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Cove Energy plc (“the Company” or “Cove”, AIM:COV), the AIM quoted upstream oil and gas company, announces that the Company’s Annual Report and Accounts for the year ended 31 December 2010 and Notice of AGM have been distributed to shareholders and are available online at the Company’s website http://www.cove-energy.com/.

The Annual General Meeting of the Company will be held at Claridges Hotel, Brook Street, Mayfair, London W1K 4HR on 27 June 2011 at 11:00 a.m.

Download Annual Report 2010

Download Notice of AGM and Proxy

- Ends    -

For further information, please contact:

Cove Energy plc
John Craven, CEO c/o Billy Clegg  Tel: +44 (0)20 7831 3113

Cenkos Securities
Jon Fitzpatrick Tel: +44 (0)20 7397 8900
Ken Fleming Tel: +44 (0)131 220 6939

Financial Dynamics
Billy Clegg / Edward Westropp Tel: +44 (0)20 7831 3113

At the request of the Company, trading on AIM for the under-mentioned securities has been temporarily suspended from 18/08/2009 7:55am pending an announcement and publication of an admission document.

If you have any queries relating to the above, please contact the Company’s nominated adviser, Cenkos Securities plc, on 020 7397 8900.

For filings with the FSA include the annex

For filings with issuer exclude the annex

For notes on how to complete form TR-1 please see the FSA website.

Cove Energy plc , announces that following the admission and issuance of
35,000,000 Ordinary Shares of 1p each on 3 July 2009, the Company’s total issued share capital will consist of 58,348,334 of Ordinary Shares, with voting rights (one vote per ordinary share).

Cove Energy does not hold any ordinary shares in treasury. The figure of 58,348,334 Ordinary Shares may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Services Authority’s Disclosure and Transparency Rules.

For further information, please contact:

Note to Editors:

Cove Energy’s strategy is to identify and acquire oil and gas assets in the early phase of the upstream life-cycle and mature them into marketable opportunities for the medium and larger oil and utility companies. The Company’s initial focus will be on Africa and the Mediterranean. The Company will be “opportunity driven” but the objective is to target assets in areas where larger oil companies are not yet active or have overlooked opportunities. Cove Energy will also seek out assets owned by companies in distress as a result, for instance, of the current global economic climate.

The Company intends to operate with a minimum level of staffing but with a larger experienced “virtual” skills-pool from where it can draw on relevant experience on a case-by-case basis. The Company intends at the outset to partner and joint venture with investors and associates who will support Cove Energy with commercial skills and influence in areas where the Company intends to grow its business.

For filings with the FSA include the annex

For filings with issuer exclude the annex

For notes on how to complete form TR-2 please see the FSA website.

Cove Energy plc is pleased to announce that following its AGM held earlier today all resolutions were duly passed.

With regards to the proposed changes to the Board, company strategy and change of name as announced on 27 May 2009, the Company would like to confirm that shareholder approval was unanimously given. Following this, the Board is pleased to announce that effective from the market open on Friday 3 July 2009, the Company will be known as Cove Energy plc, with the ticker ‘COV’.

Cove Energy’s renewed operational focus and strategy is to identify and acquire oil and gas assets in the early phase of the upstream life-cycle and mature them into marketable opportunities for the medium and larger oil and utility companies. The Company’s initial focus will be on Africa and the Mediterranean. The Company will be “opportunity driven” but the objective is to target assets in areas where larger oil companies are not yet active or have overlooked opportunities. Cove Energy will also seek out assets owned by companies in distress as a result, for instance, of the current global economic climate.

Michael Blaha, Chairman of Cove Energy plc, said:

“We are delighted to have received unanimous shareholder support for our renewed strategic direction, name change and Board. Following the announcement of our successful placing of shares to raise £4.2m on 29 June 2009, we are now in the position to realise our new strategic direction and look forward to updating the market as to our progress.”]

For further information, please contact:

Cove Energy plc
John Craven, CEO Tel: + 353 1 662 4351
Michael Nolan, Company Secretary

Cenkos Securities
Jon Fitzpatrick / Ken Fleming Tel: +44 (0)131 220 6939

Financial Dynamics
Billy Clegg / Edward Westropp Tel: +44 (0)20 7831 3113

Note to Editors:

Cove Energy’s strategy is to identify and acquire oil and gas assets in the early phase of the upstream life- cycle and mature them into marketable opportunities for the medium and larger oil and utility companies. The Company’s initial focus will be on Africa and the Mediterranean. The Company will be “opportunity driven” but the objective is to target assets in areas where larger oil companies are not yet active or have overlooked opportunities. Cove Energy will also seek out assets owned by companies in distress as a result, for instance, of the current global economic climate.

