4 June 2007

Holding in Company

The Company was informed on 1 June 2007 that City Equities, on 31 May 2007, had acquired 14,500,000 ordinary shares in Irvine.

Following this acquisition, City Equities now hold 14,500,000 shares, equating to 3.59% of the issued share capital of Irvine.

For further information please contact:

Irvine Energy plc
Michael Frayne, Tel: +44 (0) 207 766 7500

Nabarro Wells & Co Ltd
Hugh Oram , Tel: +44 (0) 207 710 7400

St Brides Media & Finance
Hugo de Salis, Tel: +44 (0) 207 242 4477

St Brides Media & Finance
Felicity Edwards, Tel: +44 (0) 207 242 4477