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19 September 2007

Plectrum Petroleum Plc – Trading Statement

Pursuant to the posting of the document in respect of the recommended cash offer by Jeffries International Limited on behalf of Capricorn Oil & Gas Limited, a subsidiary of Cairn Energy PLC, for the entire issued and to be issued ordinary share capital of Plectrum Petroleum Plc ('the Company'), the Company wishes to provide an update on trading.

During the year to date, cash expenditure has exceeded £2 million with more than £1.5 million spent on oil and gas assets. Progress has been made on all four exploration assets as follows:

Tunisia: REAP Tunisia GmbH, a wholly owned subsidiary of the Company, successfully acquired 3,178 km of 2D seismic survey over the Nabeul Prospection Permit and the field data is currently being processed by Fugro Seismic Imaging Ltd in England. The company has fulfilled the work obligations made to the Ministere de l'Industrie de l'Energie et des PME for the Nabeul Prospection Permit and informed the authorities on 9 July 2007 of its intention to convert the Prospection Permit into an Exploration Permit on 24 January 2008, in accordance with Article 9 of the ''Protocol D'Accord''.

Peru: the first two (of three) rounds of consultation workshops have been held with indigenous communities adjacent to Block Z-34 as part of the environmental impact assessment for the planned 2008 seismic programme of 2,500 km of 2D.

Australia: the Company has tendered the seismic contract to acquire 3,300 km of 2D seismic in the Bremer sub-basin.

UK: the Company has been conducting detailed and regional geological assessments of the prospectivity in and around UK Blocks 214/19 and 214/20.

The interim results for the six months to 30 June 2007 are expected to be announced on 27 September 2007.