The Company intends to operate with a minimum level of staffing but with a larger experienced “virtual” skills-pool from where it can draw on relevant experience on a case-by-case basis. The Company intends at the outset to partner and joint venture with investors and associates who will support Cove Energy with commercial skills and influence in areas where the Company intends to grow its business.

Placing to raise £4.2 million of new funds

Highlights

• Placing with institutional and other investors of 35,000,000 Placing Shares at 12p per
  Placing Share to raise £4.2 million (before expenses);
• Enables Cove Energy to actively engage in its strategy of identifying and acquiring distressed and other upstream oil and gas assets;
• Memorandum of Understanding with Quantic Limited to form a new joint venture company to facilitate Cove Energy with access to financing and asset opportunities in Africa and the Mediterranean (including the Lebanon and Cyprus); and
• Placing subscription by, and technical services agreement entered into with, subsidiary of Petroleum Geo-Services ASA, the Oslo-listed geophysical company and possessor of the world’s most extensive multi-client data library.

Cove Energy plc, is pleased to announce that it is placing 35,000,000 new ordinary shares of 1 pence each in the Company (the “Placing Shares”) with institutional and other investors at a price of 12 pence per new ordinary share (the “Placing Price”) to raise £4.2 million (before expenses) (the “Placing”). The net proceeds of the Placing of approximately £3.9 million will be used primarily to fund the Company’s business development requirements and to enable the Company to progress its renewed strategy to identify and acquire oil and gas assets in the early phase of the upstream life- cycle and mature them into marketable opportunities for the medium and larger oil and utility companies.

In connection with the Placing, certain Executive and Non-Executive Directors have agreed to subscribe for a total of 2,757,666 Placing Shares at the Placing Price. Their respective participation and resultant holding, following the Placing, is as detailed below:

The Placing Shares, which represent approximately 66.7 per cent. of the enlarged issued share capital of the Company, will rank pari passu in all respects with the existing ordinary shares in the Company. Application has been made for the Placing Shares to be admitted to trading on AIM and it is expected that dealings will commence on 3 July 2009.

The Company is also pleased to announce that it has entered into a Memorandum of Understanding with Quantic Limited (“Quantic Group”), a private investment group operating in certain areas of the oil and gas sector and merchant banking across Africa and the Middle East, to form a joint venture company, Cedar Resources Limited (“Cedar”). The purpose of this arrangement is to facilitate access to finance and asset opportunities in the Lebanon and Cyprus. Cove Energy expects Cedar, which will be owned 20 per cent. by the Company and 80 per cent. by Quantic Group, to be incorporated and operational in or around 4-6 weeks. On incorporation, Quantic Group will be granted 3,000,000 warrants to subscribe for Ordinary Shares at an exercise price of 1p per Ordinary Share and a further 6,000,000 warrants to subscribe for Ordinary Shares at an exercise price of 22p per Ordinary Share (together the “Warrants”). The Warrants will be exercisable at any time up to 18 months from the date of grant. Any Ordinary Shares issued as a result of the exercise of the Warrants will, from the date of issue, be subject to a 12 month lock-in agreement between the Company, Quantic Group and Cenkos Securities Plc. In addition, Quantic Group’s principal management have agreed to subscribe for 3,000,000 Placing Shares at the Placing Price.

Quantic Group owns 70 per cent. of Gazprombank Invest (MENA) in Beirut, Lebanon, with the balance of 30 per cent. owned by OAO Gazprom. Quantic Group is a group comprising various companies created with the intention of forming the core of an oil organization active in all levels of activities traditionally associated with companies present in this sector – production, trading, refining, distribution and financing (www.quanticoil.com). OAO Gazprom is the world’s largest gas company focused on geological exploration, production, transmission, storage, processing and marketing of gas and other hydrocarbons (www.gazprom.com).

