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For immediate release

13 January 2009

Nautical Petroleum plc

('Nautical' or 'the Company')

Directors Shareholding

Nautical Petroleum plc (AIM: NPE) the developer of heavy oil assets on the UKCS and in Europe today announces that on 12 January 2009 the Board of Nautical approved the grant of 395,000 options over the Ordinary shares in the Company, to certain Nautical Directors and key employees of the Company.

This options granted follow a proposal to the Board of Nautical by the Company's Remuneration Committee following the committee meeting on 19 December 2008. The share options granted to Directors are as follows:

Stephen Jenkins	150,000
Paul Jennings	125,000
Philip Dimmock	25,000
Patrick Kennedy	25,000

The options are to subscribe for new shares in the Company and the exercise price is 26.75 pence per share (being the middle market quotation of the shares as derived from the Official List on the Grant Date). 

The options may be exercised semi-annually, on a pro rata basis, over a 24-month period from 12 January 2009. All share options must be exercised before 12 January 2017, failing which they will lapse.

After granting of the above share options the beneficial and other interests of the directors and their families in the shares of the Company at 12 January 2009 are:

	Ordinary shares number	Share options number
Stephen Jenkins	876,096	975,000
Paul Jennings	876,096	700,000
Will Mathers	Nil	100,000
Philip Dimmock	Nil	225,000
Patrick Kennedy	75,000	225,000

S. Jenkins and P. Jennings hold part of their shareholding with OMX Securities Nominees Limited.

For further information please contact:

Nautical Petroleum plc	020 7550 4890
Steve Jenkins, Chief Executive Officer Paul Jennings, Commercial Director Will Mathers, Finance Director
Buchanan Communications	020 7466 5000
Ben Willey Ben Romney
KBC Peel Hunt Ltd, Nominated Advisor and Broker	020 7418 8900
Jonathan Marren
Matt Goode

ENDRDSIFFLFLLIFLIA