Ms. Ioana Condacci of AOG reports

THE ADDAX AND ORYX GROUP ACQUIRES ADDITIONAL SHARES OF ORYX PETROLEUM

AOG Upstream BV, an indirect wholly owned subsidiary of The Addax and Oryx Group PLC (AOG), acquired today ownership and control of an additional 24,481,049 common shares from treasury of Oryx Petroleum Corp. Ltd., representing approximately 5.65 per cent of the issued and outstanding common shares prior to giving effect to the issuance, for aggregate consideration of the U.S.-dollar equivalent of $5,121,435.45 (20.92 cents per common share) (converted in U.S. dollars based on the Bank of Canada Canadian-dollar-to-U.S.-dollar Nov. 6 to Nov. 10, 2017, average exchange rate).

Prior to the acquisition, the acquiror and its affiliates, through direct and indirect ownership, beneficially owned, controlled or directed 266,314,286 common shares, representing approximately 61.4 per cent of the then outstanding common shares. After giving effect to the acquisition, the acquiror and its affiliates, through direct and indirect ownership, beneficially own, control or direct 290,795,335 common shares, representing approximately 63.5 per cent of the outstanding common shares.

The common shares were acquired for investment purposes. Depending on market conditions and other relevant factors, the acquiror and its affiliates may acquire additional common shares either on the open market or through private acquisitions, including acquisitions from treasury of the issuer, or sell common shares either on the open market or through private dispositions.

More specifically, based on the loan agreement dated March 11, 2015, as amended on April 28, 2017, between AOG International Holdings Ltd., an affiliate of AOG, as lender, and Oryx Petroleum Middle East Ltd., a wholly owned subsidiary of the issuer, as borrower, additional acquisitions of the issuer's common shares are foreseen so that the proceeds from such acquisition can be used to repay accrued interests under the loan agreement.

For additional information or to obtain a copy of the early warning report to be filed by AOG Upstream in connection with the foregoing, please contact: Ioana Condacci Reis, group general counsel and group corporate secretary, telephone: 44-0-20-7408-2604 or e-mail: ioana.condacci@aoginvest.com.