Further, the Company announces that it has also entered into a technical services agreement with PGS Ventures AS (“PGS Ventures”), a 100 per cent. subsidiary of Petroleum Geo-Services ASA (”PGS”). PGS is a focused geophysical company which provides a broad range of seismic and reservoir services, including acquisition, processing, interpretation, and field evaluation. PGS also possesses the world’s most extensive multi-client data library. PGS operates on a worldwide basis with headquarters at Lysaker, Norway. PGS Ventures is the investment arm of PGS, with a remit to provide PGS data and services in return for equities and minority ownership positions in E&P assets (www.pgs.com).

Under the terms of this agreement, the Company has engaged the PGS group for the provision of seismic data processing and interpretation services, with a minimum commitment of US$3 million by 30 June 2011, on a take or pay basis. The Company has also agreed to purchase from the PGS group certain seismic data, as well as providing the PGS group with a right of first refusal, subject to applicable law and regulation, to provide the Company with all of its seismic acquisition, data processing and interpretation requirements going forwards. All data and services are to be provided on demonstrable standard PGS pricing terms, and otherwise on PGS group terms and conditions. The agreement also provides that PGS Ventures will be offered the opportunity to contribute up to 50 per cent. of the costs of purchase of such data and services, by way of subscription for new ordinary shares or other securities in the Company, on terms to be agreed. Under the agreement, PGS Ventures also has the right to appoint a director to the board of the Company if its holding of ordinary shares at any time equals or exceeds 20 per cent. of the total ordinary shares in issue. The agreement may be terminated by either party giving notice to the other at any time after the fifth anniversary of the date of the agreement.

In addition, PGS Ventures has agreed to subscribe for 8,333,333 Placing Shares at the Placing
Price.

The relationships and arrangements referred to above could provide Cove Energy with access to potential additional funding routes and exposure to asset deals, both of which are planned to assist the Company to realise its strategy in the Mediterranean (including the Lebanon and Cyprus) and in Africa.

Commenting on the Placing, John Craven, CEO of Cove Energy, said:

“We are very pleased to announce this successful fundraising; which means, alongside our existing cash resources, we are well capitalised to actively progress our new strategy, to identify and acquire undervalued oil and gas exploration and production assets in Africa and Eastern Mediterranean.

The signing of the MOU with Quantic Group is also a significant move for the business, which gives us potential exposure to the highly prospective Lebanese and Cypriot licence areas with the financial backing and stability of Gazprombank Invest (MENA) as well as their influence in North

African oil and gas activities. The fact that PGS has also participated in the Placing gives us great confidence for any involvement we might have in exploration in North Africa, the Lebanon or Cyprus, as they hold a large amount of the technical seismic and geological data on the area.

Following the Placing we are now well financed to start implementing our strategy, with a senior, experienced Board and access to further capital. This gives us a sound platform from which we can start to deliver on our strategic plan. We look forward to updating the Market as to our progress as soon as is practicable.”

For further information, please contact:

Cove Energy plc
John Craven, CEO Tel: + 353 1 662 4351
Michael Nolan, Executive Director

Cenkos Securities
Jon Fitzpatrick / Ken Fleming Tel: +44 (0)131 220 6939

Financial Dynamics
Billy Clegg / Edward Westropp Tel: +44 (0)20 7831 3113

Note to Editors:

Cove Energy plc is an AIM traded resource company. It was founded in 1993 to secure and advance platinum group metal projects in Sweden and, following a strategic review and Board changes in June 2009, the business will be changing its name to Cove Energy plc at its AGM on 2 July 2009 and has changed its operational focus.

Cove Energy’s strategy is to identify and acquire oil and gas assets in the early phase of the upstream life-cycle and mature them into marketable opportunities for the medium and larger oil and utility companies. The Company’s initial focus will be on Africa and the Mediterranean. The Company will be “opportunity driven” but the objective is to target assets in areas where larger oil companies are not yet active or have overlooked opportunities. Cove Energy will also seek out assets owned by companies in distress as a result, for instance, of the current global economic climate.

The Company intends to operate with a minimum level of staffing but with a larger experienced “virtual” skills-pool from where it can draw on relevant experience on a case-by-case basis. The Company intends at the outset to partner and joint venture with investors and associates who will support Cove Energy with commercial skills and influence in areas where the Company intends to grow its business.

Cove Energy , the natural resources company, announces that it has today posted to shareholders the Annual Report and Accounts for the year ended 31
December 2008 together with the Notice of the Annual General Meeting to be held at

11.30am on Thursday 2 July 2009 at Brown’s Hotel, Albemarle Street, Mayfair, London W1S 4BP. Copies of the Annual Report and Accounts are available on the Company’s website at: www.cove-energy.com.

