11 May 2006
Plectrum Petroleum Plc ("Plectrum" or the "Company")
AGM Statement
At today's AGM, Executive Chairman Mike Whyatt made the following statement:
"Following the reverse takeover by Table Mountain Minerals and renaming as Plectrum Petroleum plc in October 2005, we have been actively seeking out exploration opportunities in various regions around the globe.
I am delighted to say that one of these opportunities has landed since the year end. We announced earlier this week that we had signed a joint venture agreement with Gold Oil plc to explore for oil and gas in the deeper waters of the Talara Basin offshore Peru. Plectrum will have a 50% interest in Block Z34.
In addition, we have submitted applications for two large exploration blocks in South West Australia and expect to make a licence application in the UK 24th Licensing Round which closes in June. We are also currently in negotiations to acquire exploration acreage in North Africa. The outcome of these licence applications and negotiations cannot be predicted at this stage, however we are doing all we can to bring these opportunities to a successful conclusion. I hope to report further progress on these opportunities and our activities in Peru throughout the next 12 months".
For further information, please contact:
Plectrum Petroleum Plc
www.plectrum.co.uk
Mike Whyatt, Executive Chairman 01330 826 710
Corporate Synergy
John Prior 020 7448 4400
Aquila Financial Ltd
Peter Reilly 020 7202 2600
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