Posted on: Thursday, December 22, 2011

Press Release

For immediate release: 22 December 2011
EnCore Oil plc ('EnCore' or 'the Company')
Issue of Equity
EnCore Oil plc (LSE: EO.) announces that it has today allotted and issued 13,033,531 new ordinary shares of 5p each in the Company as a result of the exercise of options by Directors and employees of the Company on 21 and 22 December 2011.  
Details of the options exercised by Directors are as follows:
Name
Number of Options Exercised
Exercise Price (£)
Date of Grant
Alan Booth
1,095,883
0.34
3 March 2006
1,400,000
0.17
14 March 2007
933,333
0.085
5 March 2009
Eugene Whyms
1,095,883
0.34
3 March 2006
1,400,000
0.17
14 March 2007
933,333
0.085
5 March 2009
Graham Dore
845,883
0.34
3 March 2006
1,250,000
0.17
14 March 2007
833,333
0.085
5 March 2009
James Clark
345,883
0.34
3 March 2006
850,000
0.17
14 March 2007
666,667
0.085
5 March 2009
Christine Wheeler OBE
250,000
0.34
3 March 2006
250,000
0.17
14 March 2007
166,667
0.085
5 March 2009
Total
12,316,865
Also on 21 and 22 December 2011, the following Directors sold shares resulting from the exercise of the options in order to cover the cost of exercise including tax and national insurance:
Name
Number of Shares sold
Average sale price (£)
Remaining beneficial interest in EnCore shares
Alan Booth
2,248,000
0.72550
7,831,216
Eugene Whyms
2,248,000
0.72550
7,081,216
Graham Dore
1,907,997
0.72550
5,571,219
James Clark
1,183,788
0.72550
2,789,089
Christine Wheeler OBE
432,580
0.72550
2,484,744
Total
8,020,365
Following the issue of the new shares, there will be 311,713,268 ordinary shares in issue. The total number of options remaining in issue is now 4,030,260.
Application has been made for the new shares to be admitted to AIM and it is expected that admission will occur on 30 December 2011.
For further information, please contact:
EnCore Oil plc
Alan Booth, Chief Executive Officer
+44 (0)20 7224 4546
Eugene Whyms, Chief Financial Officer
Yvonne Fraser, Investor Relations Manager
+44 (0)7957 241408
Cenkos Securities plc
Jon Fitzpatrick                                                          
+44 (0)20 7397 1951 
Ken Fleming                                                              
+44 (0)131 220 9772


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