EnCore Oil ..

RNS Number:0669O
EnCore Oil PLC
18 December 2006



PRESS RELEASE

For immediate release: 18 December 2006


For publication in the United Kingdom only. Not for release, publication or
distribution in or into any other jurisdiction including the United States,
Canada, Australia, South Africa, the Republic of Ireland or Japan.


EnCore Oil plc ("EnCore")

Placing & Appointment of Joint Broker


EnCore Oil plc (LSE:EO.) is pleased to announce the placing of 29,166,666 new
ordinary shares of 5p each (the "Placing Shares") at a price of 24 pence per
share (the "Placing"). The Placing will raise approximately #7 million (before
expenses).

The Placing has been undertaken to provide additional funds for EnCore's
expansion plans and increasing UK work programmes.

The Placing Shares will be issued under the existing authorities granted to the
Directors The Placing is conditional on the placing agreement, which has been
entered into by the Company, Hanson Westhouse LLP and KBC Peel Hunt (the
"Placing Agreement"), becoming, or being declared, unconditional in accordance
with its terms. The Placing Agreement is conditional, inter alia, on admission
of the Placing Shares to trading on AIM occurring by not later than 8.00 a.m. on
21 December 2006 (or such later time and/or date as the Company, Hanson
Westhouse LLP and KBC Peel Hunt may agree but in any event not later than 5.30
p.m. on 12 January 2007).

EnCore also announces the appointment of KBC Peel Hunt ("KBC") as joint broker
to EnCore with immediate effect. KBC is an integrated securities house focused
exclusively on the small and mid-cap sector. KBC consistently ranks as one of
the top traders of small to medium-sized companies in the UK market. Hanson
Westhouse LLP continues as the Company's nominated adviser and joint broker.

Following the Placing, there will be 234,051,952 ordinary shares of 5p each in
issue. Application has been made for admission to AIM of the Placing Shares,
together with an additional 179 ordinary shares which were issued as a result of
the treatment of roundings in the calculation of the shares issued by the
Company as consideration to shareholders in the EnCore group of companies in
March 2006. Admission of the shares for which application has been made is
expected to take place on 21 December 2006.

Alan Booth, Chief Executive Officer, commented:

"We are very pleased to receive the support of both existing and new
institutional shareholders for our expanding portfolio. We believe the financial
capacity to participate in work programmes will be of increasing importance in
attracting and progressing the best opportunities."

For further information, please contact:

EnCore Oil plc www.encoreoil.co.uk
Alan Booth, Chief Executive Officer +44 (0)20 7224 4546
Eugene Whyms, Chief Financial Officer

Aquila Financial Limited www.aquila-financial.com
Peter Reilly +44 (0)20 7202 2601