Mediterranean Oil & Gas Plc provided production guidance for 2013. The company’s 2013 production is estimated to be c. 33MMscm.   The company plans to drill Hagar Qim 1exploration well targeting c. 109 million boe likely unrisked Prospective Resources, 27 million boe net to MOG with its partner Genel. The company currently plans to drill this well in fourth quarter 2013. It will be evaluating the Mesozoic play in Area 4, including the reprocessing of the 2011 3D seismic data.  In France, it is working to reach JV alignment.

Mediterranean Oil & Gas Plc provided operational update related to the company's activities in first quarter of 2013: Significant progress with preparations for the company's fourth quarter of 2013 drilling programme in Malta. Completed sale of 75% of its shareholding in Phoenicia Energy Company Ltd. ("PECL") to Genel Energy plc ("Genel"); Service Order signed with AGR Well Management Limited ("AGR") for the provision of drilling engineering and rig procurement support for the drilling of the Hagar Qim 1 well; Operational base in Malta due to open in May 2013. Positive ruling on MOG's submission of the Ombrina Mare Environmental Impact Assessment ("EIA") from the EIA Commission charged by the Ministry of Environment to rule on the oil and gas field development EIA. The net production was 9.9 million scm, representing an average net production of 110,000 scm per day. Well GUE-2ss, which accounts for c.30% of production in the Guendalina Field, shut-in since 5th March 2013 pending operations to determine the cause of the sudden change in operating conditions. The company's total revenue for the first quarter of 2013 was €3.05 million.

Mediterranean Oil & Gas Plc reported consolidated earnings results for the full year ended December 31, 2012. Revenue was EUR 16,254,000 against EUR 4,661,000 for the same period in the last year. Profit from operations was EUR 4,055,000 against loss from operations of EUR 1,798,000 for the same period in the last year. Profit before tax from continuing operations was EUR 3,624,000 against EUR 2,930,000 for the same period in the last year. Profit for the year after tax from continuing operations was EUR 1,757,000 against EUR 6,528,000 for the same period in the last year. Profit for the year after tax and total comprehensive income attributable to the equity holders of the parent was EUR 893,000 against EUR 6,432,000 for the same period in the last year. Basic and diluted earnings per share attributable to the equity holders of the parent were 0.21 cents against 2 cents for the same period in the last year. Basic and diluted earnings per share on continuing operations were 0.41 cents against 2 cents for the same period in the last year. Net cash flows from operating activities were EUR 6,456,000 against EUR 1,143,000 for the same period in the last year. Purchase of property, plant, equipment was EUR 211,000 against EUR 16,327,000 for the same period in the last year.