Sequa Petroleum N.V. — Capital/Financing Update 2017

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