Admission to trading and completion of placing

To be released outside the United States only. Not for release, publication or distribution directly or indirectly, in whole or in part, in or into or from the United States, Australia, Canada, Japan or the Republic of South Africa or any other jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction

24 November 2010

Jubilant Energy N.V.

("Jubilant" or the "Company")

Admission to trading on AIM and completion of placing

Further to the announcement on 22 November 2010, Jubilant, an emerging oil and gas play engaged in upstream E&P in India since 1995, announces that its entire issued share capital, comprising 416,306,787 ordinary shares of EUR0.01 each, has today been admitted to trading on the AIM market of the London Stock Exchange plc, under the EPIC code "JUB".

Jubilant also announces that the placing announced on 22 November 2010 ("Placing") has become unconditional in all respects.

Further information about the Company, including all of the information required to be disclosed pursuant to AIM Rule 26, is available on the Company's website, www.jubilantenergy.com.

Evolution Securities Limited acts as nominated adviser and joint broker to Jubilant. Renaissance Capital acts as joint broker to Jubilant.

Ajay Khandelwal, Chief Executive Officer of Jubilant, commented:

"We are delighted to be admitted to trading on the AIM market in London. We are now funded to develop our initial work programme and to tap into the incredible demand for energy in India. It's a very exciting time for our company."

Enquiries:

Notes to Editors

Jubilant Energy is one of India's leading oil and gas companies engaged in upstream exploration and production. The Company, engaged in upstream E&P in India since 1995, has built a balanced portfolio of oil and gas assets in exploration, appraisal, development and production through participation in Indian oil and gas licensing rounds.

The Company has assets in nine blocks across the proven and prolific Indian hydrocarbon basins of Krishna Godavari, Cambay, Cauvery and Assam-Arakan. It has sole operator responsibilities in six of these blocks.

Jubilant Energy is part of the Jubilant Group, a prominent, diversified Indian business group founded by Shyam and Hari Bhartia.

www.jubilantenergy.com

This announcement has not been approved by the London Stock Exchange plc or the Financial Services Authority. This announcement does not constitute or form part of any offer or invitation to sell, allot or issue, or any solicitation of or inducement to enter into any offer to purchase or subscribe for, any Placing Shares as defined in the Admission Document, nor shall it (or any part of it) or the fact of its distribution form the basis of, or be relied upon in connection with any contract therefore. Recipients of the Admission Document or this announcement who intend to subscribe for Placing Shares in the Placing are reminded that any such subscription may only be made solely on the basis of the information relating to the Company contained in this announcement, the Admission Document, and any supplementary admission document, which may be different from the information contained in this announcement. No reliance may be placed for any purpose whatsoever on the completeness, accuracy or fairness of the information or opinions contained in this announcement.

No undertaking, representation, warranty or other assurance, express or implied, is made or given by or on behalf of the Company, Evolution Securities Limited (the "Nominated Adviser"), Renaissance Capital Limited or Gaffney, Cline & Associates (Consultants) Pte Ltd or any of their respective affiliates, any of their respective directors, officers or employees or any other person as to the accuracy, completeness or fairness of the information or opinions contained in this announcement or the Admission Document and no responsibility or liability is accepted for any such information or opinions or for any errors or omissions.

Persons reading this announcement should note that the Nominated Adviser, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is advising the Company and no one else in relation to the proposed Placing and Admission, and will not be responsible to anyone other than the Company for providing the protections afforded to customers of the Nominated Adviser nor for providing advice to any person other than the Company in relation to this announcement, the proposed Placing and Admission. The Nominated Adviser's responsibilities as the Company's Nominated Adviser under the AIM Rules for Nominated Advisers will be owed solely to the London Stock Exchange plc and not to the Company, to any of its directors or any other person in respect of a decision to subscribe for or acquire Ordinary Shares in the Company in reliance on this announcement or the Admission Document. The Nominated Adviser has not authorised the contents of, or any part of, this announcement.

The announcement, the Admission Document and the Placing are only addressed to and directed at persons in member states of the European Economic Area who are "qualified investors" within the meaning of Article 2(1)(e) of the Prospectus Directive (Directive 2003/71/EC) ("Qualified Investors") ("Prospectus Directive"). In addition, in the United Kingdom, the Admission Document is being distributed to and is directed at (i) Qualified Investors and persons who have professional experience in matters relating to investments falling within Article 19(5) of the UK Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended, (the "Order"), or, (ii) who fall within Article 49(2)(a)-(d) of the Order, or (iii) to whom it may otherwise be lawful to distribute it (all such persons together being referred to as "relevant persons"). The announcement and the Admission Document is directed only at relevant persons and must not be acted on or relied upon by persons who are not relevant persons. Any investment or investment activity to which the this announcement or the Admission Document relates is available only to relevant persons in the United Kingdom and, in any member State of the European Economic Area other than the United Kingdom, to Qualified Investors and other persons who are permitted to purchase the Ordinary Shares pursuant to an exemption from the Prospectus Directive and other applicable legislation. By reading this announcement you are deemed to warrant to the Company and the Nominated Adviser that you fall within the categories of persons described above.

These written materials are not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration under the US Securities Act of 1933, as amended (the "Securities Act"), or an exemption therefrom. The securities referred to herein (the "Securities") have not been and will not be registered under the Securities Act or with any securities regulatory authority of any state or jurisdiction of the United States. No public offering of the Securities will be made in the United States.

This announcement does not constitute an offer of Securities to, and subject to certain exemptions, the Securities may not be offered or sold to, any person with a registered address in, or who is resident in, Australia, Canada, Japan or South Africa. None of the Securities has been or will be registered under the relevant laws of any state, province or territory of Australia, Canada, Japan or South Africa. Subject to certain limited exceptions, neither the Admission Document nor this announcement will be distributed in or into the United States, Australia, Canada, Japan or South Africa.

The release, publication or distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this announcement is released, published or distributed should inform themselves about and observe such restrictions.