GOIL Granby Oil

    6 August 2007
Granby Oil and Gas plc

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

Granby  completes seismic operations over four UK North Sea blocks and participates in  additional
seismic survey

Granby, the oil and gas exploration and production company with interests in the UK North Sea  and
the Philippines, is pleased to announce completion of three seismic survey operations over four of
its UK blocks, and the recent commencement of an additional fourth survey in block 13/25.

The  seismic  vessel 'M/V Fugro Meridian' successfully acquired two high density 2D  surveys  over
blocks   9/22,  14/14b  and  14/9a,  and  a  third  conventional  2D  survey  over  block  16/11a.
Approximately  2,600 line kilometres of 2D seismic data were acquired in total and  processing  of
the data has begun and is expected to take around three months to complete.

Granby recently farmed out an interest in blocks 14/14b & 14/9a and retains an interest of 33.34%.
As  a consequence of the farm out, Granby's share of costs relating to the seismic acquisition  on
these blocks is fully carried.

Granby has a 50% participating interest in blocks 9/22 and 16/11a.

In  addition to the above, the Company is pleased to announce that Granby and its co-venturers  in
UKCS  Licence P.1404 Block 13/25 have executed an agreement with Petro-Canada UK Limited and Reach
Exploration  (North Sea) Limited, both licensees of the adjacent Licence P.1459 Block  13/24d,  to
participate  in  a  joint  seismic survey.  This proprietary high  resolution  2D  seismic  survey
(approximately 970 line km) is being operated by Petro-Canada and will cover parts  of  both  UKCS
blocks 13/24d and 13/25 where shared prospectivity has been identified.

Seismic  acquisition is ongoing and it is anticipated that the survey will be  completed  sometime
next  week.  The  total  survey  costs are estimated to be �0.6  million,  of  which  Granby  will
contribute 12.5%.

David Grassick, Managing Director of Granby Oil and Gas, said:

"These  surveys will help firm up well locations on several prospects in readiness  for  potential
drilling later in 2007 or 2008.  We are very pleased to participate in the additional survey  with
the  Petro-Canada led group, which we hope will lead to further cooperation on the exploration  of
the shared potential of these blocks."

Richard Moreton, Executive Director of Granby Oil and Gas, said:

"These  blocks  have  some very significant potential and the high quality  data  from  these  new
surveys will help further de-risk the prospects before drilling."

Enquiries:
 Granby Oil and Gas plc                                          020 7653 3660 or
                                                                 0845 2577537
    David Grassick, Managing Director                            07785 921080
                                                                 
    Nigel Burton, Finance Director                               077 8523 4447
                                                                 
    www.granbyoil.com                                            
                                                                 
 KBC Peel Hunt Ltd (Nominated Adviser)                           020 7418 8900
    Jonathan Marren / Matt Goode                                 
                                                                 
 College Hill                                                    020 7457 2020
    Nick Elwes / Paddy Blewer                                    
                                                                 

Notes to Editors

Overview of the Business
Granby  Oil  and  Gas plc (LSE 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.

Granby's Portfolio and Plans

Granby's current acreage comprises interests in a portfolio of offshore licences in the North Sea,
containing multiple prospects generated by the Company.  Granby also has an interest in  a  single
onshore licence in Yorkshire.

Granby's next exploration well is expected to be drilled onshore in Yorkshire later in the year.

Granby has a 54% participating interest in, and is production operator of, the Tristan North  West
gas  development in block 49/29b in the UK Southern North Sea. Mitsubishi Corporation,  which  has
provided  a loan facility agreement for the development, is also a partner in the project.   First
gas is expected in early 2008.

Granby  also  has a 9.0% interest in the Monkwell gas field in UKCS Licence P.001,  Block  42/29a.
The  field was discovered in 1989 by well 42/29-6, which produced gas at a rate of 26.8mmcfd  from
the  Lower  Leman Sandstone.  The field was appraised by two further wells which also tested  gas.
Consideration is being given to drilling a new well in 2008 to further appraise the field.

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 ('GPC') which operates the  field.
The  first  phase of development is now well underway, with all regulatory approvals obtained  and
the  major  contracts  awarded.   First oil production from the field  is  expected  in  Q1  2008.
Granby's net share of the Galoc reserves is 1.83 million barrels of oil equivalent.



                                                                
Granby Oil & Gas plc



                                                                

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