Mediterranean Oil & Gas Provides Operational Update

Mediterranean Oil & Gas Plc reports on spud dates for four wells worldwide, as well as seismic programs on the Medjerda permit and offshore Malta.

The expected spud date of the Grenade 3, originally set for early January 2008, has been delayed because the rig, supplied by French contractor Cofor, has had its current engagement extended. The field is located in France, and the operator is Egdon.

The spud date for the Ombrina Mare, located in Italy and operated by MOG, has been confirmed for January 2008.

The Teboursouk 1 spud date is now forecast in late January or early February 2008. There is a short delay due to the rig's extended operation on its current engagement. Operated by Range, the field is located in Tunisia.

The Monte Grosso field spud date has been delayed because the availability of the EMSCO C3 rig has been delayed. The forecast spud date for the field in Italy is now postponed to the end of March 2008.

The acquisition of 200 kilometers of new 2D seismic data has commenced for the exploration program for the Medjerda permit in Tunisia. The seismic program should be finished by the end of

January or beginning of February 2008, followed by data interpretation. The net cost of the study and interpretation is U.S. $750,000.

Interpretation of the newly acquired 2D seismic data in blocks 5, 6 and 7 offshore Malta and integration with vintage 2D seismic data and the geological model has commenced and is expected to be completed by mid to late February 2008. 3D data re-interpretation on block 4 will follow.