Gunsynd PLC

("Gunsynd" or the "Company")

Update on Oyster Transaction

Gunsynd (AIM: GUN, AQSE: GUN) announces that, further to the announcement made on 30 October 2020, the Company has given notice to Sajawin Pty Limited ("Sajawin") to terminate the term sheet and variation terms sheet regarding the disposal of Gunsynd's shareholding in Oyster Oil & Gas Ltd.

As previously announced, if any of the Conditions Precedent were not satisfied by 30 October 2020, then either Party could terminate the Term Sheet and the Variation Term Sheet at which time the Parties' rights and obligations under the Term Sheet and the Variation Term Sheet would immediately cease.

Gunsynd, in conjunction with other shareholders in Oyster, will now seek alternative avenues to monetise the project.

The Directors of Gunsynd accept responsibility for this announcement.

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