Hague and London Oil Regulatory News (HNL)

WESSEX EXPLORATION PLC

(AIM: WSX)

End of Offer Period

Wessex Exploration PLC ("Wessex" or "the Company") notes the announcement made today by Total S.A ("Total") stating that it has decided not to proceed further with an offer for the Company. As a consequence, the Company is no longer in an offer period.

As previously announced, having completed the initial shareholder consultations, the Board are of the view that the approach of 10 pence per ordinary share undervalues the Company and was inadequate to secure their support for any offer which Total might consider at this level.

Wessex confirms that, having raised £12m (gross) of additional funding in November 2011, the Company is fully funded for all current requirements, including participation in a further Zaedyus appraisal well and at least one additional well. Drilling is expected to commence in mid-2012 to follow up on the Zaedyus oil discovery in late 2011 that demonstrated the prospectivity of this licence area off South America. To undertake these operations Shell, the operator, has contracted the Stena DrillMax ICE drill-ship, which is expected to commence operations mid-year subject to government consents.