HPD Explor. Update - Replacmt

Brancote Holdings PLC
20 December 2000

This release replaces the announcement released at 12.32pm today under RNS
No.1548W which incorrectly stated 40,000 shares in the second bullet point.
The figure in the second bullet point of this announcement has been corrected
to 400,000 shares.


Date               20 December 2000

Contacts                Richard Prickett, Chairman
                        Bill Humphries, Managing Director
                        Brancote Holdings PLC   020 7493 1002

                        David Bick / Chris Steele
                        Holborn Public Relations 020 7929 5599
                                                 [e-mail]
                                                 [e-mail]

BRANCOTE HOLDINGS PLC


Offer for Sale by Brancote Holdings plc of Shares in HPD Exploration plc

The basis of allocation of excess share applications has been determined as
follows:



*        Applications for 32,000 shares or less will be met in full;

*        Applications for more than 32,000 shares and less than 400,000 shares
         will be allotted 32,000 shares; and

*        Applications for 400,000 shares and above have not been successful.

It is anticipated that CREST accounts will be credited on 2 January 2001 and
that share certificates and refund cheques will be dispatched by 4 January
2001.



                                   - ENDS -