Valiant Petroleum plc : - Timon Well Operations

Valiant Petroleum plc

PRESS RELEASE

25 January 2013

Timon Well Operations

Valiant Petroleum plc ("Valiant") is pleased to announce that the Transocean John Shaw semi-submersible drilling rig has arrived on location to complete drilling of the Timon prospect (Valiant, 10%) located in the UK Northern North Sea in Blocks 211/11b and 211/16b. The 211/11b-7 well was originally spudded in May 2012 before being suspended due to operational problems with the previous drilling rig. The well is anticipated to take around 40 days to complete.

Timon is an Upper Jurassic sand play with gross best estimate prospective resources estimated by Valiant to be 30 million barrels of oil equivalent (net 3 mmboe).

The partners in the P1633 licence are MPX North Sea Limited (operator, 15%), Agora Oil & Gas (UK) Limited (a wholly owned subsidiary of Cairn Energy PLC) (25%), Taqa Bratani Limited (18%), Wintershall E&P Limited (17%), Sorgenia E&P (UK) Ltd (15%) and Valiant Causeway Limited (10%).

In accordance with the AIM Rules, the information in this announcement has been reviewed and signed off by Richard Morgan, UK Exploration Manager, who has over 28 years' relevant experience within the sector.

ENDS

Neither the content of the Company's website nor the content of any website accessible from hyperlinks on the Company's website (or any other website) is incorporated into, or forms part of, this announcement nor, unless previously published by means of a Regulatory Information Service, should any such content be relied upon in reaching a decision as to whether or not to acquire, continue to hold, or dispose of, securities in the Company.