MENA Hydrocarbons Announces Closing of Private Placement and Issuance of Bonus Shares

MENA Hydrocarbons Inc. ("MENA" or the "Company") (TSX VENTURE:MNH) announced
that it has completed the issuance of 9,434,292 common shares of the Company in
connection with the term loans announced on November 30, 2012, and the issuance
of 25,000,000 units of the Company in connection with the private placement
announced on December 14, 2012. Each Unit consists of one common share and
one-half of one share purchase warrant. Each whole warrant is exercisable at a
price of $0.05 at any time within 12 months from the date of issue, and at a
price of $0.10 thereafter until two years from date of issue. The Company
expects to complete within the next several weeks the issuance of an additional
390,451 common shares pursuant to the term loans.


These securities, including the common shares issuance on the exercise of the
warrants, are subject to restrictions on resale for a period of four months and
one day following closing, in addition to "control person" restrictions that
apply to the securities issued to Mr. Bassaly. The issuance of these securities
is subject to the final approval of the TSXV.


Operational and Management Update

Further to its January 15, 2013, operations update on the Company's 100% owned
Lagia oil field in Egypt, MENA is pleased to confirm that its Lagia well #9
continues to produce at stabilized rates of 50-60 barrels of oil per day. In
early January, Lagia #9 had its original sucker rod pump replaced by a
progressive cavity pump which initiated a dramatic increase in the wells
productivity. 


As a result of the continuous oil production, MENA has been able to deliver
crude oil shipments to EGPC on a regular basis. The Company is awaiting the
arrival of its steam injection equipment and personnel for the initiation of
steam injection operations in the field which is expected to begin later this
month. Given the quality of sandstone reservoir and oil gravity, it is expected
that production volumes from the wells will be significantly improved.


About the Lagia Oil Field 

MENA is the sole participant in the joint venture company with EGPC, PetroSinai
which operates the Lagia Development Lease covering a 32 square kilometre block
of land located on the Sinai Peninsula, directly adjacent to the Gulf of Suez.
Prior to MENA's 2012 activity within the lease, four wells had been drilled
between the years 1949 to 2000 that had identified the Lagia oil field. Three
producing oil fields, Sudr, Matarma and Asl, are located as close as 26 km to
the north of the Lagia oil field.


About MENA Hydrocarbons

MENA Hydrocarbons is an international oil and gas company focused on growing an
asset base of production, development and high impact exploration in the Middle
East and North Africa region. In Egypt, MENA owns and operates the development
lease for the Lagia oil field, a 32 square kilometre onshore block located on
the Sinai Peninsula, directly adjacent to the Gulf of Suez. In Syria, MENA owns
a 30% participating interest in Block 9 in Syria, a 10,032 square kilometre
onshore block prospective for crude oil, natural gas and condensate. In the
United States, MENA owns 6,242 gross acres (with an 81.2% average working
interest) in Northwestern Montana with light/medium oil reserves. MENA's shares
currently trade on the TSX Venture Exchange under the symbol "MNH".


Forward looking information 

This news release contains forward-looking information relating to the issuance
of additional securities of MENA and to planned development and exploration
activities on the properties in which the Company has interests. Such
forward-looking information is subject to important risks, uncertainties and
assumptions. The results or events predicated in this forward-looking
information may differ materially from actual results or events. The recovery
and reserve estimates of MENA's reserves provided herein are estimates only and
there is no guarantee that the estimated reserves will be recovered. As a
result, you are cautioned not to place undue reliance on these forward-looking
information. 


Forward-looking information is based on certain factors and assumptions
regarding, among other things, the Company maintaining its stock exchange
listing; the availability of financing on acceptable terms or at all and the
timing such financing is needed; the impact of increasing competition; the
general stability of the economic and political environments in which the
Company operates or owns interests; the timely receipt of any required
regulatory approvals; the ability of the Company to obtain qualified staff,
equipment and services in a timely and cost efficient manner; drilling results;
the ability of the operator of the projects which the Company has an interest in
to operate the field in a safe, efficient and effective manner; the ability of
the Company to obtain financing on acceptable terms; field production rates and
decline rates; the ability to replace and expand oil and natural gas reserves
through acquisition, development of exploration; the timing and costs of
pipeline, storage and facility construction and expansion and the ability of the
Company to secure adequate product transportation; future oil and natural gas
prices; currency, exchange and interest rates; the regulatory framework
regarding royalties, taxes and environmental matters in the jurisdictions in
which the Company operates; and the ability of the Company to successfully
market its oil and natural gas products, and other similar matters. While the
Company considers these assumptions to be reasonable based on information
currently available to it, they may prove to be incorrect. 


Forward looking-information is subject to certain factors, including risks and
uncertainties that could cause actual results to differ materially from what is
currently expected. These factors include risks associated with the Company's
ability to successfully maintain its stock exchange listing, the availability of
capital on acceptable terms or at all and the timing such capital is needed,
instability of the economic and political environments in which the Company
operates or owns interests, oil and gas exploration, development, exploitation,
production, marketing and transportation, loss of markets, volatility of
commodity prices, currency fluctuations, imprecision of reserve estimates,
environmental risks, competition from other producers, inability to retain
drilling rigs and other services, incorrect assessment of the value of
acquisitions, the inability to settle the definitive terms of the farmout
arrangements, failure to realize the anticipated benefits of acquisitions,
delays resulting from or inability to obtain required regulatory approvals and
ability to access sufficient capital from internal and external sources,
reliance on key personnel, regulatory risks and delays, including risks relating
to the acquisition of necessary licenses and permits, environmental risks and
insurance risks. 


You should not place undue importance on forward-looking information and should
not rely upon this information as of any other date. While the Company may elect
to, the Company is under no obligation and does not undertake to update this
information at any particular time, except as required by law. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
MENA Hydrocarbons Inc.
Magdy Bassaly
President and Chief Executive Officer
5 Hassan Hafez Street Saraia Elqoba, Cairo Egypt
Cell 201222101582


MENA Hydrocarbons Inc.
Jason Bednar
Vice President, Finance & Chief Financial Officer
Main Phone: [phone]


MENA Hydrocarbons Inc.
Main Phone: [phone]
[phone] (FAX)
1000, 205 - 5th Avenue S.W.
Calgary, AB, T2P 2V7
www.menahydrocarbons.com