88 Energy Limited

Issue of Equity

88 Energy Limited ("88E" or the "Company") confirms that it has today issued a total of 6,350,000 fully paid ordinary shares (the "New Ordinary Shares") pursuant to the exercise of options.

Application has been made for admission of the New Ordinary Shares issued to trading on AIM, which is expected to occur on 23 June 2017. Following the issue of the New Ordinary Shares, which rank pari passu to the existing ordinary shares in the Company, the Company has 4,642,393,932 ordinary shares in issue, all of which have voting rights.

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