EO. Encore Oil

RNS Number:5260V
EnCore Oil PLC
25 April 2007


For immediate release: 25 April 2007

EnCore Oil plc ("EnCore" or "the Company")

                                   Correction

Further to the announcement made yesterday under RNS number 3846V, the term
"gross recoverable reserves" used in the description of the new interests was
incorrect. The announcement should have used the term "gross contingent
resources".

The corrected announcement is below:


               EnCore Acquires Interests in Existing Discoveries
           Offshore Ireland and the Netherlands from Island Oil & Gas

EnCore Oil plc (LSE: EO.) is pleased to announce that it has acquired interests
in two gas discoveries offshore Ireland and one oil field offshore Netherlands,
as a result of its cooperation agreement with Island Oil & Gas plc ("Island").
The agreement gives EnCore additional 2007 drilling activity as well as
potential near term production in two new jurisdictions.

The immediate cash cost to EnCore will be #3.1 million, of which #2 million will
be met by the sum already on deposit with Island. In addition, Island has
acquired options to take 15 per cent. of EnCore's equity in the Bennett
Carboniferous prospect within UK licence Block 43/15a, and 30 per cent. of
EnCore's equity in the Nimes permit application onshore France, subject to
certain conditions.

The new interests include:

  * 15 per cent. equity in part-block 49/23 offshore Ireland, which contains
    the Old Head of Kinsale gas discovery, drilled by Island in 2006. The gas
    discovery is located 25 kilometres from Marathon Oil's gas production
    facilities at the Kinsale Field. Island suspended the discovery as a
    potential gas producer pending drilling an appraisal well in 2007, which is
    currently expected to commence in mid-May. Old Head of Kinsale has gross
    contingent resources of 55 bcf. EnCore also has an option to acquire an
    additional five per cent., subject to certain conditions.


  * 12.5 per cent. equity in blocks 57/1 and 57/2, which contain the Schull
    Gas Field and a number of associated structures, discovered by Total in
    1987. Schull lies approximately 43 kilometres to the southwest of the Seven
    Heads gas field and the associated infrastructure linking Seven Heads to the
    Kinsale Alpha platform. Schull has gross contingent resources of 18.2 bcf,
    and the other two gas prospects contain unrisked gross prospective resources
    of 74.1 bcf. Island will drill an appraisal well on Schull immediately after
    the Old Head well. EnCore also has an option to acquire an additional 7.5
    per cent., subject to certain conditions.


  * 10 per cent. equity in the Q13 Production Licence, which covers an area of
    30 square kilometres offshore the Netherlands and contains the Amstel Field,
    a Lower Cretaceous field with gross contingent resources of 10.9 million
    barrels. The field which was discovered in 1962 is located within the West
    Netherlands Basin and development is expected to commence in 2008. EnCore
    also has an option to acquire an additional five per cent., subject to
    certain conditions.

Drilling is expected to commence in May of this year with an appraisal/
development well on Island's 2006 'Old Head' discovery using the Petrolia
Semi-Submersible. This will be followed by a well on the Schull licence
following up additional gas potential of Total's 1987 gas discovery. In 2008,
EnCore expect to drill three development wells on the Amstel field in the
Netherlands again subject to the necessary regulatory approvals.

The option agreement with Island to acquire up to 20 per cent. in the Connemara
Licence has been extended until 30 June 2007.

Alan Booth, Chief Executive Officer of EnCore commented:

"Our entry into Ireland and The Netherlands is a significant and welcome
addition to our portfolio. These additional five wells add to an already active
programme of drilling and commercial activity for EnCore over the next two
years."


Graham Dore B.Sc. (Hons.) in Geology and M.Sc. in Petroleum Geology and EnCore's
Exploration Director, who has over 19 years' experience in the oil exploration
and production industry, has reviewed and approved the technical information
contained in this announcement.

For further information, please contact:

EnCore Oil plc                                  www.encoreoil.co.uk
Alan Booth, Chief Executive Officer             +44 (0)20 7224 4546
Eugene Whyms, Chief Financial Officer

Aquila Financial Limited                        www.aquila-financial.com
Peter Reilly                                    +44 (0)20 7202 2601
Yvonne Fraser                                   +44 (0)20 7202 2609

Hanson Westhouse Limited
Tim Feather                                     +44 (0)113 246 2610

KBC Peel Hunt
Jonathan Marren                                 +44 (0)20 7418 8900


Notes to Editors:

The farm out agreements for the Old Head of Kinsale and Schull gas
fields are subject to approval from the Irish Minister for Communications,
Marine and Natural Resources.

The Amstel farm out is subject to the approval of the Dutch Minister
for Economic Affairs. EBN, a company wholly owned by the Netherlands government
holds 40 per cent. equity in the licence.

The resources numbers in this press release are taken from Island's
press release of 20 March 2007. Dr Jan Ypma, Manager of the Petroleum Reservoir
Group of Fugro Robertson Limited, and a Petroleum Reservoir Engineer (PhD
Theoretical Physics), is the qualified person who managed the evaluation of the
technical and commercial information relating to Island Oil & Gas plc and the
documentation of the Competent Persons Report from Fugro Robertson Limited. The
CPR resources numbers were calculated in accordance with the standards of the
Society of Petroleum Engineers.


Glossary of Technical Terms

"barrel"   one barrel of oil; 1 barrel = 35 Imperial gallons (approx.), or 159
           litres (approx.); 7.5 barrels = 1 tonne (approx.); 6.29 barrels = 1
           cubic metre

"bcf"      billion cubic feet; 1 bcf = 0.83 million tonnes of oil equivalent





                      This information is provided by RNS
            The company news service from the London Stock Exchange

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