RNS Number:7009H
Plectrum Petroleum PLC
16 August 2006


PRESS RELEASE

For immediate release: 16 August 2006

Plectrum Petroleum Plc ("Plectrum", "The Company", or "The Group")


              Plectrum completes acquisition of REAP Tunisia GmbH


Plectrum Petroleum is pleased to announce that it has completed the acquisition
of REAP Tunisia GmbH ("REAP Tunisia") to gain a 50 per cent interest and the
operatorship of the Nabeul block, offshore Tunisia.

Under the terms of the agreement, outlined in announcements on 25 July and 12
June 2006, Plectrum has acquired 90 per cent of the issued share capital of REAP
Tunisia, the organisation holding the 50 per cent interest in the Nabeul Block,
located in the Gulf of Hammamet, offshore Tunisia.

The consideration for the acquisition is a cash payment of #250,000 and the
agreement to spend #2.5 million on a work programme. The Vendor will also retain
an overriding royalty interest in the permit.

Plectrum Petroleum's work programme includes the reprocessing of existing
seismic data, the acquisition of conventional modern 2D seismic and modelling to
confirm the suitability of Electro-Magnetic Imaging and Marine Magnetotelluric
in the Block.

The other 50 per cent interest in the Nabeul Block is held by the Tunisian
government oil and gas company Entreprise Tunisienne d'Activites Petrolieres.

Mike Whyatt, Plectrum's Executive Chairman said: "I am delighted to announce the
completion of this acquisition. This highly-prospective acreage is a key
strategic addition to our asset portfolio, where we believe the use of
innovative exploration techniques can significantly de-risk prospects prior to
drilling. We can now work towards our goal of better defining the oil volumes in
several prospective structures already identified in the Block prior to
committing to an exploration well."


For further information, please contact:

Plectrum Petroleum Plc                                            01330 826 710
Mike Whyatt, Executive Chairman
Mike Evans, Chief Operating Officer
www.plectrum.co.uk

Aquila Financial Ltd                                              020 7202 2600
Peter Reilly
Vivienne Macey
www.aquila-financial.com

Corporate Synergy                                                 020 7448 4400
Olly Cairns
David Seal


Notes to editors:

The Nabeul Block

The Nabeul Block covers 3352 km2 (equivalent to 13 North Sea Blocks) and is in
water depths of 250-800m. The initial Prospection Permit phase runs until 24
January 2008 and three further exploration periods of up to five years each are
also available. Several prospective structures have already been identified in
the Birsa sand fairway play in the Block that are capable of trapping oil
volumes in excess of 100 mmboe.

A map of the Nabeul Permit Location can be accessed at www.plectrum.co.uk


Plectrum Petroleum

Plectrum Petroleum plc is based in Aberdeen, Scotland and listed on the London
Stock Exchange Alternative Investment Market under the ticker 'PPE'.

Plectrum intends to make full use of newly emerging technologies such as Electro
-Magnetic Imaging as an additional screening tool, applying it to a balanced 
global portfolio of offshore exploration opportunities in order to high-grade 
and take forward only the very best exploration prospects.




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

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