Gamma/Spaniards Amalgamation Agreement

DEO Petroleum plc, the oil and gas development and production company focused on the UK Continental Shelf (“UKCS”) region of the North Sea, is pleased to announce that the amalgamation agreement to combine the Licence P218 Block 15/21a Gamma Sub Area (“Gamma”) and Block 15/21g (“Spaniards”) areas has been finalised. The parties to the agreement will now effect the relevant transfer documentation. A firm commitment well is expected to be drilled by Encore (Operator) in the third quarter of 2012.

Operational update and Directors Dealing

DEO Petroleum plc, the oil and gas development and production company focused on the UK Continental Shelf (“UKCS”) region of the North Sea, is pleased to announce the following operational update.

Perth Field Update

DEO Petroleum plc is pleased to announce that its wholly owned subsidiary DEO U.K. Limited, along with partners Atlantic Petroleum UK Limited & Faroe Petroleum (U.K.) Limited, has agreed, subject to regulatory approvals, to assume Maersk Oil U.K. Limited’s 19.11% interest in the Perth field.