Admission to AIM

Roxi Petroleum Plc
22 May 2007

Roxi Petroleum PLC

Admission to AIM



Roxi Petroleum ('Roxi' or 'The Company'), the Kazakhstan based oil exploration
and development/production company, is very pleased to announce its admission to
the AIM Market of the London Stock Exchange today. At Admission, Roxi raised
£38.9 million (gross of expenses) and is capitalised at approximately
£63.9million at the placing price of 38p per share. WH Ireland is acting as
Nominated Adviser and Broker to the Company.


Overview:

• Roxi will use IPO funds to build a portfolio of joint ventures in Kazakhstan, 
  primarily  previously discovered oil  fields with both development and 
  exploration upside

• Company strategy is to upgrade and increase initial booked reserves through 
  appraisal, exploration seismic, and drilling.

• Post IPO, a significant portion of the funds will be used to begin building  
  the portfolio by acquiring 50% economic interest in two oil fields and one 
  exploration block in the Caspian region of Kazakhstan

• The contracted areas will total approximately 295 squared km.

• The initial acquisitions are in different stages of development, facilitating 
  efficient utilization of resources, personnel, and services.

• Roxi intends to add to its portfolio and acquire further fields with 
  development potential with respected business partners in Kazakhstan



Roxi was created to acquire controlling interests in and develop oil and gas
assets in Central Asia, with a focus on Kazakhstan. The initial strategy will
be to target projects which have oil discoveries and exhibit a potential for
considerable development and / or exploration upside. This strategy will allow
the Company to rapidly add value to its projects by upgrading reserves levels
and planning for the earliest possible production date.

The Company's senior management team has significant experience in the region
and industry having worked across a diversified number of countries and climates
including Kazakhstan, the Middle East, Europe, the former Soviet Union, Russia,
Africa, and the United States with major oil companies including Royal Dutch
Shell, BP, Mobil, and a variety of joint venture operations.

Roxi will acquire a 50% economic interest with contractual and operational
control over three previously agreed contract areas located in the Caspian
region of Kazakhstan, each of which is at a different stage of its exploration
programme. In aggregate, the Contract Areas cover approximately 295 square
kilometres, and currently have probable and possible gross reserves of
approximately 24.8 Mmbbls of oil as well as contingent resources of up to 10
Mbbls of oil.



The Ravninnoe Contract Area covers 121 km2 and is located approximately 100 km
northeast of the Tengiz field in the south Emba sub-basin of the Pre-Caspian
Basin, in the Atyrau Oblast of West Kazakhstan. Roxi is committed to drilling 5
wells in the exploration phase of the licence. In addition to the appraisal and
the potential for early production from the established pre-salt reservoirs,
there is also a significant upside in deeper fractured targets making Ravninnoe
an exciting block.

North Karamandybas Contract Area: covers approximately 7.2 km2 and is situated
in the South Mangishlak Basin, Karakigansky Rayon of the Mangistau Oblast
approximately 120 km east of Aktau. Roxi is committed to drilling 3 wells.
Situated close to existing infrastructure the field is ideally located for early
development.

Beibars Contract Area: covers approximately 167 km2 and is situated on the
coastline of the Caspian Sea approximately 40 kilometres south of Aktau in the
Mangistau Oblast. Beibars is a pure exploration play, which the Directors
believe has significant upside potential.

The acquisition of the Ravninnoe and Beibars Contract Areas will be completed
following Admission and the payment of consideration.  The acquisition of the
North Karamandybas Contract Area will be completed at the discretion of the
Company pending the successful resolution of legal proceedings in connection
with title to the area.





Expansion Strategy



In addition to the current acquisition and work programme, the management
believe there are significant opportunities to acquire additional interests in
further fields in Central Asia and aim to take advantage of its management,
operational and transportation expertise in addition to relationships with joint
venture partners and the management's acquisition experience in the region to
become a significant oil and gas concern.




Details of placing


Placing Price                                            38p per share
Number of Placing Shares                                 102,444,332
Number of Ordinary Shares on Admission                   168,207,490
Estimated cash proceeds of the Placing receivable by the £36.1m
Company (net of expenses)
Market capitalisation of the Company at Admission at the £63.9m
Placing Price
AIM symbol                                               RXP
ISIN for the Ordinary Shares                             GB00B1W0VW3







Rob Schoonbrood, CEO of Roxi Petroleum commented,

'We are delighted to have gained such positive support from the market for our
development plans.

