RNS Number:6746M
Indago Petroleum Limited
28 January 2008

28 January 2008


                            Indago Petroleum Limited
                                   (AIM: IPL)

                              Share Price Movement

The Board of Indago Petroleum Limited ('Indago' or 'the Company'), the oil and
gas exploration company, notes the recent movement in the Company's share price.
The Board believes that the share price movement may result from speculation
regarding the drilling of the Company's Al Jariya well on the Jebel Hafit
prospect in the Sultanate of Oman. The Company owns an approximate 50% interest
in Block 31 which contains the Jebel Hafit prospect.


The Company issued a press release about the status of the Al Jariya well on 28
December 2007. The Company advises that drilling is still in progress on the
well and that it has no further information about the future results of the
well.



Enquiries:

Indago Petroleum Limited

Tim Eggar, Chairman                          +44 20 7632 1521

David Bremner, CEO                           +1 805 708 4892

Martin Groak, CFO                            +44 7949 209 301


JPMorgan Cazenove Limited                    +44 20 7588 2828

Barry Weir

Neil Haycock


Nabarro Wells                                +44 20 7710 7406

Marc Cramsie


College Hill Associates                      +44 20 7457 2020

Nick Elwes

Paddy Blewer


Website: www.Indagopetroleum.com


Notes to Editors:



Indago Petroleum


Indago Petroleum Limited is an oil and gas exploration company listed on the AIM
market of the London Stock Exchange.  The Company is geographically focused in
the Middle East, currently exploring in the Sultanate of Oman, a politically
stable country with proven hydrocarbon reserves and an active gas market.


Following the disposal of its production and development assets and just over
50% of its exploration assets to RAK Petroleum PCL ('RAK Petroleum' or 'the
Operator') in April 2007, Indago currently has an approximate 50% stake in three
exploration blocks onshore Oman (Blocks 31, 47 & 43A) operated by RAK Petroleum.


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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