Retirement of Chairman

6 September 2013

CIRCLE OIL PLC

("Circle" or the "Company")

Retirement of Chairman

Circle Oil Plc (AIM: COP), the international oil and gas exploration, development and production company, announces that Thomas Anderson, Chairman of the Company, has decided to step down from his position, effective from the AGM, held earlier today.

Thomas Anderson commented:

"I have been delighted to serve as a Director and as Chairman of Circle since 2003. In this time I have had the pleasure of working with a team dedicated to building a world class portfolio of assets and a profitable business on behalf of shareholders. Since taking on the position of Chairman, the company has grown considerably, as has the workload required of its Board. I feel now is the right time to step down and allow a new Chairman to take the helm as Circle continues its development."

The Board of Circle Oil thanked Thomas Anderson for his contribution:

"Thomas has played a critical role in the development of Circle. Our recent Interim Results underline the growth that has been achieved by the Company. Circle is now producing at record levels and is yielding an excellent financial return from its operations. This has been achieved in large part due to his stewardship of the Company over the last ten years. On behalf of the Company and its shareholders I would like to thank Thomas for his service as the Company's Chairman and wish him every success in the future".

Nicholas Clayton has been appointed as Interim Chairman.

For further information contact: 

Circle Oil Plc (+44 20 7638 9571)

Professor Chris Green, CEO

Investec (+44 20 7597 5970)

Chris Sim

George Price

James Rudd

Liberum Capital Limited (+44 20 3100 2222)

Simon Atkinson

Citigate Dewe Rogerson (+44 20 7638 9571)

Martin Jackson

Jack Rich

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 years and now has assets in the Rharb Basin, Morocco; the Ras Marmour Permit in southern Tunisia; the Mahdia Permit offshore Tunisia and 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.