Predator Oil Regulatory News (PRD)

26 March 2010

Prodesse Investment Limited (the "Company")

Publication of Circular

Further to the passing at an extraordinary general meeting of the Company held on 21 December 2009 of a resolution inter alia authorising a programme of realisation of the Company's assets, the Board announces that a circular has been published and posted to the Company's shareholders today convening a second extraordinary general meeting of the Company (the "EGM") inter alia to seek the approval of the Company's shareholders for the Company to be wound up voluntarily pursuant to Section 391(1)(b) of the Companies (Guernsey) Law, 2008 (as amended) and for John Clacy and Nicola Robinson (both of Deloitte LLP) to be appointed joint liquidators of the Company with the power to act jointly and severally for the purpose of such winding-up (the "Circular").

The EGM is to be held at 2.00 p.m. on Monday 26 April 2010 at BNP Paribas House, 1 St Julian's Avenue, St Peter Port, Guernsey GY1 1WA.

A copy of the Circular has been submitted to the UK Listing Authority (the "UKLA") and will shortly be available for inspection at the UKLA's Document Viewing Facility, which is situated at Financial Services Authority, 25 North Colonnade, Canary Wharf, London E14 5HS.

Enquiries:

Noble & Company: +44(0)20 7763 2200

Peter Tracey/James Staveley

Daniel Stewart: +44 (0)20 7776 6550

Martin Lampshire

Financial Dynamics: +44 (0)20 7269 7114Nick Henderson/Rob Bailhache

BNP Paribas Fund Services (Guernsey) Limited: +44 (0)1481 750850

Sara Bourne/Jean McMillan