EQUATORIAL PALM OIL PLC Audited Results

Equatorial Palm Oil plc, the AIM listed palm oil production and development company with operations in Liberia, West Africa announces its audited annual results for the year ended 31 December 2011.

Financial Highlights:

• Maiden revenues achieved from the Company’s first crude palm oil (“CPO”) sales.
• Loss of US$2,167,000 (2010: US$4,401,000).
• Cash held by EPO at year end was US$1,329,000 (2010: US$6,760,000).
• Cash held by Liberian Palm Developments Ltd. (“LPD”), EPO’s 50% joint venture company which holds the oil palm assets, was US$7,854,000 (2010: n/a), excluding a US$10m loan LPD made in October 2011 which has now been repaid in full.

Operational Highlights:

• Successfully planted 1,100 hectares of new oil palms, having re-habilitated over 3,500 hectares of existing palms to provide interim mill feed.
• Completed the implementation of the joint venture agreement with BioPalm Energy Limited (“BioPalm”), a subsidiary of the Siva Group, an Indian conglomerate. BioPalm also committed to a cash injection of US$30m and an additional US$30m loan facility guarantee.
• Strengthened management team with the appointments of Mr. Declan Griffin as Head of Country – Liberia and Mr. Sashi Nambiar as Head of Operations, both with extensive experience managing oil palm estates and large-scale operations.
• Continued progress on local infrastructure including roads, bridges, housing, schools and health clinics.

Outlook:

• Continued expansion of the Palm Bay and Butaw nursery sites to accommodate an increased planting schedule.
• CPO price widely expected to remain strong in the face of production shortfalls and increased demand for sustainable CPO.

Michael Frayne, Executive Chairman of Equatorial Palm Oil commented: “I am pleased to report on the excellent growth that EPO has achieved in 2011. The Company continues to progress from strength to strength at a time of increasing palm oil prices amid a louder calling for sustainable production. The inauguration and final commissioning of Liberia’s only commercial palm oil mill at the Palm Bay Estate puts EPO in a strong position to not only enhance cash flow but to train our employees for future expansion. Furthermore, our progress in planting at the Palm Bay Estate and the expansion of nurseries provides the basis for successful operations in years to come.

Thank you to all of our employees for their hard work and dedication. I look forward to updating the market on continued progress.”