29 August 2006
Granby Oil and Gas plc

("Granby" or "the Company" or "the Group")

Notice of AGM

Granby, the oil and gas exploration and production company with interests in the UK North Sea  and
the  Philippines, is pleased to announce that its first Annual General Meeting  will  be  held  at
16:00  (4pm)  on Wednesday 20 September 2006 at KBC Peel Hunt, 111 Old Broad Street,  London  EC2N
1PH.



Enquiries:
 Granby Oil and Gas                                    020 7653 3660
    David Grassick, Managing Director                  07785 921080
                                                       
    Nigel Burton, Finance Director                     077 8523 4447
                                                       
                                                       
 College Hill                                          020 7457 2020
    Nick Elwes                                                      
    Paddy Blewer                                       

Notes to Editors

Background

Overview of Granby
Granby  Oil and Gas plc (ticker symbol GOIL) is an oil and gas business focused on exploration  in
carefully  selected  areas  in  the North Sea and elsewhere, and also  on  securing  oil  and  gas
production  and developments. The Group's strategy is to build a significant portfolio  of  assets
through both discovery and exploitation of oil and gas reserves.

The  Group  was  created by the combination of Granby Enterprises and Team  Oil,  two  independent
companies  formed  in 2002 which have had common management teams and ownership since  June  2004.
Granby raised �11.5m in 2005, of which �10m was from a placing and Admission to AIM in June  2005,
and recently announced an additional placing of �9m.

The  management  team includes six former executives from Enterprise Oil plc, one of  the  largest
independent companies operating in the North Sea during the 1980s and 1990s.

Granby's portfolio and plans
Granby  is planning a multi-well exploration programme in the North Sea for 2006 and 2007, and  is
in  the  advanced stages of farming out several licences awarded in the 22nd and  23rd  Rounds  to
enable this to proceed. Granby aims to participate in drilling three firm fully funded exploration
wells  by  mid  2007.  All these wells, two offshore and one onshore, are  100%  funded  by  other
companies.

Granby's  current acreage comprises interests in 13 UK offshore licences spanning a  total  of  23
blocks  and  part  blocks in the Central and Southern North Sea and the Forth Approaches  (703,099
acres),  containing multiple prospects generated by the Company with a net unrisked  potential  of
362 million barrels. Granby also has an interest in a single onshore licence in Yorkshire.

In  addition,  Granby  has  a  9.14% indirect interest in the Galoc field,  offshore  Philippines,
through  its 15.69% shareholding in the Galoc Production Company which operates the field.   First
oil  production from the field is expected in late 2007 at an initial rate of approximately 15,000
bopd.

Granby has also recently announced that it has earned a 35% interest in the Tristan North West gas
development  in  block 49/29b in the UK Southern North Sea subject to acceptance  of  the  licence
assignment  by  the  Department of Trade and Industry ("DTI") and final approval  of  the  finance
package.

                                                                
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