NOT FOR DISSEMINATION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES


MENA Hydrocarbons Inc. ("MENA" or the "Company") (TSX VENTURE:MNH) announces
that it is proceeding with a private placement financing of units at a price of
$1,000 per unit for aggregate gross proceeds of up to $8.0 million (the
"Offering"). MENA has engaged Macquarie Private Wealth Inc. (the "Agent") to
sell, on a commercially reasonable efforts agency basis, up to 5,000 units for
gross proceeds of up to $5.0 million (the "Brokered Offering"). The balance of
the financing, consisting of 3,000 units for gross proceeds of $3.0 million, is
expected to be completed by MENA on a non-brokered basis (the "Non-Brokered
Offering").


Each unit will consist of $1,000 principal amount of convertible unsecured
subordinated debentures (the "Convertible Debentures") and 2,778 common share
purchase warrants ("Warrants"). The Convertible Debentures will mature July 31,
2017, bear interest at a rate of 10% payable semi-annually in arrears on the
last day of July and January of each year, commencing on July 31, 2012, and be
convertible at any time at the option of the holder into 5,556 common shares of
MENA ("Common Shares") representing a conversion price of $0.18 per Common
Share. Prior to the maturity date, the Convertible Debentures may be redeemed at
the option of MENA, in whole or in part from time to time, on not more than 60
days and not less than 30 days prior notice, at a price equal to their principal
amount plus accrued and unpaid interest to, but excluding, the date fixed for
redemption, provided that the volume weighted average trading price of the
Common Shares on the TSX Venture Exchange for the 20 consecutive trading days
ending five trading days prior to the date of determination is not less than
200% of the Conversion Price. All payments of interest and repayment of
principal amount owing in respect of the Convertible Debentures will be made in
cash. Each Warrant will be exercisable into one Common Share for a period of two
years from the date of issue at an exercise price of $0.25 per share.


In connection with the Brokered Offering, the Agent will receive a cash
commission equal to 7% of the gross proceeds raised under the Brokered Offering.
The Agent will also receive non-transferable broker warrants ("Broker Warrants")
equal to 3% of the number of Common Shares that would be issued if all of the
Convertible Debentures sold pursuant to the Brokered Offering are converted to
Common Shares. The Broker Warrants will be exercisable for a period of 24 months
from the date of issue at a price of $0.18. The Agent will also be paid a
corporate finance fee and will be reimbursed for its expenses in relation to the
Brokered Offering.


MENA may elect to pay finders' fees payable in cash to arm's length parties in
connection with the Non-Brokered Offering as permitted under the policies of the
TSX Venture Exchange.


The Convertible Debentures, Warrants, Broker Warrants and Common Shares issued
on the conversion or exercise of such securities will be subject to a hold
period of four months and one day from the closing date in accordance with the
rules and policies of the TSX Venture Exchange and applicable Canadian
securities laws.


Proceeds of the Offering will be used to fund MENA's development plan for the
Lagia Development Lease in Egypt and for general corporate purposes.


Completion of the Brokered Offering and the Non-Brokered Offering are subject to
the satisfaction of customary conditions precedents to closing including TSX
Venture Exchange acceptance.


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". 


Forward looking information 

This news release contains forward-looking information relating to the proposed
private placement financings and other statements that are not historical facts.
Such forward-looking information is subject to important risks, uncertainties
and assumptions. The results or events predicated in this forward-looking
information may differ materially from actual results or events. As a result,
you are cautioned not to place undue reliance on this forward-looking
information.


Forward-looking information is based on certain factors and assumptions
regarding, among other things, the impact of increasing competition; the general
stability of the economic and political environments in which the Company
operates or owns interests; the timely receipt of any required regulatory
approvals; the ability of the Company to obtain qualified staff, equipment and
services in a timely and cost efficient manner; drilling results; the ability of
the operator of the projects which the Company has an interest in to operate the
field in a safe, efficient and effective manner; the ability of the Company to
obtain financing on acceptable terms; field production rates and decline rates;
the ability to replace and expand oil and natural gas reserves through
acquisition, development of exploration; the timing and costs of pipeline,
storage and facility construction and expansion and the ability of the Company
to secure adequate product transportation; future oil and natural gas prices;
currency, exchange and interest rates; the regulatory framework regarding
royalties, taxes and environmental matters in the jurisdictions in which the
Company operates; and the ability of the Company to successfully market its oil
and natural gas products, and other similar matters. While the Company considers
these assumptions to be reasonable based on information currently available to
it, they may prove to be incorrect.


Forward looking-information is subject to certain factors, including risks and
uncertainties that could cause actual results to differ materially from what is
currently expected. These factors include risks associated with instability of
the economic and political environments in which the Company operates or owns
interests, oil and gas exploration, development, exploitation, production,
marketing and transportation, loss of markets, volatility of commodity prices,
currency fluctuations, imprecision of reserve estimates, environmental risks,
competition from other producers, inability to retain drilling rigs and other
services, incorrect assessment of the value of acquisitions, the inability to
settle the definitive terms of the farmout arrangements, failure to realize the
anticipated benefits of acquisitions, delays resulting from or inability to
obtain required regulatory approvals and ability to access sufficient capital
from internal and external sources, reliance on key personnel, regulatory risks
and delays, including risks relating to the acquisition of necessary licenses
and permits, environmental risks and insurance risks.


You should not place undue importance on forward-looking information and should
not rely upon this information as of any other date. While the Company may elect
to, the Company is under no obligation and does not undertake to update this
information at any particular time, except as required by law. 


This press release shall not constitute an offer to sell or the solicitation of
an offer to buy any securities, nor shall there be any sale of securities in any
state in the United States in which such offer, solicitation or sale would be
unlawful. The securities referred to herein have not been and will not be
registered under the United States Securities Act of 1933, as amended, and may
not be offered or sold in the United States absent registration or an applicable
exemption from registration requirements.