Contract Awarded for Completion of 2D Seismic Acquisition

Impact Oil & Gas, the oil and gas exploration company focused on emerging hydrocarbon plays around the African continent, announces the award of a contract with Petroleum Geo-Services (“PGS”) using their Geostreamer© technology to complete the 2D seismic survey over the Company’s four Tugela Blocks – 2931C, 2931D, 2932C and 2932A, covering a total of 11,325 square kilometres. The Company expects the survey to finish around the end of March 2012 when the Licence commitment of 5,000 kms will have been completed.