GHS Update

ENEGI OIL PLC

AIM ticker: 'ENEG'

OTC ticker: 'EOLPF'

1 March 2012

Enegi Oil Plc

('Enegi' or 'the Company')

Garden Hill South Operational Update

Further to the release dated 15 February 2012, Enegi wishes to announce it has received encouraging news from McCaffrey Consulting Services Ltd., an independent consultant reservoir engineer engaged by the Company, that preliminary analysis, based on transient pressure data captured following the acid injection, indicates the bullhead acid squeeze has been effective. 

The data suggests that connectivity to the reservoir has improved significantly with the effective producing length of the PaP#1-ST#3 well ("the Well") more than doubling and fluid mobility increasing by approximately nine times. 

The Well will now be flowed to confirm the veracity of the analysis and the Department of Natural Resources ("DNR") has been informed of the intention to bring the Well back online over the following days. The Well will be flowed back at controlled rates to remove injected chemicals and spent acid whilst ensuring wellbore pressure does not drop below a certain threshold.

Further updates will follow as the programme is executed.

Enegi Oil Tel: + 44 161 817 7460

Alan Minty, CEO

David Parry, Director Tel: + 1 604 568 0733

Cenkos Securities

Jon Fitzpatrick Tel: + 44 207 397 8900

Neil McDonald Tel: +44 131 220 9771

College Hill Tel: + 44 207 457 2020

Nick Elwes

Alexandra Roper

www.enegioil.com

Facebook (Enegi Oil PLC)

Twitter (@enegioil)

Qualified Persons

The information in this release has been reviewed by Barath Rajgopaul MSc (Mech. Eng.) C. Eng, a member of the Advisory Board of Enegi. Mr. Rajgopaul has over 29 years experience in the petroleum industry.

The Company

Enegi Oil Plc is an independent oil and gas company. Current operations are focused on opportunities around the Port au Port Peninsula in Newfoundland, Canada and the Clare Basin in County Clare, Ireland. The Port au Port Peninsula is located in western Newfoundland, which, although lightly explored, is in an active petroleum system with light oil having been discovered on a number of occasions. The Clare Basin is located in western Ireland and initial technical studies show that it has the potential to contain shale gas.