MENA Hydrocarbons Inc. ("MENA" or the "Company") (TSX VENTURE:MNH) announces
that the agreement to acquire a 55 percent participating interest in an offshore
development lease located 60km off the Mediterranean coast of Egypt expired
December 31, 2011, the deadline date for obtaining consent from the Egyptian
General Petroleum Company to the assignment. Graham Lyon, President & Chief
Executive Officer of MENA, commented that "While it is disappointing the vendor
was unable to attain the assignment within the time permitted, MENA continues to
seek value creating acquisitions and has several attractive opportunities under
review." 


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.