6th September 2006

Holding in Company

The Company was informed on 1 September 2006 that Fidelity International Limited and its direct and indirect subsidiaries had acquired, as non-beneficial holders, 15,500,000 ordinary shares in Irvine as a result of the placement that was announced on 29 August 2006.

Fidelity International Limited and its direct and indirect subsidiaries now hold 15,500,000 shares, as non-beneficial holders, equating to 5.17% of the issued share capital of Irvine.

For further information please contact:

Irvine Energy plc
Michael Frayne, Tel: +44 (0) 207 016 9579

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