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.