Appointment of Joint Brokers

4 July 2012

Circle Oil Plc

("Circle" or the "Company")

Change of Name of Nominated Adviser and appointment of Joint Brokers

Circle Oil plc (AIM: COP) announces that, following the acquisition of the Evolution Group plc by Investec plc, it has appointed Investec Bank plc ("Investec") as Nominated Adviser and Joint Broker.

In addition, the Company is pleased to announce the appointment of Liberum Capital Limited as Joint Broker.

Both appointments are made with immediate effect.

For further information contact: 

Circle Oil Plc (+44 20 7638 9571)

Professor Chris Green, CEO

Investec (+44 20 7597 5970)

Chris Sim

Neil Elliot

Liberum Capital Limited (+44 20 3100 2222)

Simon Atkinson

Fergus Marcroft

Citigate Dewe Rogerson (+44 20 7638 9571)

Martin Jackson

Kate Lehane

Murray Consultants (+353 1 498 0300)

Joe Murray

Joe Heron

Notes to Editors

Circle Oil Plc (AIM: COP) is an international oil & gas exploration, development and production Company with an expanding portfolio of assets in Morocco, Tunisia, Oman and Egypt with a combination of low-risk near-term production and significant exploration upside potential. The Company listed on AIM in October 2004.

Internationally, the Company has continued to expand its portfolio over the past two years and now has assets in the Rharb Basin, Morocco; the Ras Marmour Permit in southern Tunisia; the Mahdia Permit offshore Tunisia; the Grombalia Permit in northern Tunisia and the NW Gemsa Concession in the Zeit Bay area of Egypt. Circle also has the largest licence holding of any company in Oman. In addition to its prospective Block 52 offshore, Circle also has an ongoing exploration programme in Block 49 onshore.

Circle's strategy is to locate and secure additional licences in prospective hydrocarbon provinces and through targeted investment programmes, monetise the value in those assets for the benefit of shareholders. This could be achieved through farm-outs to selected partners who would then invest in and continue the development of the asset into production, or Circle may itself opt to use its own expertise to appraise reserves and bring assets into production, generating sustained cash flow for further investment.

Further information on Circle is available on its website at www.circleoil.net.