With modern oil company management and technical work we believe there is
considerable development and exploration upside available in multiple fields
throughout the region.

We believe that as Kazakhstan continues to develop its oil and gas
infrastructure, more opportunities for development will come our way. We will
constantly evaluate new ventures, with the intention of becoming a significant
company in the regional oil business and London AIM market.'



                                                                     22 May 2007



Enquiries:

Company name

Roxi Petroleum plc
    Rob Schoonbrood, CEO               020 3159 5315 UK / 7 327 
                                       278 1022 KZ
    David Barker, COO                  020 3159 5315 UK / 7 327 
                                       278 1022 KZ

College Hill
    Paddy Blewer                       020 7457 2020
    Nick Elwes                         020 7457 2020


WH Ireland
    James Joyce                        020 7220 1666


Biographies of the management

Clive Carver (aged 46) Non-Executive Chairma


Mr Carver qualified as a chartered accountant with Coopers and Lybrand in London
1986. Since then, he has focused on the corporate finance and corporate broking
arena, including working for Kleinwort Benson and Price Waterhouse Corporate
Finance.

He spent five years at Seymour Pierce, where he was a director and head of
corporate finance and five years at Williams de Broe, where he was head of
corporate finance and corporate sales. At Williams de Broe he led the team
floating and fund raising for a number of natural resource companies.

Additionally, Clive is a qualified corporate treasurer



Rob Schoonbrood (aged 62) Chief Executive Officer

Mr Schoonbrood has nearly 40 years energy sector experience, primarily in oil
and gas exploration and production, having spent the first 30 years of his
career with the Royal Dutch Shell Group. He has held a variety of positions
including Business Development Manager of Oil Products East for Shell
International Petroleum Company in London and Chief Executive of Shell Markets
Middle East/ Shell Trading Middle East in Dubai.

He left the Royal Dutch Shell Group in 1999 and since then has acted as an
independent business consultant, advising on a number of deals and for a variety
of companies in Kazakhstan. This includes initiating and implementing a Crude
Oil swap agreement between Kazakhstan and Iran on behalf of CJSC Munai Impex and
acting as a Senior Advisor to the management of PetroKazakhstan, with an
emphasis on business with Iran, Kazakhstan and China.

He also acted as President of Unioil AG, an independent oil transport and
trading company focusing on niche business around the Caspian Sea, from
2002-2003 and was Operations Director of Cobalt Energy Group, a US based
wholesale company, from 2004-2005.



David Barker (aged 52) Chief Operating Officer

Mr Barker has nearly 30 years experience in the oil and gas industry. His early
career included petroleum operations and production engineering positions with
Mobil Oil Corporation and Mitchell Energy Corporation. He has served in senior
management positions in publicly traded companies for over 15 years including
President of an oil and gas company in the United States. More recently he has
direct experience in Kazakhstan initially as an oil and gas consultant. He
served as the General Director of Operations in Kazakhstan and as the Director
of the local subsidiaries for Big Sky Energy Corporation.



Kuat Rafikuly Oraziman (aged 45) Non-Executive Director

Mr. Oraziman has nearly 20 years of business experience in Kazakhstan and abroad
and nearly 10 years of oil and gas experience in Kazakhstan. Mr. Oraziman's
experience has included the operation of import and export businesses, the
establishment and operation of an international brewery in Kazakhstan, and as
the Kazakhstan representative of Phillips and Stork.

Since 1991 Kuat Oraziman has been a director of ADA OIL LLP a joint venture oil
and gas partnership with LG International which owns and operates exploration
and production oil and gas assets located in Kazakhstan. Kuat Oraziman also
holds a doctorate in science and is a trained geologist


Duncan McDougall (aged 48) Technical Director


Mr McDougall has 25 years international experience of exploration, appraisal,
and development of oilfields in a variety of environments. He began his career
in the North Sea with Charterhouse Petroleum and BP Exploration as exploration
and development geologist. For the past 15 years, he has been advising, through
his firm Saxford Limited, a large variety of companies on the purchase and
development of oil and gas assets in Africa, Europe, the Far East and Asia, with
the large majority in the Former Soviet Union region.

Brian Martin Paul Garvey CIMA, Group Financial Manager, age 55

Brian Garvey is a member of the Chartered Institute of Management Accountants
(C.I.M.A). He has over 30 years of financial and management accounting
experience. Over the last 12 years he has worked in Kazakhstan, Russia and other
areas of the former Soviet Union as Financial Controller/Director of publicly
traded and private companies.




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