ADV.L Regulatory News (ADV)

2 September 2015

CEB Resources plc

("CEB" or the "Company")

Update

CEB Resources plc, the AIM listed investing company, is pleased to provide an update on its strategy and progress in identifying oil and gas projects in Indonesia.

Highlights:

· Initial goals of the 100 Day plan have been achieved and work now continues apace in Indonesia;

· Strategic plan devised targeting short-term cash flow from existing oil production and long-term value potential assets particularly focussed on the Indonesian gas market;

· Over 65 individual opportunities have been screened and a detailed assessment of 9 high graded targets is well advanced;

· Farm-in offer for one asset is now under consideration by its existing owners;

· Core team has experience spanning over 250 years' global experience and has established vital in-country presence to facilitate projects in Indonesia.

CEB's CEO, David Whitby, said: "The Indonesian oil and gas market, and particularly gas, represents a significant opportunity for the Company. Our work thus far has validated our strategic plan, with results to date having surpassed our expectations. Whilst recent oil price movements have impacted the confidence of Indonesian asset owners, we see it as a great opportunity to leverage the team's experience to identify the best investment opportunities.

"Crucial to our strategy was the creation of a strong presence in the region, which our team has successfully achieved, enabling us to facilitate the establishment of key partnerships. CEB is now in active discussions with industry and government parties to assess additional projects and promote joint venture opportunities, further news of which I hope to announce in the near future."

Following the appointment of David Whitby to the Company as CEO, as announced on 5 June 2015, the Board has been focussed on identifying assets in the highly prospective Indonesian oil and gas sector. In addition to the identification of short-term oil production opportunities, CEB has put considerable effort into the opportunities in the domestic gas sector, where pricing is high relative to other gas markets. To achieve this a number of initiatives have been put in place.

One Hundred Day Plan:

A one hundred day plan has been developed to systemise the acquisition of Indonesian oil and gas assets. During the first one hundred days the goal was to:

· Prepare a strategic plan for the Company;

· Secure the core team and commence technical studies;

· Establish a presence in Indonesia; and

· Build a project pipeline.

These goals have now been achieved.

Strategic Plan:

The key elements of this strategic plan include:

· An onshore Indonesian focus, particularly on Sumatra;

· Targeting oil and gas assets with production and/or discoveries;

· A preference for farm-in over acquisition to reduce future capital requirements;

· Building a balanced portfolio with short-term cash flow and long term value potential; and

· To leverage the expertise of the team by being Operator, where possible.

Personnel:

David Whitby has secured a core team of industry professionals with over 250 years of combined experience in 35 countries worldwide. The team has in excess of half a century of experience in the Indonesian oil and gas sector and consequently has an enviable in-country network providing a competitive advantage for the Company.

In-country Presence:

Central to the realisation of the plan and strategy was the establishment of a presence within Indonesia which has now been successfully completed. This has enabled the technical and commercial team to enter multiple data rooms and conduct site visits to locations in Sumatra as part of the screening and due diligence process. In addition, the team's expertise and professionalism has been recognised and appreciated by a number of local government entities, who have initiated discussions for future joint venture opportunities.

Project Pipeline:

The Board believes that a key part of the development of a balanced portfolio is the focus on the value proposition for any new asset - that is, the potential to generate value through:

1. Value optimisation of existing operations;

2. Value realisation of undeveloped or bypassed opportunities; and/or

3. Value creation by the longer-term exploration, appraisal and development process.

As part of this process the team has now screened over 65 individual opportunities and completed the detailed assessment of nine high graded targets. As a consequence, a farm-in offer for one asset is now under consideration by its existing owners.

**ENDS**

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