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ENEGI OIL PLC

AIM ticker: 'ENEG'

OTC ticker: 'EOLPF'

24 April 2012

Enegi Oil Plc

('Enegi' or 'the Company')

Green Point Shale Update

The Company is pleased to note the announcement issued by Shoal Point Energy ("SPE") on 18 April 2012 that testing has commenced on their Shoal Point 3K39 well, which was drilled to target the Green Point Shale play in EL1070.

SPE indicates that four cased hole tests have been planned for the Shoal Point 3K39 well, with the first already commenced. SPE further indicates that all the tests will be completed within the next 35 days.

In parallel, AJM Deloitte, an independent geological consultant, has been engaged by Enegi to produce a report to assess the extent of the Green Point Shale on the Company's acreage. Once complete, the report will be compliant with the Canadian NI 51-101 standards of disclosure for oil and gas activities.

Alan Minty, CEO of Enegi Oil Plc., commented:

"We welcome the announcement from SPE as it is a positive step towards obtaining an SDL over EL1070, the lower portion of which is 100% owned by the Company and contains the conventional Shoal Point lead. We also keenly await with interest the upcoming test results from SPE and the imminent Green Point Shale report from AJM Deloitte, which will provide insight into the prospectivity of the Green Point Shale on our acreage."

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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.