Director Dealing

1 June 2012

PRESIDENT PETROLEUM COMPANY PLC

("President" or "the Company")

Director Dealing

The Company (AIM:PPC) has been informed on 31 May 2012 that Peter Levine, Executive Chairman, through Levine Capital Management Limited has on 31 May 2012, purchased in aggregate 130,000 ordinary shares of the Company of 0.01 pence, at a price of 28 pence per share.

Following this transaction, the total number of shares in the Company held beneficially by Mr Levine is 37,273,525 (excluding related parties), representing 28.99% of the Company's total issued share capital.

For further information contact:

President Petroleum Company

John Hamilton, Director +44 (0) 207 811 0140

Ben Wilkinson, Finance Director +44 (0) 207 811 0140

RBC Capital Markets

Jeremy Low, Stephen Foss, Matthew Coakes +44 (0) 207 653 4000

Jefferies Hoare Govett

Simon Hardy, Max Jones +44 (0) 207 029 8316

Pelham Bell Pottinger +44 (0) 207 861 3232

James Henderson, Mark Antelme