AGM Statement

WESSEX EXPLORATION PLC

(AIM: WSX)

AGM Statement

Wessex Exploration PLC ("Wessex" or "the Company") will be holding its Annual General Meeting in London at 11am today. At the meeting Malcolm Butler, Chairman of Wessex, will make the following statement:

"On Tuesday 4 December 2012, Wessex announced the results of its Zaedyus-2 appraisal well (GM-ES-2), offshore Guyane, which appears not to have encountered commercial hydrocarbons.

Zaedyus-2, drilled some 5 kms up-dip from the Zaedyus-1 discovery, establishes the approximate location of the up-dip seal to the Zaedyus-1 accumulation and the result has no bearing on the bulk of the undrilled prospectivity which is located down-dip of Zaedyus-1 and in other parts of the Cingulata fan complex.

The second well in the four-well programme (GM-ES-3) will be Priodontes-1, which is targeting an adjacent prospect within the same Cingulata fan system. It is expected to commence drilling later this month. Thereafter, the location of GM-ES-4 will be decided on the results of the earlier wells alongside interpretation of the recently acquired 3-D seismic data programme.

The partnership has an exciting forward drilling programme in its Guyane Maritime Permit and we intend to concentrate use of the available funds in order to fully participate in the anticipated exploration activity there during 2013.

As at 30 November 2012, Wessex had net cash balances of £8.3 million."

---------------------------------------------------------------------------------------------------------------------------------------

Notes to Editors:

Guyane

Wessex holds a net 1.25% interest in the Exclusive Exploration Licence (EEL) covering an approximate 24,100 sq.km offshore area of Guyane (a French prefecture previously known as French Guiana). The EEL interest is held via a 50/50 joint venture between Wessex and Northern Petroleum Plc, using Northpet Investments Limited as the holding company with a total interest of 2.5%. The other partners in Guyane are Shell (45% and operator), Tullow (27.5%) and Total (25%).

Juan de Nova

Wessex holds a 70% interest in the Juan de Nova Est Permit, covering 9,010 sq. km in water depths ranging from 200m to 3,000m, to the east of Juan de Nova Island in the Mozambique Channel. Wessex has been designated as operator, subject to the approval of the French authorities. Global Petroleum Limited (AIM: GBP, ASX: GBP) has a 30% interest.

Southern United Kingdom

Wessex holds three licences in southern United Kingdom - PEDL 238: 50%; PEDL 239: 25%; P1928: 35% - alongside its partner and operator, NWE Mirrabooka (UK) Pty. Ltd (a fully owned subsidiary of ASX listed Norwest Energy NL).

Saharawi Arab Democratic Republic (SADR, Western Sahara)

Wessex holds three blocks - Bojador (39,983 sq.km), Guelta (15,760 sq.km) and Imlili (16,955 sq.km) - under Assurance Agreements which cause Production Sharing Contracts to come into effect once the SADR government is able to take control of the territory. Wessex is the designated operator and holds a 50% interest; Tower Resources (AIM: TRP) has the other 50% interest.