MAGNOLIA PETROLEUM PLC - Directors- Share Purchases

Magnolia Petroleum Plc / Index: AIM / Epic: MAGP / Sector: Oil & Gas

10 March 2015

              Magnolia Petroleum Plc('Magnolia' or 'the Company')

                          Directors' Share Purchases

Magnolia Petroleum Plc, the AIM quoted US onshore oil and gas exploration and
production company, is pleased to announce that following the purchase of an
additional 103,092 ordinary shares of the Company at a price of 0.67p on 9
March 2015, the Board of Directors and management have completed their share
purchase programme ahead of entering a close period. This brings the total
number of ordinary shares acquired by the entire Board and management team in
March 2015 to 3,127,949. A breakdown of the latest purchases and subsequent
holdings is as follows:

Director     Date of Purchase     Ordinary   Price   Subsequent  % of Issued
                                    Shares    Paid      Holding        Share
                                 Purchased                           Capital

Steven Snead 9 March 2015           39,651   0.67p  202,726,748       22.26%

Ron Harwood  9 March 2015           39,650   0.67p   33,123,175        3.64%

Rita         9 March 2015           19,826   0.67p   12,225,669        1.34%
Whittington

Derec Norman 9 March 2015            3,965   0.67p      101,075        0.01%

The total issued share capital of the Company comprises 910,672,851 ordinary
shares of 0.1p each.

                                   **ENDS**

For further information on Magnolia Petroleum Plc visit
www.magnoliapetroleum.com or contact the following:

Steven Snead            Magnolia Petroleum Plc            +01 918 449 8750

Rita Whittington        Magnolia Petroleum Plc            +01 918 449 8750

Jo Turner/James Caithie Cairn Financial Advisers LLP      [phone]

John Howes/Alice Lane   Northland Capital Partners        [phone]
                        Limited

Lottie Brocklehurst     St Brides Partners Ltd            [phone]

Frank Buhagiar          St Brides Partners Ltd            [phone]

Notes

Magnolia Petroleum Plc is an AIM quoted, US focused, oil and gas exploration
and production company.  Its portfolio includes interests in 183 producing and
non-producing assets, primarily located in the highly productive Bakken/Three
Forks Sanish hydrocarbon formations in North Dakota as well as the oil rich
Mississippi Lime and the substantial and proven Woodford and Hunton formations
in Oklahoma.

Summary of Wells

Category                                                      Number of wells

Producing                                                                 183

Waiting on first sales / IP rates                                           2

Being drilled / completed                                                   5

Elected to participate / waiting to                                        26
spud

TOTAL                                                                     216