PCI.L Regulatory News (PCI)

PRESS RELEASE

11 October 2012

MELROSE RESOURCES PLC

Delisting of Melrose Resources plc

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

Merger

of

Melrose Resources plc

and

Petroceltic International plc

Delisting of Melrose Resources plc

Following an application by Melrose Resources plc ("Melrose") to the United Kingdom Listing Authority and the London Stock Exchange, the listing of Melrose Shares on the Official List of the United Kingdom Listing Authority and the main market of the London Stock Exchange has been cancelled with effect from 8.00 a.m. (London time) today, 11 October 2012.

Readmission of the Enlarged Share Capital of Petroceltic to AIM and ESM and crediting of the New Petroceltic Shares to CREST accounts took place at 8.00 a.m. on 11 October 2012.

The latest date for despatch of share certificates in respect of the New Petroceltic Shares due under the Scheme will be 24 October 2012.

Unless the context otherwise requires, terms defined in the Scheme Circular dated 24 August 2012 shall have the same meaning in this announcement.

Enquiries:

Lambert Energy Advisory, which is authorised and regulated in the United Kingdom by the FSA, is acting exclusively for Melrose and for no one else in connection with the Merger and this announcement and will not be responsible to anyone other than Melrose for providing the protections afforded to clients of Lambert Energy Advisory nor for providing advice in relation to the Merger or this announcement or any matter referred to herein.

N+1 Brewin, which is authorised and regulated in the United Kingdom by the FSA, is acting exclusively for Melrose and for no one else in connection with the Merger and this announcement and will not be responsible to anyone other than Melrose for providing the protections afforded to clients of N+1 Brewin nor for providing advice in relation to the Merger or this announcement or any matter referred to herein.

HSBC, which is authorised and regulated in the United Kingdom by the FSA, is acting exclusively for Melrose and for no one else in connection with the Merger and this announcement and will not be responsible to anyone other than Melrose for providing the protections afforded to clients of HSBC nor for providing advice in relation to the Merger or this announcement or any matter referred to herein.

Merrill Lynch International ("BofA Merrill Lynch"), a subsidiary of Bank of America Corporation, is acting exclusively for Petroceltic in connection with the Merger and for no one else and will not be responsible to anyone other than Petroceltic for providing the protections afforded to its clients or for providing advice in relation to the Merger.

Davy, which is authorised and regulated in Ireland by the Central Bank of Ireland, is acting as nominated adviser and ESM Adviser to Petroceltic under the AIM Rules and the ESM Rules respectively and no one else in connection with the Merger and this announcement and will not be responsible to anyone other than Petroceltic for providing the protections afforded to clients of Davy nor for providing advice in relation to the Merger or this announcement or any matter referred to herein.