For further information, please contact:

Cove Energy plc, an AIM quoted, UK registered public company, is pleased to announce the appointment of a new Non- Executive Director to the Company and proposed Board Changes in line with its recently announced strategy to focus on oil and gas exploration and production assets.

• Appointment of Ivan B. Murphy as Non-Executive Director
• Tom O’Gorman and Michael Nolan to step down from Board
• Michael Nolan to continue as Company Secretary

Board Changes

Further to the Company’s stated intention since achieving its AIM quotation in May 2005 of formalising an oil and gas division and following on from an announcement by the Company on the 27th of May 2009, Cove Energy is pleased to announce today that Ivan B. Murphy has been appointed as Non-Executive Director with immediate effect. Ivan is currently a senior executive with Gazprombankinvest, an investment bank owned by Gazprom and Quantic.

Gazprom (www.gazprom.com) is the world’s largest gas company basically focused on geological exploration, production, transmission, storage, processing and marketing of gas and other hydrocarbons. Quantic is a group comprising various companies created with the intention of forming the core of an oil organization active in all levels of activities traditionally associated with companies present in this sector – production, trading, refining, distribution and financing (www.quanticoil.com).

Ivan B. Murphy (36) has a degree in Economics from University College Cork, Ireland and has 15 years experience in capital markets. He started his career at Aberdeen Asset Management PLC the FTSE 250 listed global investment manager. He worked with Aberdeen in London, Miami and Singapore before returning to Ireland to become Managing Director of Aberdeen Asset Management Ireland Limited. In 2003 he left Aberdeen to work as a consultant to a number of Irish and UK plc’s assisting them in the disposal of asset management and life insurance assets. In 2005 he was one of the founders of Fairfax PLC a London based investment bank that listed more than 12 investment companies on AIM and the main market of the LSE, raising more than US$1 billion of equity from institutional clients. At Fairfax, he focussed on origination and developing the business in the Far East. After leaving Fairfax in 2008 he acted as a consultant to US and Ireland based property developer Shelbourne Developments negotiating with potential partners in China and the Middle East on the financing and construction of the Chicago Spire project.

In addition to this Tom O’Gorman and Michael Nolan have decided to step down from the Board at the Company’s AGM to be held on 2 July 2009. Michael Nolan will continue as Company Secretary. The Board expresses its sincere appreciation to both Tom and Michael for their work and commitment to the Company since its formation in 2003.

Commenting on the Board appointment Michael Blaha, Non-Executive Chairman said:

“I am very pleased to welcome Ivan to the Board of the Company; he brings with him a wealth of experience and skills from all aspects of capital markets, which will become invaluable to balance to the Board as we drive our ambitious strategy forward. He will be a great asset to the Company in working with our appointed advisors in terms of future transactions and business development.

“I would also like to take the opportunity to thank both Michael Nolan and Tom O’Gorman for all their service and in recent months their help in re-positioning the Company for a very exciting future. Michael Nolan continuing as Company Secretary is a key support function for the Board and will ensure it communicates in a professional and timely manner with all our shareholders, advisors and other interested parties’

Ivan B. Murphy, newly appointed Non-Executive said:

“I am delighted to have joined the Board and I am very excited with the opportunity that this well structured Company offers at this particular point in the upstream oil and gas cycle’

Information on Ivan B. Murphy:

Mr. Murphy has a beneficial interest in 300,000 ordinary shares representing 1.3% of the share capital of the Company.
There are no other details specified by schedule 2 paragraph (g) of the AIM and IEX Rules to be disclosed in relation to Mr. Murphy.

For further information, please contact:

Cove Energy plc
John Craven, CEO,Tel: + 353 1 662 4351

Cenkos Securities
Jon Fitzpatrick / Ken Fleming, Tel: +44 (0)131 220 6939

Financial Dynamics
Billy Clegg / Edward Westropp, Tel: +44 (0)20 7831 3113

Note to Editors:
Cove Energy plc is an AIM quoted natural resources company. It was founded in 2003 to secure and advance platinum group metal projects in Sweden and over the past 24 months it has been active in expanding its area of activity into the oil and gas sector.

Introduction

I am delighted to report that on 27 May 2009, the Board of Cove Energy announced a number of “transformational developments”. These developments included my appointment as Non-Executive Chairman and the appointment of experienced oil industry executive, John Craven, as CEO, the adoption of a new oil and gas strategy, a proposed change of name to Cove Energy plc (”Cove Energy”) and the appointment of a new Nominated Adviser and Broker. I am now satisfied that the building blocks are in place to allow the Company to grow and prosper after spending a number of years at a low level of activity whilst the Board searched for the right combination of personnel and opportunity to build a sustainable and coherent strategy in order to create value for shareholders.

Board Changes

The Board announced on 27 May 2009 my appointment as Non-Executive Chairman and that of John Craven, founder and until recently CEO of Petroceltic International plc, as Chief Executive Officer, both appointments with immediate effect.

Tom O’Gorman, the outgoing Non-Executive Chairman, will continue on the Board as a Non-Executive Director. Brian Barrett, a founding Director, is stepping down from the Board and retiring as Company Secretary. The Board expresses its sincere appreciation to Brian for his work and commitment to the Company since its formation in 2003. Michael Nolan will act as Company Secretary going forward.

Iam a Petroleum Engineer and have spent my career working in the Royal Dutch Shell Group (“Shell”). I am currently Country Chairman for Shell in Algeria, prior to which I held the positions of Director External Relations for EP Africa from 2003-2005, Vice President EP for Russia (Salym, Sakhalin) from 2001 to 2003 and Vice President Iran (Soroosh and Nowrooz) from 1998 to 2001. Earlier in my Shell career he worked at the Shell head offices in The Hague from where he developed business in China, Iran and Russia. I have also held senior roles in the Philippines, Syria, Thailand and the UK. I graduated in 1980 with an MSc in Chemistry from Universiteit van Amsterdam.

John Craven is a petroleum geologist with thirty five years experience in senior technical and commercial roles in upstream oil and gas exploration and production companies. Prior to joining Cove Energy, he was founder and Chief Executive of AIM and IEX quoted, African and Mediterranean focussed, exploration company, Petroceltic International plc (“Petroceltic”). Petroceltic grew under his direction and stewardship to a business with a diversified portfolio of exploration and appraisal projects in Italy, Algeria and Tunisia.

In addition to the above, John brings with him a deep understanding of the investment community and a solid reputation earned following 35 years of delivery to shareholders.

Mr Craven has an MSc in Petroleum Geology from the Royal School of Mines in London and an MBA from Queens University in Belfast.

Prior to Petroceltic, he held senior management and Director roles in a number of quoted and private oil companies including Gulf Oil, Dana Petroleum and Vanco Energy.

New Oil and Gas Strategy

Cove Energy’s strategy is to identify and acquire oil and gas assets in the early phase of the upstream life-cycle and mature them into marketable opportunities for the medium and larger oil and utility companies. The Company’s initial focus will be on Africa and the Mediterranean. The Company will be “opportunity driven” but the objective is to target assets in areas where larger oil companies are not yet active or have overlooked opportunities. Cove Energy will also seek out assets owned by companies in distress as a result, for instance, of the current global economic climate.

The Company intends to operate with a minimum level of staffing but with a larger experienced “virtual” skills-pool from where it can draw on relevant experience on a case-by-case basis. The Company intends at the outset to partner and joint venture with investors and associates who will support Cove Energy with commercial skills and influence in areas where the Company intends to grow its business.

The strategy will be implemented and driven jointly by John Craven and Michael Blaha. A management team commensurate with the escalating requirements of the business is being assembled and further appointments will be confirmed over the coming months.

The Company continues to hold the existing Swedish mineral licence in good standing, without significant financial obligations, and the Company will look to commercialise the mineral assets of Cove Energy AB in due course.

The Company has maintained a core treasury, in excess of £1 million, since late 2006. The Directors are aware that investments in new projects will require additional capital and funding options will be continually monitored by the Board, in tandem with the development of the new strategy.

Change of Name

The Directors will propose to shareholders at the forthcoming Annual General Meeting of the Company that the Company changes its name to Cove Energy plc in order to reflect the new oil and gas strategy. A new website www.cove-energy.com is under construction.

Annual General Meeting

The Annual General Meeting will be held at Brown’s Hotel London 11.30AM on Thursday 2nd July 2009. The Notice and resolutions in respect of this Annual General Meeting will be dispatched shortly along with the Annual Report and Accounts for the financial year ended 31 December 2008.

