28 March 2013 Adriatic Oil Plc ("Adriatic Oil" or the "Company") Result of Annual General Meeting The Company announces that at the Annual General Meeting ("AGM") held today all the resolutions proposed were passed. At the AGM, Bruno Müller, Chief Executive of Adriatic Oil, said: "Since the Company's last AGM, Adriatic Oil has reported progress in relation to farming into exploration assets in the UK North Sea and the farming out of assets in the North Celtic Sea. The Board believes that the Company's strategy of partnering with third party exploration companies should help to achieve its objective of increasing the value of such assets. The Board of Adriatic Oil also expects to be in a position to give updates in relation to Albania and Italy in the course of the coming year." 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 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/28/2013 11:13 GMT
ADRIATIC OIL PLC: Result of Annual General Meeting
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