NODDING DONKEY PLC

                              ("Nodding Donkey")

               Acquisition of 85% of Tamboran Botswana (Pty) Ltd

28 July 2014

Nodding Donkey is pleased to announce that its 86.95% owned subsidiary,
Equatorial Oil & Gas plc ("Equatorial" or "the Company"), has acquired 85% of
the issued share capital of Tamboran Botswana (Proprietary) Ltd ("Tamboran"),
hitherto a wholly-owned subsidiary of Tamboran Resources Ltd.

The consideration has been satisfied through Equatorial taking on the current
obligations of Tamboran's licence EL001/2012 along with a cash payment of USD
20,000, payable in two equal instalments of which the first payment is due by
31 December 2014, and the second payment by 31 December 2015.

In addition to being the holder of the EL001/2012 petroleum exploration
licence, Tamboran has two other petroleum exploration licence applications in
Botswana, which are anticipated to come under its control in due course.
Equatorial has agreed to pay Tamboran Resources Ltd USD 20,000 per new
petroleum licence granted.

TAMBORAN BOTSWANA (PTY) LTD

Tamboran is the holder of EL001/2012, a petroleum exploration licence
prospective for shale gas deposits, covering approximately 56,000 square
kilometres (c. 13.8 million acres) of the Gemsbok Basin in South-West Botswana.

Work undertaken to date by Tamboran has confirmed the potential of the licence
for shale gas, with high Total Organic Carbon ("TOC") values being returned
from exploration activities. TOC is the total amount of organic material
(kerogen) present in the rock, expressed as a percentage by weight. Typically,
the higher the TOC, the better the potential for hydrocarbon generation.

In addition to holding the EL001/2012 licence, Tamboran has two other petroleum
exploration licence applications in Botswana, which are anticipated to come
under its control in due course.

Additionally, Equatorial is anticipating its own licence for petroleum
exploration to be granted shortly. This licence borders Tamboran's EL001/2012
licence to the south, and is also prospective for a significant shale gas
target.

NOEL LYONS, CEO, EQUATORIAL OIL & GAS PLC, COMMENTED:

"This is a transformational development for the Company, and we are delighted
to have secured this on such attractive terms. We are cognisant that
exploration for shale gas in the region must only occur in a socially and
environmentally responsible manner, and will ensure steps are taken to fully
respect the operating environment at all times.

Equally, we believe that shale gas represents a potentially invaluable energy
resource for Botswana, and its discovery and exploitation could have a
significantly positive effect on the region as a whole.

We are delighted that Equatorial is well placed to have a meaningful impact for
shale gas exploration in one of Africa's most stable and transparent
countries."

The Directors of Nodding Donkey plc accept responsibility for the content of
this announcement.

ENQUIRIES

Company
Conrad Windham / Noel Lyons
Telephone: 020 3130 0674
Website: www.noddingdonkeyplc.co.uk

Corporate Adviser
Peterhouse Corporate Finance Limited
Guy Miller / Mark Anwyl
Telephone: 020 7220 9796