For filings with the FSA include the annex

For filings with issuer exclude the annex

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi

1. Identity of the issuer or the underlying issuer
of existing shares to which voting rights are
attached: ii

Mediterranean Oil & Gas Plc

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

x

An event changing the breakdown of voting rights

Other (please specify): 

3. Full name of person(s) subject to the
notification obligation: iii

Stark Offshore Management, LLC as investment manager to Stark Master Fund, Ltd.

4. Full name of shareholder(s) 
 (if different from 3.):iv

Stark Master Fund, Ltd.

5. Date of the transaction and date on
which the threshold is crossed or
reached: v

1 June 2009

6. Date on which issuer notified:

1 June 2009

7. Threshold(s) that is/are crossed or
reached: vi, vii

30%

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type of
shares

if possible using
the ISIN CODE

Situation previous
to the triggering
transaction

Resulting situation after the triggering transaction

Number
of
Shares

Number
of
Voting
Rights

Number
of shares

Number of voting
rights

% of voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

GBOOBOMZGF99

7,493,856

7,493,856

7,493,856

7,493,856

N/A

19.25%

N/A

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial
instrument

Expiration
date xiii

Exercise/ 
Conversion Period xiv

Number of voting
rights that may be
acquired if the
instrument is
exercised/ converted.

% of voting
rights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financial
instrument

Exercise price

Expiration date xvii

Exercise/
Conversion period xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

Contracts for Difference

N/A

N/A

N/A

450,000

Nominal

Delta

1.15%

N/A

Convertible Bonds

50p

30/09/10

Any time from now to 30/09/10

9,532,000

24.49%

N/A

Total (A+B+C)

Number of voting rights

Percentage of voting rights

17,475,856

44.89%

9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable: xxi

N/A

Proxy Voting:

10. Name of the proxy holder:

11. Number of voting rights proxy holder will cease
to hold:

12. Date on which proxy holder will cease to hold
voting rights:

13. Additional information:

14. Contact name:

Beatriz Meldrum (Stark Investments (UK) Ltd.)

15. Contact telephone number:

020 7647 9066