Cancellation of trading

RNS Number:5569H
MedOil PLC
13 November 2007

                              
             Notice of cancellation of trading of securities on AIM

On 7 September 2007, Capricorn Petroleum Limited (a subsidiary of Cairn Energy
PLC) ("Capricorn") announced the terms of a recommended cash offer to be made by
Jefferies International Limited ("Jefferies") on behalf of Capricorn for the
entire issued and to be issued share capital of medOil plc ("medOil") at a price
of 23 pence per medOil Share. The offer document containing details of the offer
was posted to medOil Shareholders on 18 September 2007.

Pursuant to the announcement on 10 October 2007 declaring the recommended cash
offer unconditional in all respects, medOil has today submitted notice to the
London Stock Exchange of its intention to cancel the trading of medOil Shares on
AIM. As valid acceptances of the Offer have been received in respect of 90 per
cent. or more, both of the nominal value of the medOil Shares to which the Offer
relates and of the voting rights carried by such medOil Shares, Capricorn has
sent notices to non-assenting medOil Shareholders implementing the procedure set
out in section 979 to 991 of the Companies Act 2006 to acquire compulsorily
those medOil Shares which have not assented to the Offer

The cancellation of trading of medOil shares on AIM will take effect on 14
December 2007, being not less than 20 business days from the date of the notice
submitted to the London Stock Exchange.

Terms used in this announcement shall have the same meaning given to them in the
Offer Document, unless the context requires otherwise.

Enquires:

Cairn Energy / Capricorn                        www.cairn-energy.plc.uk
                                                -------------------------
Mike Watts / Jann Brown / Simon Thomson         [phone]

medOil plc                                      www.medoilplc.com
Dave Thomas                                     [phone]

Arden Partners plc                              www.arden-partners.co.uk
Chris Hardie / Adrian Trimmings                 [phone]

Jefferies International Limited                 www.jefferies.com
                                                -------------------
Richard Kent                                    [phone]

This announcement is not intended to and does not constitute, or form any part
of, any offer to sell or any solicitation of any offer to purchase or subscribe
for any securities or the solicitation of any vote or approval in any
jurisdiction. Any acceptance or other response to the Offer should be made only
on the basis of the information contained or referred to in the Offer Document
and (in the case of medOil Shares held in certificated form) the Form of
Acceptance.

The availability of the Offer to persons who are not resident in the United
Kingdom may be affected by the laws of their relevant jurisdiction. Such persons
should inform themselves of, and observe, any applicable legal or regulatory
requirements of their jurisdiction. Further details in relation to overseas
shareholders will be contained in the Offer Document.

Unless otherwise determined by Capricorn, and subject to any dispensation
required from the Panel, the Offer is not being made, directly or indirectly, in
or into or by the use of the mails of, or by any means or instrumentality
(including, without limitation, telephonically or electronically) of interstate
or foreign commerce of, or through any facilities of a national securities
exchange of, the United States, Canada, Australia or Japan or any other
jurisdiction if to do so would constitute a violation of the relevant laws of
such jurisdiction. Accordingly, copies of this announcement are not being, and
must not be mailed or otherwise forwarded, distributed or sent in, into or from
the United States, Canada, Australia or Japan and all persons receiving this
announcement (including nominees, trustees and custodians) must not mail or
otherwise forward, distribute or send it in, into or from the United States,
Canada, Australia or Japan. Doing so may render invalid any purported acceptance
of the Offer. Notwithstanding the foregoing, Capricorn retains the right to
permit the Offer to be accepted and any sale of securities pursuant to the Offer
to be completed if, in its sole discretion, it is satisfied that the transaction
in question can be undertaken in compliance with applicable law and regulation.

Arden Partners plc, which is authorised and regulated in the United Kingdom by
the Financial Services Authority, is acting exclusively as financial adviser to
medOil and no one else in connection with the Offer and will not be responsible
to anyone other than medOil for providing the protections afforded to clients of
Arden Partners plc or for providing advice in relation to the Offer.

Jefferies, which is authorised and regulated in the United Kingdom by the
Financial Services Authority, is acting exclusively as financial adviser to
Cairn Energy and Capricorn and no one else in connection with the Offer and will
not be responsible to anyone other than Cairn Energy and Capricorn for providing
the protections afforded to clients of Jefferies or for providing advice in
relation to the Offer.

End: 13 November 2007



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