Holding in Company

PRESIDENT PETROLEUM COMPANY PLC

("President" or "the Company")

7 July, 2011

Holding in Company

President Petroleum (AIM: PPC) has been notified by Levine Capital Management Limited ("LCM") that LCM has today increased its holding in President to 33,000,000 ordinary shares, through the purchase of 394,711 shares in the market. Pursuant to the issuance of new ordinary shares in the Company in relation to the Argentine acquisition as announced on 27 June 2011, LCM and its related parties hold 28.76 per cent of the total issued share capital of the Company.

For the avoidance of doubt, LCM did not deal in the new ordinary shares as part of the Argentine Acquisition.

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President Petroleum (AIM: PPC), is an oil and gas exploration and production company with onshore producing and exploration assets in Argentina and USA, and onshore exploration licences in South Australia.