Corporate Update

Roxi Petroleum Plc
17 January 2008



Roxi Petroleum plc
('Roxi' or 'the Company')


Corporate Update


The Company is pleased to announce that the work required to complete on the
proposed acquisition of Eragon Petroleum plc is nearing completion.


The required regulatory approvals for the Eragon acquisition have been received
from the  Kazakh authorities. The Existing Ordinary Shares of the Company will
resume trading on publication of the Admission Document which the Directors
expect to take place later this month. Subject to shareholder approval, the
shares to be issued in connection with the proposed Eragon acquisition will be
admitted to trading following an Extraordinary General meeting which the
Directors expect to be convened in February.


Rob Schoonbrood, CEO of Roxi Petroleum commented,


'We look forward to completing the acquisition of Eragon and the readmission of
the Company's shares. The faith shown in our acquisitive strategy by our Kazakh
partners is extremely heartening - we look forward to repaying that trust as we
continue to develop our portfolio of assets.'



                                                                 17 January 2008


Enquiries:


Roxi Petroleum Plc
Clive Carver                                    Tel:  [phone]

College Hill Associates
Paddy Blewer / Nick Elwes                       Tel: [phone]

W H Ireland Ltd
James Joyce/David Porter                        Tel: [phone]




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