Update on HPD Exploration

Brancote Holdings PLC
22 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 application for the shares of HPD Exploration plc to be traded on OFEX has
been successful and dealings are due to commence on Thursday 4 January 2001.