AGM Statement

Roxi Petroleum Plc
19 October 2007

Roxi Petroleum Plc

('Roxi' or the 'Company')





AGM Statement


I am pleased to report further strong progress since the announcement of the
interim results on 7 September 2007.



We have made good progress with two of the assets included in our IPO prospectus
in May, both of which are, we believe, highly prospective.



We have also announced two asset acquisitions that have the potential to
transform the profile of the company, in terms of reserves, financial standing
and in growth potential.





Acquisitions



On 22 August we announced the conditional acquisition of three further assets
for an aggregate consideration of $190 million. These acquisitions, because of
their size relative to the size of our company, constitute a reverse takeover
under the AIM Rules and necessitated the temporary suspension in dealing in the
Company's shares.



On 4 October 2007, we announced the further acquisition of an option to acquire
two assets for an aggregate consideration of $425 million.  Again under the AIM
Rules, because of the size of the assets to be acquired compared to the size of
the Company, the exercise of this option could also constitute a reverse
takeover.





Timing of the readmission of the Company's shares to trading on AIM.



Your management team together with the Company's professional advisers are
working to complete the due diligence associated with these asset purchases and
to produce an AIM Readmission Document detailing the Company's existing
businesses and providing appropriate details of the assets to be acquired.  This
is a complex process involving the work of many parties in a number of different
countries.  It also requires the consent of a number of regulatory bodies in the
UK and in Kazakhstan.



It is the number one priority of the board to complete this work in as short a
time as possible without compromising the quality of the work undertaken.
However, it is unlikely that the required Readmission Document will be ready for
publication before the end of November at the earliest. The board has set itself
a deadline of the end of the year to  publish the Readmission Document and for
trading in the Company's shares to resume.





Outlook



Whilst we are focused on finalising the work required to complete the asset
purchases referred to above we have also seen an increase in the number and
quality of the assets acquisition opportunities coming our way.  I believe this
is a testament to the professionalism and competence of the core management
team.



A presentation was given at the AGM. A copy of the slides will be posted on the
Company's website www.roxipetroleum.com



                                                                 19 October 2007

Enquiries:


Roxi Petroleum plc
    Clive Carver                       0203 159 5315

College Hill
    Paddy Blewer                       020 7457 2020

    Nick Elwes                         020 7457 2020


WH Ireland
    James Joyce                        020 7220 1666





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