PPE Proven

RNS Number:5441H
Plectrum Petroleum PLC
13 November 2007


NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO OR
               FROM THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN


13 NOVEMBER 2007


Plectrum Petroleum Plc

Notice of cancellation of trading of securities on AIM


On 7 September 2007, Capricorn Oil & Gas Limited (a subsidiary of Cairn Energy
PLC) ('Capricorn') announced the terms of a recommended cash offer to be made by
Jefferies International Limited ('Jefferies') on behalf of Capricorn for the
entire issued and to be issued share capital of Plectrum Petroleum Plc
('Plectrum Petroleum') at a price of 13 pence per Plectrum Petroleum Share. The
offer document containing details of the offer was posted to Plectrum Petroleum
shareholders on 18 September 2007.

Pursuant to the announcement on 10 October 2007 declaring the recommended cash
offer unconditional in all respects, on 12 November 2007 Plectrum Petroleum
submitted notice to the London Stock Exchange of its intention to cancel the
trading of Plectrum Petroleum Shares on AIM.  As valid acceptances of the Offer
have been received in respect of 90 per cent. or more, both of the nominal value
of the Plectrum Petroleum Shares to which the Offer relates and of the voting
rights carried by such Plectrum Petroleum Shares, Capricorn has sent notices to
non-assenting Plectrum Petroleum Shareholders implementing the procedure set out
in section 979 to 991 of the Companies Act 2006 to acquire compulsorily those
Plectrum Petroleum Shares which have not assented to the Offer

The cancellation of trading of Plectrum Petroleum shares on AIM will take effect
on 14 December 2007, being not less than 20 business days from the date of the
notice submitted to the London Stock Exchange.


Terms used in this announcement shall have the same meaning given to them in the
Offer Document, unless the context requires otherwise.


Director's resignation


Plectrum Petroleum announces that Gordon Hall (non-executive director) has
resigned from the company with immediate effect.


Enquires:

Cairn Energy / Capricorn                          www.cairn-energy.plc.uk
Mike Watts / Jann Brown / Simon Thomson           +44 (131) 475 3000

Plectrum Petroleum Plc                            www.plectrum.co.uk
Mike Whyatt / Jim Bain                            +44 (1330) 826 710.

Blue Oar Securities Plc                           www.blueoarsecurties.co.uk
Mike Coe / Marc Davies                            +44 (117) 933 0020

Jefferies International Limited                   www.jefferies.com
Richard Kent                                      +44 (20) 7618 3713


This announcement is not intended to and does not constitute, or form any part
of, any offer to sell or any solicitation of any offer to purchase or subscribe
for any securities or the solicitation of any vote or approval in any
jurisdiction. Any acceptance or other response to the Offer should be made only
on the basis of the information contained or referred to in the Offer Document
and (in the case of Plectrum Petroleum Shares held in certificated form) the
Form of Acceptance.


The availability of the Offer to persons who are not resident in the United
Kingdom may be affected by the laws of their relevant jurisdiction.  Such
persons should inform themselves of, and observe, any applicable legal or
regulatory requirements of their jurisdiction.  Further details in relation to
overseas shareholders will be contained in the Offer Document.


Unless otherwise determined by Capricorn, and subject to any dispensation
required from the Panel, the Offer is not being made, directly or indirectly, in
or into or by the use of the mails of, or by any means or instrumentality
(including, without limitation, telephonically or electronically) of interstate
or foreign commerce of, or through any facilities of a national securities
exchange of, the United States, Canada, Australia or Japan or any other
jurisdiction if to do so would constitute a violation of the relevant laws of
such jurisdiction. Accordingly, copies of this announcement are not being, and
must not be mailed or otherwise forwarded, distributed or sent in, into or from
the United States, Canada, Australia or Japan and all persons receiving this
announcement (including nominees, trustees and custodians) must not mail or
otherwise forward, distribute or send it in, into or from the United States,
Canada, Australia or Japan. Doing so may render invalid any purported acceptance
of the Offer.  Notwithstanding the foregoing, Capricorn retains the right to
permit the Offer to be accepted and any sale of securities pursuant to the Offer
to be completed if, in its sole discretion, it is satisfied that the transaction
in question can be undertaken in compliance with applicable law and regulation.


Blue Oar, which is authorised and regulated in the United Kingdom by the
Financial Services Authority, is acting exclusively as financial adviser to
Plectrum Petroleum and no one else in connection with the Offer and will not be
responsible to anyone other than Plectrum Petroleum for providing the
protections afforded to clients of Blue Oar or for providing advice in relation
to the Offer.


Jefferies, which is authorised and regulated in the United Kingdom by the
Financial Services Authority, is acting exclusively as financial adviser to
Cairn Energy and Capricorn and no one else in connection with the Offer and will
not be responsible to anyone other than Cairn Energy and Capricorn for providing
the protections afforded to clients of Jefferies or for providing advice in
relation to the Offer.



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

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