NUOG.L Regulatory News (NUOG)

ENEGI OIL PLC

AIM ticker: 'ENEG'

OTC ticker: 'EOLPF'

2 January 2013

Enegi Oil Plc

("Enegi" or "the Company")

Confirmation of Licence Awards

Enegi, the independent Oil and Gas Company, is pleased to announce that, further to its press release on 26 October 2012, the Department of Energy and Climate Change ("DECC") has confirmed the award of Traditional Production Licences, provisionally numbered P2007 and P1974, over Block 22/12b and Block 3/23 (split southern section), respectively ("the Blocks"). Under Licence P1974, Block 3/23 (split southern section) is referred to as Block 3/23a. Enegi has a 100% interest in both Blocks.

The start date for Licence P2007 and Licence P1974 is 1 January 2013. Under the licence terms for the Blocks, Enegi made the following work commitments:

Block 22/12b

The Company has initially agreed to obtain 250km2 of 3D seismic covering the licence block and areas adjacent to the licence. From the 1st January 2013, Enegi has two years in which to make a decision to either drill one well to penetrate the Palaeocene Forties Sandstone Member or relinquish the licence back to DECC and not to drill a well. If the Company does decide to drill a well then Enegi would have a further two years to drill the well in order to take the licence into the next phase. If the Company does drill the well and take the licence into the next phase, it would be expected that the licence will be extended for a further four years.

Block 3/23a

The Company has initially agreed to obtain 100km2 of 3D seismic and carry out a quantitative interpretation, in order to better define the possible seismic amplitude anomaly identified prior to the licence application. From 1st January 2013, Enegi has two years to decide to either drill one well to penetrate the Palaeocene Malvolio Sandstone or relinquish the licence back to DECC and not to drill a well. If the Company does decide to drill a well then Enegi would have a further two years to drill the well in order to take the licence into the next phase. If the Company does drill the well and take the licence into the next phase, it would be expected that the licence will be extended for a further four years.

The Company's intention is to develop both these Blocks in conjunction with ABTechnology ("ABT") and its buoy technology.

Alan Minty, CEO of Enegi Commented:

"We are delighted to have been awarded these Blocks and look forward to commencing our work programme with our partner ABT using their buoy technology which we believe offers the best chances of commercialising the discoveries and prospects that have already been identified on the Blocks."

www.enegioil.com

Facebook (Enegi Oil PLC)

Twitter (@enegioil)

Qualified Persons

The information in this release has been reviewed by Barath Rajgopaul MSc (Mech. Eng.) C. Eng, a member of the Advisory Board of Enegi. Mr. Rajgopaul has over 29 years' experience in the petroleum industry.

About Enegi

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, the Clare Basin in County Clare, Ireland, the UK North Sea and Jordan. 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. The Company's licences in the UK North Sea benefit from significant previous exploration investment, and have been selected based on buoy technology operating criteria. The Company has also entered into the highly prospective Dead Sea and Wadi Araba in Jordan with its partner Korea Global Energy Corporation.