Sequa Petroleum N.V. Gina Krog Transaction Update

PR64158

LONDON, Apr. 19, 2016 / PRNewswire=KYODO JBN / --

     Sequa Petroleum N.V. (the "Company") announces that it has decided not to

progress with the acquisition of a 15% interest in Gina Krog, as announced on

19 October 2015 and subsequently approved by the Norwegian government on the

basis of an effective date of 1 January 2015, and the acquisition of a 0.554%

interest in the Ivar Aasen field from OMV, as announced on 9 November 2015, due

to current market conditions.

    Further to the Notice to Bondholders on 11 April 2016 regarding the

Company's U.S. $300,000,000 5 percent convertible bonds due 2020 (the Bonds),

the Company has decided not to implement the consent received, which leaves the

Bond terms unchanged and trading in the Bonds will be unblocked before close of

trading on today's date.

    The Company continues to pursue its strategy to create value in a cyclical

market environment by means of acquisition, optimisation and monetisation of

assets with proven resources, current and near term production, and value

upsides, applying its technical and financial expertise to establish a balanced

asset portfolio in select areas with low marginal cost, growth potential and

synergies.

    About the Company

    The Company is an oil and gas company registered in the Netherlands, with

its principal office in London and listed on Euronext Marche Libre. In 2014,

the Company established an operating presence in Kazakhstan, acquiring 75% of

the Aksai licence which has subsequently been drilled and is currently being

evaluated. In 2015, the Company established a presence in Norway, acquiring

Tellus Petroleum Invest AS as a 100% subsidiary.

     For more information please visit http://www.sequa-petroleum.com or

contact: Jacob Broekhuijsen, Chief Executive Officer: +44(0)203-728-4450     

info@sequa-petroleum.com

SOURCE: Sequa Petroleum N.V.