Directors' Dealings

Magnolia Petroleum Plc / Index: AIM / Epic: MAGP / Sector: Oil & Gas

28 January 2013

Magnolia Petroleum Plc(`Magnolia' or `the Company') Directors' Dealings Magnolia Petroleum Plc, the AIM quoted US onshore oil and gas exploration andproduction company, received notification on 25 January 2013 that Steven Snead,the CEO, Ronald Harwood, a non-executive director, and Gavin Burnell, anon-executive director, have each made the following purchases in the ordinaryshares of the Company: Director Date of Ordinary Price Subsequent % of Issued Purchase Shares paid Holding Share Purchased Capital Steven Snead 25 Jan 2013 500,000 2.9p 200,415,998 23.56 Ronald 24 Jan 2013 850,000 2.9p 30,582,426 3.60Harwood Gavin 25 Jan 2013 200,000 2.92p 14,385,797 1.69Burnell **ENDS**

For further information on Magnolia Petroleum Plc visit www.magnoliapetroleum.com or contact the following:

Steven Snead Magnolia Petroleum Plc +01 918 449 8750 Rita Whittington Magnolia Petroleum Plc +01 918 449 8750 Antony Legge/James Thomas Daniel Stewart & Company Plc +44 (0) 20 7776 6550 John Howes/John-Henry Wicks Northland Capital Partners +44 (0) 20 7796 8800 Limited Lottie Brocklehurst St Brides Media and Finance +44 (0) 20 7236 1177 Ltd Frank Buhagiar St Brides Media and Finance +44 (0) 20 7236 1177 Ltd NotesMagnolia Petroleum Plc is an AIM quoted, US focused, oil and gas explorationand production company. Its portfolio includes interests in 90 producing andnon-producing assets, primarily located in the highly productive Bakken/ThreeForks Sanish hydrocarbon formations in North Dakota as well as the oil richMississippi Lime and the substantial and proven Woodford and Hunton formationsin Oklahoma.Summary of WellsCategory Number of wells Producing 90 Being Drilled/Completed 15 Elected to participate/waiting to spud 17 TOTAL 122

This summary excludes four out of six wells acquired as part of the acquisitionof 800 gross acres with a 100% working interest in Osage County, Oklahoma, asannounced on 10 February 2012. These four wells are currently `shut in' andwill require a workover programme at some point in the future to bring backinto production.