First day of Dealings

Roxi Petroleum Plc
03 March 2008

Roxi Petroleum PLC

First Day of Dealings

Roxi Petroleum plc ('Roxi' or 'the Company'), the Kazakhstan based oil
exploration and development company, is pleased to announce the first day of
dealings in the shares of the Enlarged Group on the  AIM Market of the London
Stock Exchange , following the passing on 29 February 2008 of all the
resolutions relating to its acquisition of 59% of Eragon Petroleum plc 
('Eragon')

Roxi has acquired a 59% controlling interest in Eragon, the holding company for
three exploration and development assets in Western Kazakhstan.
     
-    First day of dealings post acquisition of 59% of Eragon for US$190m
     satisfied by the allotment of 145m ordinary shares at 65 pence per share
     
-    Market capitalisation of (£70.4m) at an Admission price of ( 22) pence
     per share (being the closing price on 29 February 2008)
     
-    Approval of a waiver of the obligation to make a mandatory offer under
     Rule 9 of the City Code on Takeovers and Mergers granted.

-    Eragon assets include:
          
     o    Three Contract Areas: BNG, Galaz and Munaily - in aggregate 
          1,453 km(2)

     o    Located in the Pre Caspian and the Turgai basins - established
          petroleum provinces

     o    Considerable exploration, development, and near term production
          potential:

     •    BNG: 21 exploration leads

     •    Galaz: Discovery with near term production potential

     •    Munaily: Field rehabilitation

See appendix 1 for further details
          
-    In addition to its original projects of one oil field with development
     and exploration potential and one exploration block announced at IPO, Roxi 
     now has controlling interests in three oil fields and two exploration 
     blocks with clear potential for further development.

ADMISSION STATISTICS

Number of Existing Ordinary Shares                                      168,207,490
Number of Consideration Shares                                          145,000,000
Price per share at which Consideration Shares issued                    65p
Project Management Shares issuable on Admission                         6,923,077
Number of Ordinary Shares on Admission                                  320,130,567
Consideration Shares and Project Management Shares issuable on          47.46%
Admission as a percentage of the Enlarged Share Capital
Market capitalisation of the Company following Admission at the closing £(70.4m)
share price on 29 February 2008

Consulting Option Shares                                                24,000,000
Consideration Shares, Project Management Shares issuable on Admission   51.12%
and Consulting Option Shares as a percentage of the then issued share
capital

Rob Schoonbrood, CEO of Roxi Petroleum plc commented,

'We are delighted to have completed the transaction, and now look forward to
developing the assets, and revealing the upside that we strongly believe to be
in place, thereby adding considerable value to our shareholders.

The reworking and rehabilitation of Soviet era works is a recognised investment
play, and we belive that Eragon could provide the same or better base for
success as has been seen in UK listed markets.

We look forward to working together with our JV partners, and remain entirely
committed to Kazakhstan and further adding to our portfolio of assets, as and
when the correct deal is considered.'

                                                                    3 March 2008
Enquiries:

Roxi Petroleum plc
    Rob Schoonbrood, CEO                [phone]
    David Barker, COO                   [phone]

College Hill (Financial PR)
    Paddy Blewer                        [phone]

    Nick Elwes                          [phone]


WH Ireland (NOMAD and broker)
    James Joyce/David Porter            [phone]


For details of the transaction, please see below. For the full admission
document, please visit the Company's website: www.roxipetroleum.com

Appendix 1 - The Eragon Assets

The Eragon Assets comprise the BNG Contract Area, the Galaz Contract Area, and
the Munaily Contract Area, covering approximately 1,453 km(2).

The BNG Contract Area

The BNG Contract Area covers an area of over 1,422 km2 and is located
approximately 40 km from the Tengiz oilfield in the Pre-Caspian basin of West
Kazakhstan. The BNG Contract Area is adjacent to numerous producing fields or
discoveries under appraisal.

The BNG Contract Area is considered by the Directors to be highly prospective in
both the Jurassic sandstone at depths of 2,500-3,000m and in the pre-salt
Carboniferous sandstones and carbonates at depths of 4,000-5,000m. Exploration
in this area since the 1980s has resulted in the development of several Jurassic
discoveries in the surrounding acreage. Earlier evaluations included in the
Kazakhstan state tender information for the BNG Contract Area, predicted that up
to 700mmbbls (95MMtons) of oil may be trapped on the block. The BNG Contract
Area is an exploration block and no reserves have been assigned to it. However,
to date the Company has identified 21 leads and prospects from the existing data
acquired through technical due diligence.  BNG plans to carry out a four to
eight year exploration programme from 2007, which will include collection and
evaluation of existing data in 2008, followed by exploration 2D and 3D Seismic
in 2008-2009, prior to exploration drilling in 2010-2015.

Proposed extension to the BNG Contract Area

The Company has acquired an option to extend the BNG Contract Area for $60
million. The proposed extension of the BNG Contract Area has been identified as
being a continuation of the existing exploration trends in the block and covers
an area of approximately 139km2.   The proposed extension contains two Jurassic
and two Pre-salt prospects which the Directors consider excellent exploration
potential. The extension to the BNG Contract Area will help to consolidate the
exploration strategy in the BNG Contract Area and in the opinion of the
Directors significantly increases the potential for early exploration success,
the addition of reserves and early trial production.

The Galaz Contract Area

The Galaz Contract Area is located in the Turgai Basin, covers approximately
30km2 and is located approximately 120 km north of Kyzylorda in the heart of the
petroleum producing fields of that region.  The Galaz Contract Area contains the
NW Konys field which was discovered in 1992 directly north west of the Konus
field.

Four wells were drilled on the Galaz Contract Area in the early 1990s, with
three delineating the oil-water-contact and one well drilled higher on the
structure tested at rates of up to 70m3/d (440bopd). However, the field was
never developed. Well 27 has been tested and has pumped paraffinic 40(degrees) 
API oil on test, from 8m of net Jurassic sands. Well 27 produced at rates up to 
310 bopd from a depth of approximately 1310m (measured depth) for a period of 
one month.

Indications of an oil accumulation in the Lower Cretaceous Neocomanian
sandstones were encountered in well 29, which needs to be confirmed with further
drilling. Both reservoirs are producing in surrounding fields. Galaz has
recently recommenced work-over operations on the field, on wells 27 and 26, to
test the Jurassic reservoir.

A Kazakh Institute report estimates that there are currently 12.5mmbbls of C2
reserves on the NW Konys field. A recalculation of reserves has been carried out
to SPE standards. Proven, probable and possible reserves of 7.9mmbbls are
detailed in the Competent Persons Report.

The Company intends to shoot a 3D seismic survey over the field in 2008 to
confirm the structure and reservoir distribution and also to commence appraisal/
development drilling.

The Munaily Contract Area

The Munaily Contract Area covers 0.69 km2 and lies approximately 60km southeast
of the town of Kulsary in Atyrau oblast. The Munaily field was first discovered
in 1946. By 2002 the field had produced a cumulative of 10mmbbls of 24 (degrees) 
to 41 (degrees) API oil, from 11 shallow Cretaceous, Jurassic and Triassic aged 
sands between 500m and 1650m.

The Munaily SSUC was acquired specifically to evaluate and rehabilitate the
field. Unproduced Cretaceous and Jurassic sands are targeted for exploration and
appraisal.  The Company plans to complete the existing drilling and work-over
programme and to re-evaluate the potential of the field.



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