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London Stock Exchange

  23.40 p

4:12PM 02/08/2010

LATEST NEWS

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").

Award of Nida Concession in Poland

San Leon is pleased to announce that its wholly owned Polish subsidiary Vabush Energy Sp. z.o.o ("Vabush") was awarded the Nida Concession (the "Concession") for oil and gas reconnaissance and exploration and the mining usufruct agreement. San Leon has a 100% interest in the Concession.

Update on negotiations with Island Oil & Gas plc ("Island") & provision of Working Capital Facility to Island

San Leon, the AIM-listed international oil and gas company, announced on 15 October 2009 that it had made an indicative proposal to Island for the combination of the two companies with a view to building a strong Irish-based oil and gas exploration and development business.

Award of Gdansk W Concession in Poland

San Leon is pleased to announce that it’s wholly owned Polish subsidiary Oculis Investments Sp. z o.o. ("Oculis") was awarded the Gdansk W Concession for oil and gas reconnaissance and exploration and the mining usufruct agreement.  San Leon has 100% interest in the Concession.

Tarfaya Exploration License

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Morocco - Tarfaya Location: Tarfaya Basin Contract: Exploration License (Seven Permits) Working Interest: 30% Hydrocarbon Potential: San Leon has identified a 300 to 500 MMBO recoverable prospect on the basis of 2D seismic. Additional seismic will be acquired over the prospect before drilling. Also, the license has tremendous hydrocarbon upside outside of our immediate focus area. This basin, located south of Agadir, Morocco, has been lightly explored. The basin includes an offshore portion, where an oil field is now being developed, and the onshore, where San Leon's Exploration Permits are located. Previous drilling encountered oil shows in the Jurassic, Upper Cretaceous, and Tertiary and established the existence of a working hydrocarbon system in the area. The work program requires a seismic survey over a key prospect and geochemical modeling in the first two and half year period. San Leon will then drill a well either in the first or second period of the 8 year license.