Appointment of new Nominated Adviser and Broker

The Board appointed London based Cenkos Securities plc as the Company’s AIM Nominated Adviser and Broker on 27 May 2009.

The Company is a UK registered company and, with the appointment of a UK based Nominated Adviser and Broker, the Board has requested that the Irish Stock Exchange cancel the quotation of the Company’s ordinary shares on the IEX Market with effect from 26 June 2009. The Company’s Ordinary Shares will continue to be traded on AIM.

Swedish Mineral Properties

Following an independent review of the licence blocks held by the Company since 2004, the Company decided in August 2007 to reduce its existing ground holdings and it has also taken the opportunity to acquire a new property.

The following Table set outs the revised Claim Table following the payments in August 2007 to the Swedish Mining Directorate (Sw: Bergsstaten) of the relevant licence fees and renewal fees, as applicable:

Glossary of symbols: Au - Gold, Cu - Copper, Fe - Iron.

The Company continues to hold the existing Swedish mineral licence in good standing, without significant financial obligations, and the Company will look to commercialise the mineral assets of Cove Energy AB, a wholly owned subsidiary of the Company, in due course.

Financial Results

The net loss for the year before tax amounted to £321, 579 (2007 profit £15,006). The main component in the loss for the year was an impairment charge taken against the carrying values of the Swedish mineral assets of £222,156 (2007: Nil). Net interest received in the year decreased to £55,643 compared to £71,047 in the previous period. This loss, in addition to the impairment charge included administration costs and other costs incurred in investigating new oil and gas opportunities under the 2008 arrangements with Cheliston Consultancy Limited, now terminated.

Total assets at 31 December 2008 of E1, 278,233 (2007: £1,594,463) included £1,133,655 in cash balances (2007: £1, 236,930).

Annual Report

The Directors’ Report and Financial Statements for the year to 31 December 2008 will be posted to shareholders in the near future and copies can be obtained on the Company’s web site at www.cove-energy.com.

I am pleased that we are on the cusp of creating a new oil and gas company with Cove Energy plc and I would like to thank current and former Directors and all those who have assisted us in any way to arrive at this pivotal juncture in the Company’s history.

Michael Blaha
Chairman

8 June 2009

Cove Energy Plc

The results of the year all arise on continuing operations.

Cove Energy Plc

Cove Energy Plc

Cove Energy Plc

Group Statement of Changes in Equity
for the year ended 31 December 2008.

BACKGROUND
Lapp Plat plc and its subsidiary are involved in development of Oil and Gas Exploration and Minerals Exploration projects. The company is a public limited company incorporated in England. The Group has operation in Sweden and considers pursuing projects on a world wide basis. The company’s shares are quoted on the AIM market of the London Stock Exchange (LPP.L) and on the IEX market of the Irish Stock Exchange (LPC.IR).

STATEMENT OF COMPLIANCE AND BASIS OF PREPARATION

As permitted by the European Union and in accordance with AIM and IEX Rules, the Group financial statements have been prepared in accordance with International Financial Reporting Standards (IFRSs) and their interpretations issued by the International Accounting Standards Board (IASB) as adopted by the EU (IFRS). IFRSs adopted by the EU as applied by the company and the Group in the preparation of this financial statements are those that were effective at 31 December 2008.

The preliminary statement is not the company’s statutory accounts. The statutory accounts for the year ended 31 December 2008 have been approved by the Directors and have received an unqualified audit opinion that does emphasize that the realisation of the carrying value of intangible assets (£88,822) is dependent on a number of factors some of which are not with in control of the company.

The full Annual Report 2008 of the company will be avialable on the Cove Energy plc web sitewww.cove-energy.com.

FOR FURTHER INFORMATION PLEASE CALL:

Cove Energy plc

Michael Blaha, Chairman Tel: + 353 1 662 4351

John Craven, CEO

Cenkos Securities

Jon Fitzpatrick / Ken Fleming Tel: + 44 (0)131 220 6939

Financial Dynamics

Billy Clegg / Edward Westropp Tel: +44 (0)20 7831 3113

• appointment of Michael Blaha as Non-Executive Chairman
• appointment of John Craven as Chief Executive Officer
• roll out of new oil and gas strategy
• change of name to Cove Energy plc
• appointment of Cenkos Securities as Nominated Adviser and Broker

Cove Energy plc, an AIM quoted, UK registered public company is pleased to announce a number of transformational developments in the Company.

