ENQUEST PLC, 17 March 2016.  Results for the year ended 31 December 2015

Strong 2015 production, up 31% year on year, above upper end of guidance range

Further capex and opex reductions
c.$500 million of liquidity available
2015 Highlights

  · Production averaged 36,567 Boepd in 2015, up 31% on 2014 and above EnQuest's
guidance range.  In both November and December, EnQuest production averaged over
50,000 Boepd.  This reflected a very good operating performance in 2015, with
continuing high levels of production efficiency.
  · Continued to reduce operating costs, with full year 2015 unit opex at
$29.7/bbl, compared to $42.1/bbl in 2014.

  · Revenue of $906.6 million and EBITDA** of $464.8 million, reflecting the
strong operational performance.

  · Projects: Alma/Galia was brought onstream on 27 October 2015. The Kraken
project continued on schedule and overall project savings of c.$300 million were
achieved compared to the original sanctioned level of capital expenditure.

  · Net 2P reserves of 216 MMboe as at start of 2016, down 4 MMboe after 2015
production of 13.3 MMboe, also reflecting the impact of lower oil price
assumptions and of EnQuest's 10.5% additional interest in the Kraken
development, acquired at the start of 2016. Net contingent resources were 146
MMboe at end of 2015.

  · Non-cash post-tax tangible oil and gas asset impairments of $626.2 million,
due to the significant reduction in the oil price, particularly in the near
term.

  · Net debt at the year end, was $1,548.0 million, EnQuest was therefore well
within its net debt to EBITDA covenant of five times, for 2015.

2016 Priorities and Outlook Highlights

  · Hedging remains in place for 2016: 10 million barrels are hedged across
2016, at an average of $68 per barrel.

  · Further cost reductions: Unit opex: EnQuest is now on course to achieve
further reductions in average unit opex, in the range $25 - 27/bbl overall for
2016 and into the low $20s after the Kraken development is fully onstream. Total
EnQuest 2016 cash capex has been reduced again, now at the low end of the
previously announced $700 million to $750 million, despite including additional
capex associated with the 10.5% increase in EnQuest's Kraken working interest.
This is down from an equivalent initial 2016 cash capex budget of c.$950
million.
  · EnQuest remains focused on its balance sheet strength and is also pursuing a
range of further opportunities for debt reduction, including potential asset
sales and continuing opex and capex cost reductions.  As at 31 December 2015,
cash and undrawn facilities totalled $496.0 million, giving sufficient liquidity
to fund Kraken through first oil at prevailing prices.
  · EnQuest reaffirms its production guidance for the full year 2016 at an
average of between 44,000 Boepd to 48,000 Boepd.
  · Projects: Six Alma/Galia production wells have now been commissioned and are
all expected to be onstream by early Q2 2016.  The Kraken FPSO is on course for
departure from Singapore in 2016, and the development is continuing on schedule
for first oil in 2017.   Since capex savings of c.$300 million were announced in
2015, a further c.$125 million reduction has been made against Kraken's full
cycle gross capex budget.

* Unless otherwise stated, all figures are on a business performance basis and
are in US dollars.

Click on, or paste the following link into your web browser, to view the
associated PDF document.

http://www.rns-pdf.londonstockexchange.com/rns/3697S_1-2016-3-17.pdf

+-------------------------+--------------------------+
|For further   information|                          |
|please contact:          |                          |
+-------------------------+--------------------------+
|                         |                          |
+-------------------------+--------------------------+
|EnQuest PLC              |Tel: +44 (0)20   7925 4900|
+-------------------------+--------------------------+
|Amjad Bseisu   (Chief    |                          |
|Executive)               |                          |
+-------------------------+--------------------------+
|Jonathan Swinney   (Chief|                          |
|Financial Officer)       |                          |
+-------------------------+--------------------------+
|Michael Waring   (Head of|                          |
|Communications & Investor|                          |
|Relations)               |                          |
+-------------------------+--------------------------+
|                         |                          |
+-------------------------+--------------------------+
|Tulchan   Communications |Tel: +44 (0)20   7353 4200|
+-------------------------+--------------------------+
|Martin Robinson          |                          |
+-------------------------+--------------------------+
|Martin Pengelley         |                          |
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