74,444 104,072 80,938 119,416 Trade payables are unsecured and are usually paid within 30 days of recognition.

AS AT 30 JUNE 2013

(UNAUDITED) $’000

AS AT 30 JUNE 2012

(UNAUDITED) $’000


2012 $’000

12 Share capital

(a) Authorised

2,000,000,000 ordinary shares of 0.25p each 7,963 7,963 7,963

(b) Called up, allotted and fully paid

400,004,189 ordinary shares in issue at the beginning of the period of 0.25p each (30 June/31 December 2012: 327,123,901) 1,739 1,448

1,448 718,461 ordinary shares issued of 0.25p each on exercise of options and warrants during the period (30 June 2012: 2,142,173 /31 December 2012: 3,589,833) 3 9

15 187,875,675(1) ordinary shares issued 0.25p each during the period (30 June/31 December 2012: 69,290,455) 711 276

276 588,598,325 ordinary shares of 0.25p each (30 June 2012: 398,556,529 /31 December 2012: 400,004,189) 2,453 1,733

1,739

(1) 19,850,000 ordinary shares in relation to the placement announced by the Company on 4 March 2013

and subsequently issued on 5 March 2013. 168,025,675 ordinary shares in relation to the 2 for 5 rights issue announced by the Company on 4

March 2013 and subsequently issued on 26 March 2013.

The balances classified as called up; allotted and fully paid share capital represent the nominal value of the total number of issued shares of the company of 0.25p each. Fully paid shares carry one vote per share and carry the right to dividends.


22

SHARE (1) PREMIUM $’000

OPTIONS (2)

PREMIUM

RESERVE $’000

SPECIAL(3)

RESERVE $’000

CONS (4)

RESERVE $’000

MERGER(5)

RESERVE $’000

EQUITY (6)

COMPONENT

ON

CONVERTIBLE

BOND $’000

FOREIGN (7)

CURRENCY

TRANSLATION

RESERVE $’000

ACCUMULATED

LOSSES $’000

TOTAL OTHER

RESERVES $’000

13 Other Reserves

As at 1 January 2012 789,714 26,526 156,435 (500)

- 669

5,880 (267,112) 711,612

Loss for the period, net of tax - - - - - - - (24,384) (24,384)

Other comprehensive income net of tax - - - - - - (69) - (69)

New ordinary shares issued to third parties - - - - 415,722 - - - 415,722

Exercise of options 4,673 - - - - - - - 4,673

Share-based payment - 4,053 - - - - - - 4,053

As at 30 June 2012 (Unaudited) 794,387 30,579 156,435 (500)

415,722 669

5,811 (291,496) 1,111,607


Other comprehensive income net of tax - - - - - - 41 - 41


Share issue costs 62 - - - - - - - 62

Share-based payments - 3,665 - - - - - - 3,665

As at 1 January 2013 798,256 34,244 156,435 (500) 415,722 669 5,852 (307,721) 1,102,957


Other comprehensive income, net of tax - - - -

- - (1,122) - (1,122)


23

New ordinary shares issued to third parties - - - -

802,383 - - - 802,383


Share-based payments - 5,322 - - - - - - 5,322

Transfers within reserves - - (156,435) - - - - 156,435 -

As at 30 June 2013 (Unaudited) 799,886 39,566 - (500)

1,218,105 669 4,730 (170,634) 1,891,822

1) The share premium account represents the total net proceeds on issue of the Company's shares in excess of their nominal value of 0.25p per share less amounts transferred to any other reserves.

2) The option premium reserve represents the cost of share-based payments to Directors, employees and third parties. 3) The special reserve was created on reduction of the Company’s share capital on 26 July 2007. Following the Company’s subsequent recording of increase in paid up

share capital the special reserve has been realised and transferred to accumulated losses. 4) The consolidation reserve represents a premium on acquisition of a minority interest in a controlled entity. 5) In the current year the provisions of the Companies Act 2006 relating to Merger Relief (s612 and s613) were applied to the March share placement and rights issue

raising through a cash box structure. This resulted in the creation of a merger reserve, after deducting share issue costs of $34.5 million. The “cash box” method of affecting an issue of shares for cash is commonplace and enabled the Company to issue shares without giving rise to a share premium. In addition management have reclassified the share premium arising from the April 2012 share placement and the February 2012 Dominion Petroleum Limited to the merger reserve. The April 2012 share placement was structured as a “cash box” transaction and is subject to the provision of the Companies Act 2006 relating to merger relief resulting in the creation of a merger reserve after deducting share issue costs of $7.4 million. The Dominion Petroleum Limited acquisition is also subject to merger relief by virtue of Ophir acquiring in excess of 90% of all classes of the acquiree’s issued share capital in consideration for Ophir share capital.

6) This balance represents the equity component of the convertible bond, net of costs and tax as a result of the separation of the instrument into its debt and equity components. The bond was converted into 21,661,476 ordinary shares of 0.25p each on 21 May 2008.

7) The foreign currency translation reserve is used to record unrealised exchange differences arising from the translation of the financial statements of entities within the Group that have a functional currency other than US Dollars.


24

AS AT 30 JUNE 2013

(UNAUDITED) $’000

AS AT 30 JUNE 2012

(UNAUDITED) $’000


2012 $’000

14 Exploration expenditure commitments

In acquiring its oil and gas interests, the Group has pledged that various work programmes will be undertaken on each permit/interest. The exploration commitments are an estimate of the cost of performing these work programmes and includes any commitments under rig share agreements.

Due within one (1) year 256,630 156,744 184,488 Due later than one (1) year but within two (2) years 174,117 8,114 33,951 Due later than two (2) years but within five (5) years - 10,200 -

430,747 175,058

218,439 15 Related party transactions The company made payments of $9,318 (30 June 2012: nil) to Vectis Petroleum Limited, a Company associated with Mr John Lander, for the provision of his service as a Non-Executive Director. 16 Events after the reporting period On 10 July 2013 the Company announced completion of drilling activities on the Starfish-1 well in the Offshore Accra area in Ghana. The Company holds a 20% participating interest in the licence and is operator. Although the drilling of the well was not successful the results will provide valuable geological information which will enable further analysis of the prospectivity of the licence area.

COMPA

Registere First Floor50 New BLondon WTelephone Website: w

RegistrarThe Compusing the

Capita ReThe Regis34 BeckenBeckenhaTelephoneInternationWebsite: w*Lines are10p per m

Auditors:Ernst & YoOne MoreLondon SUnited Kin

Bankers: HSBC Ba70 Pall MaLondon SWUnited Kin HSBC Ba188-190 SPerth WA Australia

Directors Chairman Nicholas S Executive Nick CoopLisa Mitch(appointedDennis Mc(appointed Company Jacqueline

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26

Documents

Interim Results for th e six months ended 30 June 2013 fast track data from the Upanga 3D survey undertaken in 2012 was received earlier this year and interpretation has confirmed