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

28 January 2013

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

                              Directors' Dealings                              

Magnolia Petroleum Plc, the AIM quoted US onshore oil and gas exploration and
production company, received notification on 25 January 2013 that Steven Snead,
the CEO, Ronald Harwood, a non-executive director, and Gavin Burnell, a
non-executive director, have each made the following purchases in the ordinary
shares of the Company:

  Director     Date of     Ordinary     Price     Subsequent   % of Issued 
              Purchase      Shares      paid       Holding        Share    
                          Purchased                              Capital   
                                                                           
Steven Snead 25 Jan 2013      500,000      2.9p    200,415,998        23.56
                                                                           
Ronald       24 Jan 2013      850,000      2.9p     30,582,426         3.60
Harwood                                                                    
                                                                           
Gavin        25 Jan 2013      200,000     2.92p     14,385,797         1.69
Burnell                                                                    

                                   **ENDS**                                    

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    
                                                                               
Antony Legge/James Thomas   Daniel Stewart & Company Plc   +44 (0) 20 7776 6550
                                                                               
John Howes/John-Henry Wicks Northland Capital Partners     +44 (0) 20 7796 8800
                            Limited                                            
                                                                               
Lottie Brocklehurst         St Brides Media and Finance    +44 (0) 20 7236 1177
                            Ltd                                                
                                                                               
Frank Buhagiar              St Brides Media and Finance    +44 (0) 20 7236 1177
                            Ltd                                                

Notes

Magnolia Petroleum Plc is an AIM quoted, US focused, oil and gas exploration
and production company.  Its portfolio includes interests in 90 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                                                                  90
                                                                             
Being Drilled/Completed                                                    15
                                                                             
Elected to participate/waiting to spud                                     17
                                                                             
TOTAL                                                                     122

This summary excludes four out of six wells acquired as part of the acquisition
of 800 gross acres with a 100% working interest in Osage County, Oklahoma, as
announced on 10 February 2012. These four wells are currently `shut in' and
will require a workover programme at some point in the future to bring back
into production.