Operational Update


ENQUEST PLC, 19 MAY 2016. OPERATIONAL UPDATE.

Production up 39% on 2015
Kraken and Scolty/Crathes are continuing on schedule
Delivering targeted capex and opex reductions

Highlights

  · Production averaged 42,752 Boepd for the four months to the end of April
2016, up 39% on 2015; average production in April was 45,933 Boepd, benefitting
from improving well performance at Alma/Galia. 2016 production from the rest of
EnQuest's North Sea fields was up 19% year on year, with Malaysia up 27%. This
reflected continuing high levels of production efficiency.

  · Full year production guidance is reiterated at between 44,000 Boepd and
48,000 Boepd.

  · The Kraken development project continues on schedule. The Scolty/Crathes tie
-back development is also on schedule. Drilling is ahead of programme and under
budget. The Scolty well was as expected and the Crathes reservoir was ahead of
expectations.

  · Alma/Galia production now has six production wells available. Average net
production of 9,017 Boepd was realised in April. Good uptimes are being
delivered and average production volumes are expected to increase with
performance enhancements such as acidisation being undertaken.

  · EnQuest is well on track to meet its cost reduction targets of delivering
unit opex in the range $25 - 27/bbl overall for 2016, and into the low $20s
after the Kraken development is fully onstream. 

  · The time saved from the excellent drilling performance on Scolty/Crathes,
has created the opportunity to accelerate drilling of the Eagle prospect into
Q2/Q3 2016.

  · As at 30 April 2016, EnQuest's net debt was approximately $1.63 billion.

EnQuest CEO Amjad Bseisu said
"EnQuest continues to focus on its strategic priorities in this low oil price
environment: strengthening the balance sheet, delivering on production and
execution targets and streamlining operations. The targeted reductions in capex
and opex announced in March are being realised, in conjunction with continuing
excellent operational performance.

Production to the end of April, averaged 42,752 Boepd, up 39% year on year, with
45,933 Boepd in April, benefiting from the production rise of Alma/Galia. The
production statistics show the breadth and depth of the operated asset base,
with good performances across the board; Thistle and Heather/Broom delivered
growth of 19% and 45% respectively. We reconfirm our production guidance for
2016 at between 44,000 Boepd and 48,000 Boepd.

EnQuest's high operating efficiency and execution capability enable us to
realise the optimal performance potential in maturing oil fields, with our low
cost delivery vital in current market conditions."

2016 net production statistics

+-----------------------+++-----------------+-----------------+
|Production on a working|||Net daily average|Net daily average|
|interest basis         |||   1 Jan’ 2016 to|   1 Jan’ 2015 to|
|                       |||    30 April 2016|    30 April 2015|
+-----------------------+++-----------------+-----------------+
|                       |||          (Boepd)|          (Boepd)|
+-----------------------+++-----------------+-----------------+
|Thistle/Deveron        |||            9,314|            7,809|
+-----------------------+++-----------------+-----------------+
|Dons/Ythan             |||            6,567|            6,587|
+-----------------------+++-----------------+-----------------+
|Heather/Broom          |||            6,149|            4,238|
+-----------------------+++-----------------+-----------------+
|Kittiwake              |||            3,678|            2,774|
+-----------------------+++-----------------+-----------------+
|Alma/Galia             |||            5,594|                 |
+-----------------------+++-----------------+-----------------+
|Alba                   |||            1,101|            1,192|
+-----------------------+++-----------------+-----------------+
|Total UKCS             |||           32,403|           22,601|
+-----------------------+++-----------------+-----------------+
|PM8/Seligi             |||            9,003|            8,167|
+-----------------------+++-----------------+-----------------+
|Tanjong Baram          |||            1,346|                -|
+-----------------------+++-----------------+-----------------+
|Total Malaysia         |||           10,349|            8,167|
+-----------------------+++-----------------+-----------------+
|Total EnQuest          |||           42,752|           30,768|
+-----------------------+++-----------------+-----------------+

Performance by individual production and development asset

UK North Sea

Thistle/Deveron

  · The 2015 drilling programme achieved industry leading execution performance
and was completed ahead of budget. The programme consisted of three electrical
submersible pump workovers, which exceeded performance expectations, also three
sidetracks; these are performing well and are on track to recover expected
reserves. Overall, the programme has delivered better cashflow than forecast.

Don fields/Ythan

  · Reservoir performance for the Dons wells is above expectation and production
is ahead of forecast. The first phase of the planned scale treatment programme
was successfully completed on Don Southwest and preparations are underway for
the second phase and a similar programme on West Don. Modifications to an export
pump have increased plant efficiency and reduced platform fuel costs.

Heather/Broom

  · Production rates from Heather and Broom are increasing as a result of 2015
drilling and ongoing water injection optimisation. Production efficiency
continues to be very strong.

