Issue of Equity

ENEGI OIL PLC

AIM ticker: 'ENEG'

22 December 2011

Enegi Oil Plc

('Enegi' or 'the Company')

Issue of Equity

The Company announces that it has today issued and alloted 887,589 ordinary shares of 1 pence each in the Company (the "New Ordinary Shares") to Cenkos Securities plc in respect of corporate advisory services provided to the Company.

An application for admission of the New Ordinary Shares has been made to AIM and admission is expected to occur at 8.00 a.m. on 23 December 2011 ("Admission"). The New Ordinary Shares will rank pari passu with the existing shares of the Company. Following Admission, the Company's total issued share capital will be 98,423,582 shares.

In conformity with the FSA's Disclosure and Transparency Rules, as of 23 December 2011, the Company's issued share capital will consist 98,423,582 ordinary shares of 1 pence each with voting rights. Enegi does not currently hold shares in Treasury. Therefore, the total number of voting rights in Enegi as of 23 December 2011 will be 98,423,582. The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the ordinary shares of Northern under the FSA's Disclosure and Transparency Rules.

Enegi Oil Tel: + 44 161 817 7460

Alan Minty, CEO

David Parry, Director Tel: + 1 604 568 0733

Cenkos Securities Tel: + 44 207 397 8900

Jon Fitzpatrick

Neil McDonald

College Hill Tel: + 44 207 457 2020

Nick Elwes

www.enegioil.com

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.