25 October 2006

Holding in Company Part 2

The Company was informed on 23 October 2006 that RIG Fund Ltd had acquired an interest in 14,285,714 Ordinary Shares in the Company, representing an interest of 4.42% of the issued share capital of the Company.

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

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