Nabeul Block Resources Update

RNS Number:5559S
Plectrum Petroleum PLC
08 March 2007



PRESS RELEASE

8 March 2007



                         Nabeul Block Resources Update

                         Notice of preliminary results


Plectrum Petroleum plc ("Plectrum" or "the Company"), the independent oil and
gas exploration company, is pleased to announce that has acquired the remaining
10 per cent. of REAP Tunisia GmbH ('REAP Tunisia') that it did not already own,
for a nominal amount.

In June 2006, Plectrum acquired 90 per cent of REAP Tunisia and thereby acquired
a 50% interest in the Nabeul Block ('Nabeul') offshore Tunisia.

Since the acquisition in June 2006, reprocessed seismic data over Nabeul has
increased the number of prospects from four to twelve and a 3,000 km 2D seismic
survey over the block will commence in Q3 2007. In addition, on Plectrum's
behalf, TRACS International ("TRACS") have reviewed the prospects and reported
that two of the prospects, prospects 1 and 4, could contain mean prospective
resources of 71 million barrels of oil and 82 million barrels of oil
respectively and have a combined Expected Monetary Value ("EMV") of US$163
million at a US$50/barrel price. The total EMV of the 12 prospects estimated by
TRACS is $249 million.

Plectrum will be announcing its preliminary results for the year ended 31
December 2006 on Thursday 29 March 2007. These results will include a summary of
the Company's prospective resources in Nabeul as reported by TRACS.

A research report commissioned by the Company has today been published by Growth
Equities and Company Research and will shortly be available on the Company's
website.


Enquiries:


Plectrum Petroleum Plc Tel: [phone]

Mike Whyatt, Executive Chairman

Jim Bain, Finance Director

www.plectrum.co.uk


Aquila Financial Limited

Peter Reilly Tel: [phone]

Yvonne Fraser Tel: [phone]

www.aquila-financial.com


Corporate Synergy Plc

Olly Cairns Tel: [phone]



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