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For immediate release

14 January 2010

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 13 January 2010 the Board of Nautical approved the grant of 550,000 options over the Ordinary shares in the Company to the Directors and key employees of the Company.

The options granted follow a proposal to the Board of Nautical by the Company's Remuneration Committee following the committee meeting on 7 December 2009. The share options granted to Directors are as follows:

Stephen Jenkins	150,000
Paul Jennings	100,000
Will Mathers	100,000
John Conlin	30,000
Philip Dimmock	25,000
Patrick Kennedy	25,000

The options are to subscribe for new shares in the Company and the exercise price is 57.50 pence per share, being the middle market quotation of the shares as derived from the Official List on the Grant Date. The options have been granted for nil consideration. 

The options may be exercised semi-annually, on a pro rata basis, over a 24-month period from 13 January 2010. All share options must be exercised before 13 January 2018, failing which they will lapse.

After granting the above share options the beneficial and other interests of the directors and their families in the shares of the Company at 13 January 2010 are:

	Ordinary shares number	Share options number
Stephen Jenkins	876,096	1,125,000
Paul Jennings	876,096	800,000
Will Mathers	Nil	200,000
John Conlin	Nil	60,000
Philip Dimmock	Nil	250,000
Patrick Kennedy	75,000	250,000

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 Romney Ben Willey
Evolution Securities - Nominated Advisor & Joint Broker	020 7071 4300
Rob Collins Neil Elliot Adam James
Ambrian Partners Limited - Joint Broker	020 7634 4700
Richard Swindells

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