MENA Hydrocarbons Inc.
TSX VENTURE : MNH

MENA Hydrocarbons Inc.

February 23, 2012 06:00 ET

MENA Hydrocarbons Announces Operations Update for Lagia Oil Field Development

CALGARY, ALBERTA--(Marketwire - Feb. 23, 2012) - MENA Hydrocarbons Inc. ("MENA" or the "Company") (TSX VENTURE:MNH) announced further to its news release of January 30, 2012 that the Petroservices 750 HP rig Shams 1 has completed customs inspection and arrived on site at MENA's 100% owned Lagia concession in Egypt. Oil tanks have been placed and further production equipment is expected to arrive prior to the end of February. Operations coordination meetings with all suppliers and contractors for drilling, completions, work overs and production are being held in Cairo next week. Final rig inspection by MENA is expected to be completed in the next 10-14 days, at which time MENA expects to begin a six well program starting with its first re-entry on the Lagia 6 existing well. Two re-entries followed by 4 new drills will comprise the first phase of the Lagia development program.

This press release contains certain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur, including without limitation statements relating to estimated production rates from the Company's properties and intended work programs and associated timelines. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company cannot assure that actual results will be consistent with these forward looking statements. They are made as of the date hereof and are subject to change and the Company assumes no obligation to revise or update them to reflect new circumstances, except as required by law. Prospective investors should not place undue reliance on forward looking statements. These factors include the inherent risks involved in the exploration for and development of crude oil and natural gas properties, the uncertainties involved in interpreting drilling results and other geological and geophysical data, fluctuating energy prices, the possibility of cost overruns or unanticipated costs or delays and other uncertainties associated with the oil and gas industry. Other risk factors could include risks associated with negotiating with foreign governments as well as country risk associated with conducting international activities, and other factors, many of which are beyond the control of the Company.

About MENA Hydrocarbons

MENA Hydrocarbons is an international oil and gas company focused on growing an asset base of production, development and high impact exploration in the Middle East and North Africa region. In Egypt, MENA owns and operates the development lease for the Lagia oil field, a 32 square kilometre onshore block located on the Sinai Peninsula, directly adjacent to the Gulf of Suez. In Syria, MENA owns a 30% participating interest in Block 9 in Syria, a 10,032 square kilometre onshore block prospective for crude oil, natural gas and condensate. In the United States, MENA owns 6,242 gross acres (with an 81.2% average working interest) in Northwestern Montana with light/medium oil reserves, and 36,201 gross acres (with a 99.5% average working interest) in East-Central Utah prospective for both commercial gas sand and coal bed methane. MENA's shares currently trade on the TSX Venture Exchange under the symbol "MNH".

For more information, please see MENA's corporate presentation on www.menahydrocarbons.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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