Board Changes

Further to the Company's stated intention since achieving its AIM quotation in May 2005 of formalising an oil and gas division, and following dedicated work by the Board of Directors (Board) during the course of the past 18 months, Cove Energy is pleased to announce today that Michael Blaha, currently Country Chairman for Shell in Algeria, is joining the Board as Non-Executive Chairman and John Craven, founder and until recently CEO of Petroceltic International plc, is joining as Chief Executive Officer. Both of these Board appointments will take effect immediately.

Tom O'Gorman, the Company's current Non-Executive Chairman, will continue on the Board as a Non-Executive Director. Brian Barrett, a founding Director, is stepping down from the Board and retiring as Company Secretary. The Board expresses its sincere appreciation to Brian for his work and commitment to the Company since its formation in 2003. Michael Nolan will act as Company Secretary going forward.

Michael Blaha (54), is a Petroleum Engineer with twenty nine years industry experience, his entire career spent working in the Royal Dutch Shell Group (Shell). He is currently Country Chairman for Shell in Algeria, prior to which he held the positions of Director External Relations for EP Africa from 2003-2005, Vice President EP for Russia (Salym, Sakhalin) from 2001 to 2003 and Vice President Iran (Soroosh and Nowrooz) from 1998 to 2001. Earlier in his Shell career he worked at the Shell head offices in The Hague from where he developed business in China, Iran and Russia. He has also held senior roles in the Philippines, Syria, Thailand and the UK.

Mr Blaha has an MSc in Chemistry from Universiteit van Amsterdam.

John Craven (59) is a petroleum geologist with thirty five years experience in senior technical and commercial roles in upstream oil and gas exploration and production companies. Prior to joining Cove Energy, he was founder and Chief Executive of AIM and IEX quoted, African and Mediterranean focussed, exploration company, Petroceltic International plc (Petroceltic). Petroceltic grew under his direction and stewardship to a business with a diversified portfolio of exploration and appraisal projects in Italy, Algeria and Tunisia.

In addition to the above, John brings with him a deep understanding of the investment community and a solid reputation earned following 35 years of delivery to shareholders.

Mr Craven has an MSc in Petroleum Geology from the Royal School of Mines in London and an MBA from Queens University in Belfast.

Prior to Petroceltic, he held senior management and Director roles in a number of quoted and private oil companies including Gulf Oil, Dana Petroleum and Vanco Energy.

Oil and Gas Strategy

Cove Energy's strategy is to identify and acquire oil and gas assets in the early phase of the upstream life-cycle and mature them into marketable opportunities for the medium and larger oil and utility companies. The Company's initial focus will be on Africa and the Mediterranean. The Company will be opportunity driven, but the objective is to target assets in areas where larger oil companies are not yet active or have overlooked opportunities. Cove Energy will also seek out assets owned by companies in distress as a result, for instance, of the current global economic climate.

The Company intends to operate with a minimum level of staffing but with a larger experienced virtual skills-pool from where it can draw on relevant experience on a case-by-case basis. The Company intends at the outset to partner and joint venture with investors and associates who will support Cove Energy with commercial skills and influence in areas where the Company intends to grow its business.

The strategy will be implemented and driven jointly by John Craven and Michael Blaha. A management team commensurate with the escalating requirements of the business is being assembled and further appointments will be confirmed over the coming months.

The Company continues to hold the existing Swedish mineral licence in good standing, without significant financial obligations, and the Company will look to commercialise the mineral assets of Cove Energy AB in due course.

The Company has maintained a core treasury, in excess of £1 million, since late 2006. The Directors are aware that investments in new projects will require additional capital and funding options will be continually monitored by the Board, in tandem with the development of the new strategy.

Change of Name

The Directors will propose to shareholders at the forthcoming Annual General Meeting of the Company that the Company changes its name to Cove Energy plc. The Notice and resolutions in respect of this Annual General Meeting will be dispatched shortly along with the Annual Report and Accounts for the financial year ended 31 December 2008. The Directors plan that the Annual General Meeting will be held in late June or early July.

Appointment of new Nominated Adviser and Broker

The Board are pleased today to announce the appointment of Cenkos Securities plc as its AIM Nominated Adviser and Broker with immediate effect.

The Company is a UK registered company and, with the appointment of a UK based Nominated Adviser and Broker, the Board has requested that the Irish Stock Exchange cancel the admission of the Company's ordinary shares to trading on the IEX Market with effect from 26 June 2009. The Company's Ordinary Shares will continue to be traded on the AIM Market.

