Posting of circular

For release 12 October 2010

HARDY OIL AND GAS PLC

("Hardy" or the "Company")

Posting of circular

Hardy Oil and Gas plc (LSE: HDY.L) announces, further to the announcement dated 21 September 2010 detailing the proposed disposal of Hardy Oil (Africa) Limited, that the Company has posted a circular to shareholders convening an Extraordinary General Meeting to approve the proposed disposal.

The Extraordinary General Meeting is scheduled for 10.00 a.m. on 27 October 2010 and will be held at the offices of Lawrence Graham LLP, 4 More London Riverside, London SE1 2AU.

A copy of the circular has been submitted to the Financial Services Authority and will shortly be available for inspection at the National Storage Mechanism, which is located at www.hemscott.com/nsm.do.

The circular is also available on the Company's website, www.hardyoil.com.

For further information please contact:

NOTES TO THE EDITORS

Hardy Oil and Gas plc is an upstream international oil and gas company whose assets are principally in India. Its portfolio includes a blend of exploration, appraisal, development, and production assets. Hardy's goal is to evaluate and exploit its asset base with a view to creating significant value for its shareholders.

Hardy has existing production from an offshore field in India's Cauvery basin. Hardy also has interests in four offshore exploration blocks in India's Saurashtra, Cauvery, and Krishna Godavari basins, one onshore exploration block in the Assam basin and two licences in Nigeria.

Hardy is incorporated under the laws of the Isle of Man and headquartered in London, UK. Ordinary shares of Hardy were admitted to the Official List and the London Stock Exchange's market for listed securities effective 20 February 2008 under the symbol HDY.L.

The Company's Indian assets are held through its wholly owned subsidiary Hardy Exploration & Production (India) Inc, located in Chennai, India. The Company's Nigerian assets are held through wholly owned subsidiary Hardy Oil Nigeria Limited, located in Lagos, Nigeria which are in the process of being disposed.

For further information please refer to our website at www.hardyoil.com