NOTIFICATION OF MAJOR INTEREST IN SHARES For filings with the FSA include the annex For filings with issuer exclude the annex TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi 1. Identity of the issuer or the underlying issuer EnQuest PLC of existing shares to which voting rights are attached: ii 2 Reason for the notification (please tick the appropriate box or boxes): An acquisition or disposal of voting rights X An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments An event changing the breakdown of voting rights Other (please specify): 3. Full name of person(s) subject to the Lorito Holdings (Guernsey) Limited & Zebra Holdings and Investments (Guernsey) Limited both of 1st & 2nd Floors, Elizabeth House, Les Ruettes Brayes, St Peter Port, Guernsey GY1 1EW notification obligation: iii 4. Full name of shareholder(s) N/A (if different from 3.):iv 5. Date of the transaction and date on 6 October 2010 which the threshold is crossed or reached: v 6. Date on which issuer notified: 18 October 2010 7. Threshold(s) that is/are crossed or 15 % reached: vi, vii 8. Notified details: A: Voting rights attached to shares viii, ix Class/type of Situation previous Resulting situation after the triggering transaction shares to the triggering if possible using transaction the ISIN CODE Number Number Number Number of voting % of voting rights x of of of shares rights Shares Voting Rights Direct Direct xi Indirect xii Direct Indirect Ordinary 102,864,417&14,612,072 102,864,417&14,612,072 92,864,417&20,373,393 92,864,417&20,373,393 Nil 14.61% Nil GB00B635TG28 B: Qualifying Financial Instruments Resulting situation after the triggering transaction Type of financial Expiration Exercise/ Number of voting % of voting instrument date xiii Conversion Period xiv rights that may be rights acquired if the instrument is exercised/ converted. C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi Resulting situation after the triggering transaction Type of financial Exercise price Expiration date xvii Exercise/ Number of voting rights instrument refers to % of voting rights xix, xx instrument Conversion period xviii Nominal Delta Total (A+B+C) Number of voting rights Percentage of voting rights 113,237,810 14.61 % 9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable: xxi Proxy Voting: 10. Name of the proxy holder: N/A 11. Number of voting rights proxy holder will cease N/A to hold: 12. Date on which proxy holder will cease to hold N/A voting rights: 13. Additional information: Notification is based on a total voting rights figure of 775,027,922. Lorito Holdings (Guernsey) Limited holds 92,864,417 EnQuest shares Zebra Holdings and Investments (Guernsey) Limited holds 20,373,393 EnQuest shares 14. Contact name: 15. Contact telephone number: Paul Waters +44(0)20 7925 4900
NOTIFICATION OF MAJOR INTEREST IN SHARES
| Source: EnQuest PLC