Mediterranean Oil & Gas PLC (MOG.LN), the central Mediterranean focused producer, developer and explorer of oil and gas assets, Thursday announced that its subsidiary Medoilgas Italia SpA has signed a gas sales contract with Repower Italia SpA covering the entirety of the Company's net gas production from the Guendalina gas field.

MAIN FACTS:

-The term of the contract is one 'thermal' year, commencing from Oct 1, 2012, and is automatically renewed by a further year unless terminated by either party

-Guendalina Gas Field: Mediterranean Oil & Gas interest 20%; ENI 80% and Operator

-Shares at 0810 GMT up 9.3% at GBP0.06 valuing the company at GBP23 million.

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