AGM Statement

RNS Number:6785K
Edinburgh Oil & Gas PLC
02 May 2003


                           NEW EXPLORATION WELL ON 
                          BUZZARD LICENCE PROPOSED


At the Company's Annual General Meeting held today, Colin Ross, Chairman of
Edinburgh Oil & Gas plc, made the following statement:

"The design of the Buzzard oilfield development facilities is being finalised
and the Company anticipates submission of the field development plan to the
Department of Trade and Industry during the third quarter of this year.

"A new exploration well on Buzzard licence P928(South) has been proposed by the
operator EnCana (U.K.) Limited. This well will target a prospect to the north of
the Buzzard field and subject to partner approval we expect this well to be
drilled in the third quarter of this year. The Company intends to apply for new
UK offshore exploration acreage in the 21st Round of Offshore Licensing which
closes on 8 May 2003.

"The onshore UK properties continue to provide a steady cash flow and first
quarter operating profits are running slightly ahead of the comparable period
last year. The Company's financial position has changed little since the year
end and net current assets at the end of the first quarter of 2003 were #3.6
million."

                                    - End -

For further details please contact:
Alf Bissett, Managing Director                           0131 225 5454
Edinburgh Oil & Gas plc

Roland Cross, Director                                   020 7726 6111
Broadgate

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

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