8 November 2007

Completes Acquisition of Bearden Prospect Area of Oklahoma Oil & Gas Project

Irvine Energy plc, the AIM listed oil and gas exploration company, has completed the acquisition of a 50% working interest in 4,167 acres of oil and gas leases in Oklahoma, USA, known as the Bearden Prospect Area, for a consideration of US$$625,026.

The Bearden Prospect Area forms part of the Oklahoma oil and gas assets that Irvine has contracted to buy from Metro Energy, subject to due diligence and arrangement of necessary finance, as announced on 16th July 2007. The Directors consider the Bearden area to be highly prospective for oil and gas, and this acquisition follows the completion of the acquisition of the Niobrara oil project in Kansas, in October. The Company continues to undertake due diligence on the remaining Oklahoma assets described in the announcement of 16th July and will report on these in due course.

Irvine Managing Director, Aaron Close, said, "We are pleased to have completed the acquisition of the Bearden acreage, which is in an area attracting strong leasing activity, given its multiple conventional reservoirs and stacked oil pays. Work continues on the development of our portfolio, which now comprises over 120,000 gross acres across Kansas and Oklahoma, and we look forward to providing an update on the positive progress made in the near future."

For further information please contact:

Irvine Energy plc
Aaron Close, Tel: +1 281 647 7770

Irvine Energy plc
Ross Warner, 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
Victoria Thomas , Tel: +44 (0) 207 242 4477