COP Circle Oil

TIDMCOP

RNS Number : 3425I

Circle Oil PLC

24 March 2015

24 March 2015

Circle Oil Plc

("Circle" or the "Company")

Directorate Change

Circle Oil Plc (AIM: COP), the Middle East and North Africa focused oil and gas exploration, development and production company, wishes to announce that Professor Chris Green has now resigned as a Director and as Chief Executive Officer of the Company. Professor Green had, as already announced on 11 November 2014, notified the Company of his intention to step down from the Board and resign as Chief Executive Officer. He will continue to provide his services to the Company until 31 October 2015.

The Company also announces that the search for a new Chief Executive Officer to replace Professor Green is now well advanced and an appointment is expected in the near future.

For further information contact:

Circle Oil Plc (+44 20 7638 9571)

Steve Jenkins, Chairman

Investec (+44 20 7597 5970)

Chris Sim

George Price

James Rudd

Liberum Capital Limited (+44 20 3100 2222)

Clayton Bush

Citigate Dewe Rogerson (+44 20 7638 9571)

Martin Jackson

Shabnam Bashir

Murray Consultants (+353 1 498 0300)

Joe Heron

Pat Walsh

Notes to Editors

Circle Oil Plc (AIM: COP) is an international oil & gas exploration, development and production company holding a portfolio of assets in Morocco, Tunisia, Oman, and Egypt with a combination of producing assets, low-risk, near-term production opportunities, and significant upside exploration 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 licensed acreage of any company in Oman.

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 opt to use its own expertise to appraise reserves and bring assets into production. Through either route the objective would be generation of sustained cash flow for further investment.

Further information on Circle is available on its website at www.circleoil.net.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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