5 March 2013 Adriatic Oil Plc ("Adriatic Oil" or the "Company") Notice of AGM The Board of Adriatic Oil Plc, the ISDX Growth Market quoted international oil and gas exploration company, announces that the Company's Annual General Meeting ("AGM") will be held at 10.00 a.m. on Thursday 28 March 2013 at No.1 Grosvenor Crescent, London SW1X 7EF. At the AGM, the following resolutions will be considered and, if thought appropriate, passed (all as ordinary resolutions): 1. To consider and adopt the statement of accounts for the year ended 30 September 2012 and the reports of the directors and auditors thereon and the consolidated accounts of the Company and its subsidiaries for the same period. 2. To re-elect Jack Wilson who retires pursuant to Article 106.ff. of the Company's articles of association and who, being eligible, offers himself for re-election as a director. 3. To re-elect Jean-Denis Bouvier who retires pursuant to Article 106.ff. of the Company's articles of association and who, being eligible, offers himself for re-election as a director. 4. To re-appoint BSG Valentine as auditors of the Company and to authorise the board of directors of the Company to fix their remuneration. As a result of the decision to write off the goodwill arising on the acquisition of Pelagian Oil Limited, the net assets of the Company are now less than half the amount of the Company's called-up share capital. Accordingly, under the Companies Act 2006, the Directors are required to convene a general meeting to consider whether any, and if so what, steps should be taken to deal with the situation. This situation has arisen from a non-cash adjustment, the Company's assets outweigh its liabilities, and the Directors do not consider that any particular steps need to be taken. The Annual General Meeting will consider this matter in addition to the Resolutions. Notice of the AGM, a form of proxy and the financial statements for the year ended 30 September 2012 (collectively the "Documents") have been posted to shareholders. Copies of the Documents will be available for inspection for a period of one month from today's date, free of charge, from the offices of SVS Securities Plc at 21 Wilson Street, London EC2M 2SN. THE DIRECTORS OF THE COMPANY ACCEPT RESPONSIBILITY FOR THE CONTENTS OF THIS ANNOUNCEMENT --ENDS-- Enquiries: ADRIATIC OIL PLC Bruno Müller +44 (0) 20 3178 4060 SVS SECURITIES PLC - ISDX Growth Market Corporate Adviser Peter Ward / Alexander Brearley +44 (0) 20 7638 5600 YELLOW JERSEY PR LIMITED - Financial PR Dominic Barretto / Anna Legge +44 (0) 20 3664 4087 NOTES TO EDITORS: Adriatic Oil Plc is a publicly quoted UK-incorporated international oil and gas exploration company with a portfolio of activities focused on the North Celtic Sea, the UK North Sea and the Adriatic Sea Basin. In the North Celtic Sea, the Company has agreed with Fastnet Oil & Gas plc to farm-out 64.5% of its original 80% interest in a Licensing Option which covers an area of 881 sq. km. Following execution of the Farm-in Agreements, the Company will hold 15.5% of the Licensing Option. The Company has a second small carried interest in offshore Western Ireland. Separately, in the Inner Moray Firth area of the UK's North Sea, Adriatic Oil has secured a 25% Farm-In, approved by the UK Department of Energy and Climate Change, to Seaward Production Licence P1921 in relation to Blocks 12/18 and 12/ 19c and the Company has an option for a further 25%. Adriatic Oil is also focused on making and progressing applications for offshore exploration opportunities in Albania, which holds the largest onshore oilfield ever found in Europe with 5.7 billion barrels of oil in place. Adriatic Oil's strategy is to add shareholder value by proving and developing leads and plays in areas which the Directors of the Company consider to be high potential oil and gas provinces. Adriatic Oil's ordinary shares are quoted on the ISDX Growth Market (operated by ICAP Securities & Derivatives Exchange Limited) under the ticker symbol 'ADOP'. The Company's website is available at www.adriaticoil.com END -0- Mar/05/2013 14:54 GMT
ADRIATIC OIL PLC: Notice of AGM
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