88 Energy Limited

Issue of Equity

88 Energy Limited ("88E" or the "Company") confirms that it has today issued a total of 51,215 fully paid ordinary shares ("Ordinary Shares") pursuant to the exercise of options.

Application has been made for admission of the 51,215 Ordinary Shares issued today to trading on AIM, which is expected to occur on 25 May 2016. Following the issue of these 51,215 Ordinary Shares, which rank pari passu to the existing ordinary shares in the Company, the Company has 3,893,180,418 ordinary shares in issue, all of which have voting rights.

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