Spud of well EG7

5 April 2012

Bayfield Energy Holdings plc

("Bayfield" or "the Company")

Spud of exploration and appraisal well EG7

Bayfield Energy (AIM: BEH), an independent oil and gas exploration and production group with key assets in Trinidad and Tobago, has announced the spud of the second well in its exploration and appraisal programme in the offshore Galeota Licence Area, designated EG7. The well spudded on 4 April 2012 and is being drilled by the Rowan Gorilla III jack-up rig, following on from EG8, which was suspended as an oil and gas discovery in March following successful drilling results.

The well is located in 112 ft (34 m) of water and lies approximately 800m east of well EG1, which encountered oil in 1964. EG7 is planned to be drilled to a total depth of approximately 8,485 ft (2,586 m, measured depth below rotary table) and will be deviated to the south-east from the surface location to investigate the Lower Pliocene to Upper Miocene stacked shallow marine sandstone reservoirs encountered in the previous discovery wells EG1 (1964) and COS1 (1985).

As in well EG8, several primary exploration targets have been identified by direct hydrocarbon indicators highlighted through reprocessing of 3D seismic data acquired by Bayfield in 2010.

Following completion of EG7, as previously agreed the jack-up unit will revert to Bayfield's alliance partner in the rig contract. This will allow time for Bayfield to integrate the results from EG7 and EG8 into its evaluation of the Galeota Licence, prior to proceeding with the next phase of drilling.

Bayfield is the operator of the Galeota Licence area holding a 65% interest, with Petrotrin holding the remaining 35%.

-ends-

Enquiries: