Oil & Gas Exploration and Production

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London Stock Exchange

5:49am 3/10/2010


ACTUALITES

Talisman Energy and San Leon Sign Joint Venture Agreement

San Leon Energy PLC ('San Leon' or 'The Company') is pleased to announce that its decision to enter into the Baltic Gas Shale play in Poland has today culminated in this exciting farm in announcement with Talisman Energy Inc. ("Talisman"). Talisman is a diversified, global, upstream oil & gas company, based in Canada, currently piloting and developing a number of shale plays in North America. Talisman has signed a farm in agreement with San Leon that covers the Company's two existing Baltic Basin concessions (Braniewo & Gdansk W) and also extends to a 3rd pending concession application in the Gdansk area.

Recommended Acquisition of Island Oil & Gas plc by San Leon Energy plc to be effected by means of a Scheme of Arrangement

The Boards of Island Oil & Gas plc ("Island") and San Leon Energy plc ("San Leon") are pleased  to announce that they have reached agreement on the terms of a recommended  share for share acquisition ("Acquisition"). The Acquisition is for the entire  issued and to be issued share capital of Island  and will be implemented by San Leon by means of a scheme of arrangement, as  detailed under Section 201 of the Companies Act, 1963.

Extension of Working Capital Facility to Island

Further to the announcements on 23 December 2009 and 29 January 2010 regarding the provision of a €500,000 working capital facility ("the Loan") to Island Oil & Gas plc ("Island"), San Leon is pleased to announce that it has agreed to extend the Loan to 26 February 2010.

Appointment of Non Executive Director

San Leon Energy PLC ('San Leon' or 'The Company') is pleased to announce the appointment of Mr. Shaun Hennessey as a Non Executive Director with immediate effect.

Extension of 29.62 per cent. irrevocable undertakings to accept an offer if made

On 15 October 2009, San Leon announced that it had made a proposal to Island Oil & Gas plc ("Island") for the combination of the two companies with a view to building a strong Irish-based oil and gas exploration business and that it had received an irrevocable undertaking on 14 October 2009 from Platinum Petroleum Limited ("Platinum"), the largest shareholder in Island, to accept or procure acceptance of such offer in respect of, in aggregate, 25,000,000 Island Shares representing approximately 18.4 per cent. of Island's issued share capital.

Joint Venture Agreement with Al Meinaa Oil Services of Iraq

San Leon is delighted to announce that it has entered into a joint venture with Al Meinaa Oil Services Limited ("Al Meinaa") for the reciprocal referral and joint evaluation of Oil and Gas projects in the Republic of Iraq (the "Joint Venture").