Annual Financial Report

60 St James's Street, London SW1A 1LE, United Kingdom

Telephone: + 44 (0)20 7629 7774 Facsimile: + 44 (0)20 7629 7773

POSTING OF ANNUAL REPORT AND ACCOUNTS

31st December 2010

Spitfire Oil Limited ("Spitfire Oil" or the "Company") confirms, pursuant to AIM Rule 20, that its report and accounts for the year ended 30 June 2010 have been posted to shareholders and that copies are available for download from the Company's website at http://www.spitfireoil.co.uk/so_home.asp

Spitfire Oil Ltd: Telephone: +44 (0)20 7629 7774

Mladen Ninkov - Chairman

Roger Goodwin - Director

Panmure Gordon (UK) Limited: Telephone: +44 (0)20 7459 3600

Dominic Morley

Hannah Woodley

Spitfire Oil Limited's shares are quoted on the Alternative Investment Market (AIM) of the London Stock Exchange (symbol SRO).

The Company's news releases are available on the Company's web site: www.spitfireoil.com