Trading Update

LEPCO plc 9 August 2000 LEPCO plc ('the Company') TRADING UPDATE Update on activity on block 47/9c in the UK Southern gas basin and bid in the UK 9th onshore licensing round. The Company is pleased to announce the outcome of its evaluation programme on block 47/9c in the UK Southern Gas Basin. The Company announced on 9 May that, as the newly appointed Operator of block 47/9c it had commenced a full re-evaluation of 3-D seismic and other data held over this block. This evaluation programme has been undertaken by IKODA Limited under the management of Dr Richard Stabbins, formerly Exploration Director of Goal Petroleum plc. The Company has now concluded that block 47/9c contains a potentially commercial gas discovery and has advised the UK Department of Trade and Industry that it is committing to drill a well on the block subject to finding suitable farm-in partners. The Company is also pleased to announce that it has been advised by the UK Department of Trade and Industry that it has been successful in its application for acreage in the UK 9th Onshore Licensing Round and has been offered a 20 per cent interest in a licence over 11 blocks. Further details on the acreage will be released shortly upon completion of final award of the licence. For further information contact: Peter Wilde LEPCO plc 020 7233 5245 Graham Cole Beeson Gregory 020 7488 4040

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