RNS Number:5014D
Plectrum Petroleum PLC
24 May 2006

                             Plectrum Petroleum Plc

                         Statement re potential placing

The directors of Plectrum Petroleum Plc ('the Company') announce that they are
in the process of finalising a fundraising of up to #2.5 million through the
issue of new ordinary shares, at a price of 14p per ordinary share (the
"Placing").

The proceeds of the Placing will be used to strengthen the Company's balance
sheet, which the directors believe will enhance the Company's position when
negotiating offshore exploration licenses and farm in agreements, in particular
in relation to the Peruvian offshore exploration license Z34, for which the
Company has recently submitted an application, in conjunction with Gold Oil Plc.

The Company will make a further announcement in due course.


Contact:

Corporate Synergy                020 7448 4400
John Prior

Aquila Financial Limited
Peter Reilly                     020 7202 2601

www.plectrum.co.uk



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

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