Statement re Share Price Movement

25 Jan 2005 09:56

Immediate release: 25 January 2005 Circle Oil Plc ("Circle" or "the Company") Statement Regarding Price Rise The directors of Circle note the recent rise in the Company's share price.The Company is currently in the final stages of negotiation with potentialpartners to exploit its current licences and will make further announcements indue course. -Ends- David Hough, Managing DirectorCircle Oil PLCTel. +353 61 354831Ben SimonsHansard CommunicationsTel. 020 7245 1100END