Placing of Shares at 67p

Brancote Holdings PLC
11 November 1999


BRANCOTE HOLDINGS PLC ('Brancote/Company')

The directors of Brancote have today completed arrangements for
the placing of 2,865,000 new ordinary shares of 5p each,
credited as fully paid at 67p to raise £1,919,000 million before
expenses ('the Placing').  The shares are being placed by
Seymour Pierce and the Placing is being fully underwritten by
Taheh Holdings Limited.

Commenting on the Placing, Richard Prickett, Brancote's
chairman, said:


'The directors believe that this is an appropriate opportunity
to provide the Company with additional working capital to ensure
the continuity of our expanded exploration and drilling
programmes.'


Contacts:

Richard Pricket (Chairman - Brancote)                     0171 493 1002

William Humphries (Chief Executive - Brancote)              0171 493 1002

Brian Moritz (Grant Thornton - Nominated Advisers)       0171 383 5100

Richard Feigen (Seymour Pierce - Nominated Brokers)       0171 648 8700