Additional PNG Petroleum Prospecting Licence Grant

9 May 2012

UMC Energy PLC

("UMC" or the "Company")

Additional PNG Petroleum Prospecting Licence Grant

The directors of UMC are pleased to advise that Gini Energy Limited ("Gini"), in which the Company has a 30 per cent. equity interest, has been granted onshore Petroleum Prospecting Licence No. 405 by the government of Papua New Guinea ("PNG").

PPL 405 consists of nine graticular blocks 2299 - 2302, 2372, 2374-5, 2444 and 2447, located in the PNG highlands, and has an initial exploration phase of six years.

As previously advised, the remaining 70 per cent. equity interest in Gini is held by CNOOC Australia Limited ("CNOOC"), a subsidiary of CNOOC Limited, the Chinese multi-national oil and gas company listed on the New York and Hong Kong Stock Exchanges.

CNOOC is responsible for funding all expenditure in respect of PPL 405 and is required to comply with the minimum work obligations during the exploration phase. Such expenditure will be repaid to CNOOC out of production revenues and off take of oil and gas should production occur. If exploration and appraisal work indicates the probable existence of commercial reservoirs of oil or gas in any part of PPL 405 at the end of the exploration phase, the parties must each finance their pro-rata share of all expenditure required in respect of the development plan either themselves or by procuring sufficient finance from a third party.

For further information:

Enquiries:

 Chrisilios Kyriakou, Chairman

UMC Energy Plc

Telephone: +44(0) 20 7290 3102

Angela Peace/ James Spinney

Strand Hanson Limited

Telephone: +44 (0) 20 7409 3494

Philip Haydn-Slater/Paul Dudley

HD Capital Partners LLP

Telephone: +44(0) 20 3551 4870