MPI : Third-Quarter 2013 Sales

Regulatory News:

MPI (Paris:MPI):

The table below gives SEPLAT's production and sales data as at 30 September 2013:

ACTIVITY FOR THE PERIOD

The operated production retained on the fields of OMLs 4, 38 and 41 was up 48%. It thus totalled an average of 45,349 barrels per day over the first nine months of 2013, compared with 30,540 barrels per day for the same period in 2012.
This increase is primarily due to the connection in May of the Okporhuru field, the new field developed by Seplat.

Oil sales for the fields (Seplat's share) were recognised in the amount of US$ 616.3 million, equating to 5,571,183 barrels of oil sold at an average price of US$110.46 per barrel (premium of 2 $ relative to the average price of Brent for the period). Barrels recognized in inventories as at 30 June 2013 were sold in their entirety.

Gas sales totalled US$ 11.9 million, corresponding to gas sales to NGC (Nigerian Gas Company). The difference relative to Q3 2012 is due to the adjustment agreed in June 2012 following the increase in sale prices.

PRODUCTION TARGETS

Seplat's year-end well output target of 60,000 bbl/d is confirmed.

For more information: www.mpienergy.com

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This document may contain forward-looking statements about MPI's financial position, income, activities and industrial strategy. By their nature, forward-looking statements contain risks and uncertainties to the extent that they are based on events and circumstances that may or may not happen in the future. These projections are based on assumptions we believe to be reasonable, but which may prove to be incorrect and which depend on a number of risk factors such as fluctuations in crude oil prices, changes in exchange rates, uncertainties related to the valuation of our oil reserves, actual rates of oil production and the related costs, operational problems, political stability, legislative or regulatory reforms, or even wars, terrorism and sabotage.