Valiant Petroleum plc : - Norwegian License Award

Valiant Petroleum plc

18 January 2012

PRESS RELEASE

Norwegian License Award

Valiant Petroleum plc ("Valiant") is pleased to announce that its wholly owned subsidiary, Valiant Petroleum Norge AS, has been awarded operatorship and a 50% interest in License PL 617, Block 2/9 on the Norwegian Continental Shelf as part of the APA 2011 Licensing Round. The other partners are Premier Oil Norge AS (35%) and Bridge Energy Norge AS (15%). The award represents Valiant's first operated block in Norway.

The work commitment includes the purchase of existing 3D seismic and a drill or drop decision on the block within two years.

Peter Buchanan, CEO, commented:

"Valiant is extremely pleased to have been awarded its first operated block in Norway following entry into the country less than six months ago. We look forward to working together with our partners to firm up the prospects identified on the block."

In accordance with the AIM Rules, the information in this announcement has been reviewed and signed off by Terje Hagevang, Managing Director Norway, who has over 30 years relevant experience within the sector.

ENDS

Valiant Petroleum plc
Peter Buchanan, Chief Executive Officer	[phone]
Terje Hagevang, MD Norway Nick Ingrassia, Investor Relations
Brunswick Group (Public Relations)
Patrick Handley/Natalia Erikssen	[phone]
Oriel Securities Limited (NOMAD, Joint Broker)
Michael Shaw/Gareth Price	[phone]
RBS Hoare Govett Limited (Joint Broker)
Chris Zeal/Graham Hertrich	[phone]

ENDS

Neither the content of the Company's website nor the content of any website accessible from hyperlinks on the Company's website (or any other website) is incorporated into, or forms part of, this announcement nor, unless previously published by means of a Regulatory Information Service, should any such content be relied upon in reaching a decision as to whether or not to acquire, continue to hold, or dispose of, securities in the Company.