Farm Out Agreement

RNS Number:9398T
Wham Energy plc
29 March 2007


                                        

            WHAM ENERGY ANNOUNCES NORTH SEA FARM OUT AGREEMENT WITH
                          TULLOW OIL AND DANA PETROLEUM

WHAM Energy plc, ("WHAM") the AIM-listed North Sea oil and gas exploration
company, together with its partner Ithaca Energy (UK) are pleased to announce
that Tullow Oil Plc ("Tullow") and Dana Petroleum PLC ("Dana") have agreed
farm-in terms (subject to DTI consent) to progress exploration of their Southern
North Sea blocks 48/3a & 48/4 containing the Morpheus gas prospect and other
leads.

Under the agreement, Tullow and Dana will each contribute 33.33% of the cost of
drilling and testing the next exploration well on the licence and will reimburse
Ithaca and WHAM for the same share of costs of a recently acquired 3D survey on
the licence. Ithaca and Wham will contribute 25.33% and 8%, respectively, to the
costs of the well. Tullow and Dana will each earn a 25% working interest in the
licence, with Ithaca retaining 34% and WHAM 16%. The timing and precise location
of the well is yet to be decided by the Group.

WHAM Energy's CEO, Tom Windle, commented

" We are delighted that two well established UK independents have joined with us
to evaluate a very prospective licence in the UK's prolific Southern gas Basin.
We look forward to progressing with our strategy of exploring these exciting
prospects."

                                     -ends-

Date: 29 March 2007
For further information contact:

WHAM Energy plc                          cityPROFILE
Tom Windle, Chief Executive              Simon Courtenay
Alan Thomas, Finance Director            Tel: [phone]
Tel: [phone]


WHAM Energy plc is an AIM listed company. Further details are available on the
Company's website: www.whamenergy.com







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

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