Update to Timetable

NEITHER THIS ANNOUNCEMENT NOR ANY PART OF IT CONSTITUTES AN OFFER TO SELL OR ISSUE OR THE SOLICITATION OF AN OFFER TO BUY, SUBSCRIBE OR ACQUIRE ANY NEW COMMON SHARES IN ANY JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL. THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, OR INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE UNLAWFUL. 

24 January 2013

MADAGASCAR OIL LIMITED

("Madagascar Oil" or the "Company")

Update to Timetable

The Company wishes to advise Shareholders that, given the minimum subscription requirement of 467,263 Open Offer Shares, the London Stock Exchange will not be marking the Company's Shares as ex-entitlement.

Accordingly, the relevant date for all entitlements under the Open Offer will be the Record Date for the Placing and Open Offer, being close of business on 22 January 2013.

All capitalised terms used in this announcement are as set out in the Placing and Open Offer document posted to Shareholders today.

Enquiries: