Caspian Sunrise Regulatory News (CASP)

Roxi Petroleum PLC ("Roxi" or the "Company")

Issue of Equity

Roxi today announces that it has issued 36,221 ordinary shares of 1p each in the capital of the Company ("Ordinary Shares") for nil consideration to Arawak Energy Limited ("Arawak").

The Ordinary Shares have been issued to pursuant to the terms of the deeds of warrant (the "Warrant Deeds") over 54,000,000 ordinary shares, which the Company entered into with Arawak, as announced on 18 June 2009 and on 2 July 2009 (the "Arawak Warrants"). The terms of the Warrant Deeds stipulate that should Roxi issue shares to a party other than Arawak at a discount to the closing mid-price of the shares for the five consecutive trading days ending on the trading day immediately before the issue of shares, the Arawak Warrants and shares issued pursuant to the Arawak Warrants will be adjusted to reflect any such discount.

On 22 September 2009, Roxi announced that it had issued 6,000,000 shares to an investor at 10p per Ordinary Share, which was a 11.11% discount to the closing mid-price of the shares for the five consecutive trading days ending on the trading day immediately before the issue of shares.

Arawak has exercised, in aggregate, warrants over 21,132,500 Ordinary Shares. As a result of the issue by Roxi of 6,000,000 shares to an investor at 10p per Ordinary Share on 22 September 2009 at a discount, under the terms of the Warrant Deeds, the Company is now required to issue to Arawak an additional 36,221 Ordinary Shares and an additional 56,335 warrants over Ordinary Shares exercisable on the same terms of the other Arawak Warrants.

It is expected that the 36,221 Ordinary Shares will be admitted to trading on AIM on 15 February 2010.

Following this issue of equity the total issued share capital of the Company will be 417,218,386 ordinary shares of 1p each. The Company holds no ordinary shares in treasury. Therefore, following the issue, the total number of voting rights in the Company will be 417,218,386.

8 February 2010

Roxi Petroleum plcClive Carver, non-executive chairman +44 (0) 207 600 1658 David Wilkes, CEO +7 727 244 0920

College Hill (Financial PR)Nick Elwes / Simon Whitehead +44 (0) 20 7457 2020

Matrix Corporate Capital LLP (NOMAD and broker)Alastair Stratton / Anu Tayal +44 (0) 203 206 7000