Greater Kittiwake Area, including the Scolty/Crathes tie-back development

  · The Greater Kittiwake Area achieved good levels of production efficiency at
the start of the year. Production optimisation trials are progressing. Sand
clean-up operations, lifeboat upgrades and gas turbine controls upgrades have
been successfully completed.

  · On Scolty/Crathes, there has been excellent drilling performance on both
wells, completed ahead of schedule and under budget. The Crathes reservoir has
exceeded expectations and Scolty is on prognosis. Offshore construction is
progressing as per schedule on the Kittiwake platform and subsea construction is
planned for summer 2016.

Alma/Galia

  · Good uptimes are being achieved on the EnQuest Producer. All six production
wells are now available and production is being optimised. Production volumes
are expected to increase with performance enhancements such as acidisation being
undertaken. The fourth cargo off-take was successfully completed in May.

Kraken
Overall the project remains on schedule and on budget, with first oil
anticipated in H1 2017.

Floating production, storage and offloading vessel ('FPSO')

  · Key FPSO modules for fuel gas and separation were lifted on board the FPSO
in early April. Final deliveries of outstanding materials were received for a
water injection/hydraulic submersible pump module. Fuel gas compressors were
mechanically completed and access platforms were fabricated and integrated. The
two complete units will soon be lifted into the module infrastructure.
Integration work on piping continues ahead of schedule and cable pulling is
progressing where modules are now in place. Pre-commissioning work of sub
-systems is ramping up. Work continues on marine systems, tank works are
complete and work was concluded on helideck and aft deck areas. Good progress
made on equipment installation, cabling and fit-out.

Subsea umbilical riser and flowline / subsea production systems

  · Drill centre 2 (DC2) production and water injection manifolds have been
installed successfully. A vessel is currently infield working at DC2, installing
jumpers and relocating glass reinforced plastic covers which were previously wet
stored. At the end of April, a pipe laying vessel started mobilising for the
Kraken DC3 rigid pipeline installation campaign.

Drilling

  · The subsea trees for two injector and two producer wells were batch set onto
the respective wellheads with all four trees being handled at the same time by
the drilling rig. A further injector well was drilled through the reservoir,
which encountered all geobodies as prognosed, and the well was completed
successfully and tested. An injectivity test provided better results than
prognosed.

Malaysia

PM8/Seligi

  · The PM8/Seligi assets averaged just over 9,000 Boepd, representing an
increase of 10% compared to the same period last year. This strong performance
was supported by very high production efficiency and the successful ongoing idle
well restoration program.

  · This year's infrastructure work programme continues focus on integrity and
reliability, supporting safe and cost efficient operations. Longer term, EnQuest
will extend field life by investing in idle well restoration, facility
improvements and upgrades, and technical studies supporting development drilling
and secondary recovery projects to increase ultimate recovery.

Tanjong Baram

  · Tanjong Baram production averaged c.1,350 net Boepd for the period, with
intervention work scheduled in May, aiming to further increase field production.

Financial

  · As at 30 April 2016, EnQuest's net debt was approximately $1.63 billion.
EnQuest remains focused on its balance sheet strength and is pursuing a range of
opportunities and mitigations in this respect, on which EnQuest continues to
work closely with its facility providers. Potential measures include asset sales
and further cost reductions.

Ends

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

Notes to editors
EnQuest is the largest UK independent producer in the UK North Sea. EnQuest PLC
trades on both the London Stock Exchange and the NASDAQ OMX Stockholm. Its
operated assets include the Thistle/Deveron, Heather/ Broom, Dons area, the
Greater Kittiwake Area and Alma/Galia, also the Kraken and the Scolty/Crathes
developments; EnQuest also has an interest in the non-operated Alba producing
oil field. At the start of 2016, EnQuest had interests in 30 UK production
licences, covering 42 blocks or part blocks and was the operator of 25 of these
licences.

EnQuest believes that the UKCS represents a significant hydrocarbon basin, which
continues to benefit from an extensive installed infrastructure base and skilled
labour. EnQuest believes that its assets offer material organic growth
opportunities, driven by exploitation of current infrastructure on the UKCS and
the development of low risk near field opportunities.

EnQuest is replicating its model in the UKCS by targeting previously
underdeveloped assets in a small number of other maturing regions; complementing
its operations and utilising its deep skills in the UK North Sea. In which
context, EnQuest has interests in Malaysia where its operated assets include the
PM8/Seligi Production Sharing Contract and the Tanjong Baram Risk Services
Contract.

Forward looking statements: This announcement may contain certain forward
-looking statements with respect to EnQuest's expectation and plans, strategy,
management's objectives, future performance, production, reserves, costs,
revenues and other trend information. These statements and forecasts involve
risk and uncertainty because they relate to events and depend upon circumstances
that may occur in the future. There are a number of factors which could cause
actual results or developments to differ materially from those expressed or
implied by these forward looking statements and forecasts. The statements have
been made with reference to forecast price changes, economic conditions and the
current regulatory environment. Nothing in this presentation should be construed
as a profit forecast. Past share performance cannot be relied on as a guide to
future performance.