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ENEGI OIL PLC

AIM ticker: 'ENEG'

OTC ticker: 'EOLPF'

30 September 2013

Enegi Oil Plc

("Enegi" or "the Company")

Newfoundland Update

Enegi, the independent Oil and Gas Company with a portfolio of assets located in the UK North Sea, Newfoundland Canada, Ireland, and Jordan today provides the following update on its Newfoundland operations with Black Spruce Exploration ("BSE").

As indicated in the news release dated 24 July 2013, BSE intend to begin a multi-well drilling campaign in Newfoundland with a new well on the Garden Hill Field ("GHF"), provisionally called PaP#4. Subject to receiving the appropriate regulatory approvals, PaP#4 will be drilled to appraise the conventional, proven oil bearing Aguathuna Formation. The targeted trend represents a zone of greater reservoir quality and connectivity within the Aguathuna Formation, the presence of which has been substantiated by test data obtained from flowing the existing PaP#1-ST-3 well.

Since this time the Company and BSE have been working towards finalising an appropriate programme of work that will maximise the chance of successfully appraising, and subsequently enhancing production from, GHF. In order to expedite this process the BSE technical team recently visited the Company in the UK to assess the Company's geological information and seismic data to better understand the potential of GHF. Following the visit, an initial target for PaP#4 has now been agreed:

· Subject to receiving the appropriate regulatory approvals, PaP#4 will be drilled from the existing wellsite;

· The initial target is a more favourable location than previous wells, to penetrate better quality reservoir;

· Initially, PaP#4 will penetrate the primary reservoir target vertically, for logging, testing and the collection of core data;

· Subsequently, directional drilling will guide PaP#4 through the reservoir interval in search of greater reservoir quality across the trend.

To support this approach, extensive decision tree analysis has been performed to determine the best placement of new wells and their side-tracks. This method has allowed forward planning so that subsequent wells and side-tracks can be drilled shortly following PaP#4, thereby minimizing down-time for the drill rig.

In parallel, BSE have informed the Company of various activities that it is undertaking to ensure that their drill rig in Houston, a Superior 700 UE model, will be sufficient to meet the requirements of the anticipated drilling campaign and to ensure that regulatory approvals are met. BSE's drill rig is currently being modified, with two major modifications being the installation of a new top drive and additional mud tanks, which would allow the rig to drill to depths anticipated in the multi-well drilling campaign. The objective is to ensure the drill rig has all the equipment and facilities to commence the drilling campaign as soon as it arrives in western Newfoundland.

From a regulatory perspective, BSE have commenced the drilling rig approval process. This requires a professional engineer registered in the province of Newfoundland & Labrador to sign a "Fit for Purpose" statement that confirms that the rig equipment, management systems, rig supervisors and personnel are capable of executing a drilling campaign that would comply with local regulatory requirements. BSE have informed the Company that an initial inspection of their Superior 700 UE drill rig in Houston, by a professional engineer registered in the province of Newfoundland & Labrador, went very well and that an inspection report is expected imminently. Pictures of BSE's drill rig have been posted on the Company's website.

Recently, BSE have opened its head office in Corner Brook, Newfoundland with a number of key staff, including the management team, geologists and engineers, relocating to this location. BSE have informed the Company that they are looking to hire more local staff in order to carry out the anticipated work programme and intend to secure warehouse space for a pipe facility.

The Company looks forward to further updates from BSE.

Alan Minty, CEO of Enegi, commented:

"Excellent progress has been made since we announced our farm-in with BSE. We are encouraged that in such a short space of time the BSE team have set up an office near site and have implemented actions to ensure that their drill rig is able to execute the anticipated drilling campaign, both from a technical perspective and a regulatory perspective. We look forward to providing further updates in due course."

David Murray, CEO of Black Spruce Exploration commented:

"We believe our multi-well campaign in Newfoundland will be the catalyst for an oil and gas industry in western Newfoundland. We have assembled a very experienced management team to execute the campaign and have already laid the foundation with the opening of our head office in Corner Brook."

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Qualified Persons

The information in this release has been reviewed by Barath Rajgopaul MSc (Mech. Eng.) C. Eng, a member of the Advisory Panel of Enegi. Mr. Rajgopaul has over 30 years' experience in the petroleum industry.

About Enegi Oil

Enegi Oil Plc is an independent oil and gas company whose strategy to build a diverse portfolio assets with a strong emphasis on acquiring interests in marginal fields. These marginal fields are low risk highly-appraised projects and consequently the Company's entry cost will be low. Enegi will look to develop these assets utilising ABTechnology's buoy technology which is an appropriate solution and changes the development economics of the project. This is also expected to enable the early booking of reserves. The Company's current portfolio is made up of operations 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 have discovered hydrocarbons on them 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.

About Black Spruce Exploration Corp.

Black Spruce Exploration Corp., ("BSE"), with offices in Calgary, Alberta and St. John's and Corner Brook in Newfoundland, is an exploration and production company with property rights, licenses and interests in the province of Newfoundland and is a wholly-owned subsidiary of Foothills Capital Corp. (www.foothillscapcorp.com)

Black Spruce Exploration Corp. is making arrangements with its affiliated companies to bring a drilling rig, drill pipe, casing pipe, tubing pipe, heavy picker truck, hauling trucks and a skidding unit, machine lathes and other field support equipment from various affiliates of Foothills Capital Corp. in order to ensure that Black Spruce Exploration has the necessary equipment to safely and effectively properly drill and develop hydrocarbon energy reserves on the west coast of Newfoundland.

The board of directors of Black Spruce Exploration Corp. has over 100 years combined experience directly or indirectly in the energy sector, engaging in transactions that have ranged from $1 million to over $15.3 billion in value. Board members have worked for or with junior companies or large international players such as Conwest Exploration Inc., Alberta Natural Gas, Bayridge Resources Limited, HESS Corporation, Burlington Resources, Gulf Oil, EnCana, Exxon, Helmrich & Payne, Nabors Drilling, CNRL, UPRI, British Petroleum America, Shell, Southwest Energy, Chesapeake Energy, Talisman and Statoil.

Foothills Capital, under TRP Holdings, Corp., presently operates in the Bakken shale-oil formation through its subsidiary entity Bakken ND Pipe & Supply, LLC, which is located in Ross, North Dakota. The officers and directors have worked in other oil and gas shale formation plays throughout the United States, as well as in conventional oil and gas fields in the United States and Canada.