Magnolia Petroleum PLC : - Participation in Four New Wells in North Dakota

     Magnolia Petroleum Plc / Index: AIM / Epic: MAGP / Sector: Oil & Gas

20 January 2014

              Magnolia Petroleum Plc(`Magnolia' or `the Company')

                Participation in Four New Wells in North Dakota

Magnolia Petroleum Plc, the AIM quoted US onshore focused oil and gas
exploration and production company, is pleased to announce its participation in
four new wells in North Dakota. All four wells are to be drilled on the same
spacing unit as the Skunk Creek 14H and Skunk Creek 15H wells that are
producing from the Bakken and Three Forks Sanish formations. This update is in
line with the Company's strategy to rapidly build production and prove up the
reserves on its leases in oil rich formations, including the Bakken in North
Dakota and Mississippi Lime in Oklahoma.

The Company is participating in the following four wells at an aggregate net
cost of US$220,072:

Well Name      Targeted Formation  Operator     Magnolia's   Net Cost to
                                                WI/NRI%      Magnolia

Skunk Creek    Three Forks Sanish, Kodiak       0.60/0.45    US$55,090
4-8-17-13H3    North Dakota        Exploration

Skunk Creek    Bakken, North       Kodiak       0.60/0.45    US$54,946
4-8-17-13H     Dakota              Exploration

Skunk Creek    Three Forks Sanish, Kodiak       0.60/0.45    US$55,090
4-8-17-14H3    North Dakota        Exploration

Skunk Creek    Bakken, North       Kodiak       0.60/0.45    US$54,946
4-8-17-14H     Dakota              Exploration

Rita Whittington, COO of Magnolia, said, "We are delighted to be participating
in these four new wells which will be drilled back to back on the same spacing
unit as the two original Skunk Creek wells. Though it has since been
superseded, notably by four of the six Statoil operated Jake wells in North
Dakota, at 2,303 bopd the initial production rate for the Skunk Creek 15H well
was, at the time, our best ever.

"In addition, these four new infill wells serve as a reminder that in North
Dakota it is accepted practice to drill a total of four wells per formation on
each spacing unit in order to maximise the recovery of the reserves. As the
Three Forks Sanish lies below the Bakken formation, there is therefore the
potential for eight wells to be drilled per unit on all our leases in North
Dakota, including the Jake wells and the Marathon operated Gustafson and
Helgeson wells. I look forward to providing further updates in due course, as
we prove up the reserves on our leases through drilling and generate value for
our shareholders."

                                  ** ENDS **

Glossary

`NRI' means net revenue interest

`WI' means working interest

For further information on Magnolia Petroleum Plc visit
www.magnoliapetroleum.com or contact the following:

Steven Snead              Magnolia Petroleum Plc          +01 918 449 8750

Rita Whittington          Magnolia Petroleum Plc          +01 918 449 8750

Jo Turner / James Caithie Cairn Financial Advisers LLP    [phone]

John Howes / Alice Lane / Northland Capital Partners      [phone]
Luke Cairns               Limited

Lottie Brocklehurst       St Brides Media and Finance Ltd [phone]

Frank Buhagiar            St Brides Media and Finance Ltd [phone]

Notes

Magnolia Petroleum Plc is an AIM quoted, US focused, oil and gas exploration
and production company.  Its portfolio includes interests in 136 producing and
non-producing assets, primarily located in the highly productive Bakken/Three
Forks Sanish hydrocarbon formations in North Dakota as well as the oil rich
Mississippi Lime and the substantial and proven Woodford and Hunton formations
in Oklahoma.

Summary of Wells

Category                               Number of wells

Producing                              136

Being Drilled / Completed              9

Elected to participate / waiting to    39
spud

TOTAL                                  184