30 January 2012

COVE ENERGY PLC

DIVESTMENT OF TANZANIAN INTERESTS, TERMINATION OF WENTWORTH ROYALTY

Cove Energy plc ("the Company" or "Cove", AIM:COV), the AIM quoted upstream oil and gas company is pleased to announce today that it has entered in to an agreement ("the Agreement") to divest its Tanzanian interests, comprising a 16.38% interest in production operations and 20.475% interest in exploration operations in the Mnazi Bay Production Sharing Contract ("Mnazi Bay PSC"), to Wentworth Resources Ltd ("Wentworth", AIM:WRL). The Agreement provides for transfer of 100% of the shares of Cove Energy Tanzania Mnazi Bay Limited, a wholly owned group subsidiary of Cove, to Wentworth in exchange for: