Trafigura Beheer BV Acquires Shares of Pacific Exploration & Production Corporation

LONDON, UNITED KINGDOM and TORONTO, ONTARIO--(Marketwired - Aug. 31, 2015) - Trafigura Beheer B.V. ("Trafigura"), a market leader in the global commodities industry, announces that its wholly owned indirect subsidiary Urion Holdings (Malta) Limited ("Urion"), acquired an aggregate of 2,200,000 common shares ("Common Shares") of Pacific Exploration & Production Corporation on August 28, 2015 at an average price of $4.42 per share in the open market (the "Acquisition").

As a result of the Acquisition, Trafigura, through Urion, now exercises control or direction over an aggregate of 31,653,370 Common Shares, representing approximately 10.01% of the issued and outstanding Common Shares.

Trafigura has acquired these Common Shares for investment purposes and may increase or decrease the investment in these securities depending upon future market conditions. Trafigura may change its beneficial ownership of, or control or direction over, Common Shares through market transactions, private agreements, treasury issuances or otherwise.

In connection with this news release an early warning report will be filed by Trafigura in accordance with applicable securities laws.

About Trafigura:

Founded in 1993, the Trafigura Group has become one of the world's leading independent commodity traders, specialising in the oil, minerals and metals markets. The company has achieved substantial growth in recent years, growing revenue to USD127.6 billion in 2014. Primary trading activities are the supply and transport of oil and petroleum products and metals and minerals. The trading business is supported by industrial and financial assets including global oil products distribution company Puma Energy; joint venture company DT Group; global terminals operator Impala; Trafigura's Mining Group and Galena Asset Management. The Trafigura Group is owned by 600 of its 5,300 employees who work in 36 countries around the world. The Group has been connecting its customers to the global economy for more than two decades, growing prosperity by advancing trade. www.trafigura.com.