Substantial Shareholder Notification

The Company was notified on 25 May 2009 of the following interests in the
Company's ordinary shares:

Information on Frantisek Michael Josef Blaha

Mr. Blaha has no interest in any shareholding (including interests of connected parties) in the share capital of the Company.

Information on John Edward Craven

Mr Craven has an interest in 1,750,000 ordinary shares representing 7.5% of the share capital of the Company.

There are no other details specified by schedule 2 paragraph (g) of the AIM and IEX Rules to be disclosed in relation to either Mr Blaha or Mr Craven.

Commenting on the Board appointments and roll out of the oil and gas strategy, Tom O'Gorman, outgoing Chairman and continuing Non-Executive Director commented:

"I am very pleased to welcome Michael and John to the Board of the Company. Michael Blaha, with a long and successful career with Shell will provide invaluable stewardship and industry presence as we work to build an agile, entrepreneurial and focussed oil and gas entity. John Craven has shown a unique ability to identify, assess and secure highly attractive oil and gas exploration acreage and opportunities, on very favourable terms, throughout his career and I believe that this ability together with his extensive industry experience and contact base will drive Cove Energy forward. With such a high class team on Board, we are in a very good position to take advantage of the significant opportunity that currently exists within the oil and gas upstream arena."

John Craven, newly appointed CEO said:

"I am delighted to have joined the Company and have a clear strategy to add value to shareholders. The team is well networked in the oil and gas industry and we are already aware of a number of assets which will become available to us in the near term. I believe that there are unprecedented opportunities currently available in the sector and with the pool of senior industry figures available to me and my colleagues we have the ambition to rapidly assemble a portfolio of projects and interests that will position Cove Energy as an outstanding organisation in the years and months ahead."

For further information, please contact:

Note to Editors:
Cove Energy plc is an AIM quoted natural resources company. It was founded in 2003
to secure and advance platinum group metal projects in Sweden and over the past
24 months it has been active in expanding its area of activity into the oil and gas
sector.

COVE ENERGY plc announces that it has issued 1,000,000 new ordinary shares of Stg1.0p each (“Ordinary Shares”) in the capital of the Company to satisfy certain professional service and consultancy liability obligations (“Share Payment”).

Application has been made to the London Stock Exchange and the Irish Stock Exchange for the new Ordinary Shares to be admitted to trading on the AIM Market and the IEX Market.

Following the Share Payment the issued share capital of the Company has increased to 23,348,334 (“Enlarged Share Capital”). In addition 195,000 share options are issued but not exercised.

250,000 Ordinary Shares have been issued to the beneficial interest of Tom O’Gorman, Chairman of the Company. 500,000 Ordinary Shares have been issued to JS Consult Limited Pension Fund, of which Michael Nolan, Director of the Company, is the beneficiary. Both these transactions occurred on 27 February 2009.

As a result of the Share Payment, Tom O’Gorman, has an interest in 3,987,166 Ordinary Shares representing 17.08% of the Enlarged Share Capital of the Company and Michael Nolan, has an ultimate beneficial interest in 1,000,000 Ordinary Shares representing 4.27% of the Enlarged Share Capital of the Company.

For further information please contact:

Michael Nolan, Director + 353 87 242 9221

Cove Energy plc announces today that Peter Worthington and Paul Sweeney are stepping down as non-Executive Directors of the Company with immediate effect.

For further information please contact:

Michael Nolan, Director + 353 87 242 9221

Cove Energy plc has been informed by Handsel Limited that it no longer has an interest in the shares of the Company.

Cove Energy plc (“Cove Energy or the “Company”) announces that on 6 February 2009, it received notification from Brian Barrett, a director of the Company, that on 6 February 2009 he exercised options with an exercise price of Stg5.0p over 80,000 ordinary shares of Stg1.0p each in the capital of the Company (“Ordinary Shares”).

Application has been made to the London Stock Exchange and the Irish Stock Exchange for the new Ordinary Shares to be admitted to trading on the AIM Market and the IEX Market.

Following this exercise the issued share capital of the Company has increased to 22,348,334. 195,000 share options are issued but not exercised.

Following the above exercise, Brian Barrett has a beneficial interest in 80,000 Ordinary Shares.

For further information please contact:

Michael Nolan, Director + 353 87 242 9221