Sequa Petroleum N.V.

Capital/Financing Update • Jun 20, 2017

Sequa Petroleum N.V. Funding Update

Sequa Petroleum N.V. Funding Update

Further to its press release of 15 May, Sequa Petroleum N.V.

("Company") announces that its 100% subsidiary Tellus

Petroleum AS has now received NOK 358,863,837 from the

Norwegian tax authorities in relation to its cessation of

E&P activity in Norway.

As previously stated, Management expects that debt

restructuring and possibly new equity and/or debt funds will

enable the Company to progress selected high quality

appropriately sized acquisition targets of production and

development assets elsewhere that are value-accretive and

provide cash flow.

Contacts:

Jacob Broekhuijsen, Chief Executive Officer

+44(0)203-728-4450 or info@sequa-petroleum.com