NUOG.L Regulatory News (NUOG)

12 September 2011

Enegi Oil Plc

('Enegi' or 'the Company')

Board Changes

The Company is pleased to announce that with effect from 1st October it will considerably strengthen its Board with a number of key appointments who bring significant industry and business related expertise that will allow Enegi to commercialise its opportunities more effectively.

Highlights

·; Frank Jackson to join the Board from 1st October as a Non-Executive Director with additional remit to provide guidance on and implementation of the commercialisation strategies available for buoy technology

·; David Parry to join the Board from 1st October as an Executive Director with responsibility for the further development of the Company's hydrocarbon assets in western Newfoundland

·; Derek Cochrane to join the Board from 1st October as a Non-Executive Director

·; Damian Minty to join the Board from 1st October as Chief Financial Officer

·; Barath Rajgopaul to retire from the Board on 1st October and will join a newly created Advisory Board that will provide the Company with access to a number of experienced and respected industry professionals

Principal among the changes is the appointment of two new directors, Frank Jackson and David Parry. Their primary responsibilities will be the development of opportunities presented by, respectively the buoy technology and the advancement of the Company's western Newfoundland assets.

Frank Jackson will be joining the Company as a Non-Executive Director and in addition to the usual responsibilities attached to that role, he will also lead the Company's opportunities in buoy technology. Frank has over 20 years experience in the oil and gas sector where he has raised significant funds, taken companies to market and negotiated hydrocarbon asset transactions. Most recently, Frank was the Executive Commercial Director of Aurelian Oil and Gas which during his association with the company raised over C$100m.

David Parry will join the Company as an Executive Director and will focus on the development of Company's western Newfoundland assets. He will also use his extensive industry experience to assist in the opportunities offered by buoy technology. David has been working with public and private companies in the natural resource sector over the past 15 years. He has an extensive network of contacts and relationships throughout Europe, the Former Soviet Union, Asia and Africa. David has considerable experience in mergers and acquisitions and has raised significant funds from both European and Canadian markets. David has been a Director of public companies since 2004 and is currently an Independent Director of Abenteuer Resources Corp., a post he has held since August 1, 2008.

Additional Changes to the Board

The Company is also pleased to announce two further additions to the Board of Enegi and disappointed to announce one departure.

Derek Cochrane will join the Board as a Non-Executive Director. Derek has over 30 years experience in the oil and gas sector mainly working for British Petroleum in which he was exposed to a broad spectrum of commercial issues including asset management, strategy development and opportunity assessment. Most recently Derek assisted in the formation of Skana Capital Corp, a TSX Ventures Merchant Bank established to invest in oil properties which raised C$30m from fund managers in Canada and Europe.

Damian Minty will join the Board as Chief Financial Officer. Damian has occupied that role for the last two years without being a member of the Board and has been involved with either Enegi or its subsidiary PDI Production Inc. for the past six years acting in a number of roles including Commercial Manager and Financial Controller.

Barath Rajgopaul has decided to retire from the Board after three and a half years as a director. The Company would like to thank Barath for his hard work, dedication and loyalty during what has been a difficult period for the Company. To ensure that Barath's knowledge of the Company's activities is not lost he will be taking a position on a newly formed Advisory Board.

Advisory Board

In addition to the changes to the Board of the Company, Enegi is also pleased to announce the creation of an Advisory Board. The purpose of the Advisory Board will be to provide the Company with access to a number of highly respected industry professionals across a broad range of disciplines that will be able to advise the Company as it implements its plans both in terms of buoy technology and its hydrocarbon assets.

The Advisory Board will operate in an analogous way to duties of non-executive directors. The major function would be to provide independent judgement on the value assessment and the monetization process that should be adopted by the Board to maintain and optimise shareholder value.

The first appointment to the Advisory Board is Barath Rajgopaul, ex-Director of Enegi. The Company is in advanced negotiations with a number of suitable candidates and will announce the first appointments prior to the new directors commencing their duties with the Company.

Alan Minty, CEO of Enegi Oil commented:

"We are all excited about the Company's opportunities both from buoy technology and the developments in western Newfoundland, the changes to the Company's management have been made in order to realise these opportunities.

Furthermore, we have worked hard to attract people who possess a great deal of experience within the industry and can bring a strong track record in corporate governance, structuring and completing transactions and fund raising.

We believe that the portfolio of opportunities that the Company has worked hard to deliver over the past 12 months made it an attractive proposition and with the addition of Frank, David and Derek we can grow the Company rapidly.

Naturally, I am sorry that Barath has decided to retire. He has worked tirelessly to help create this strong position from which the Company can grow. We wish him well in his future endeavours and are pleased that he has agreed to continue to support the Company by taking a seat on the Advisory Board."

www.enegioil.com

The Company

Enegi Oil Plc is an independent oil and gas company. Current operations are focused on opportunities around the Port au Port Peninsula in Newfoundland, Canada and the Clare Basin in County Clare, Ireland. The Port au Port Peninsula is located in western Newfoundland, which, although lightly explored, is in an active petroleum system with light oil having been discovered on a number of occasions. The Clare Basin is located in western Ireland and initial technical studies show that it has the potential to contain shale gas. Pursuant to the AIM Rules for Companies (the "AIM Rules"), the following information in respect of David Parry, Derek Cochrane and Damian Minty required to be disclosed is set out below.

Other than this information there is no further information required to be disclosed under paragraph (g) of Schedule 2 of the AIM Rules.