Notice of EGM

For Immediate Release 7 June 2011

Leed Petroleum plc

("Leed" or the "Company")

Publication of Circular, EGM Notice and Investing Policy

Further to the announcement made by the Company on 6 June 2011, Leed has today published and sent to shareholders a circular (the "Circular") in connection with the proposed issue of £2,135,000 of convertible loan notes ("Placing") and other matters.

As the Company has now disposed of all of its trading business, the Company will be reclassified as an Investing Company under AIM Rules. The Directors intend to invest the proceeds of the Placing in companies operating in the natural resources sector, with a focus mainly but not exclusively on the oil and gas sector, in accordance with the following investing policy ("Investing Policy").

The proposed investments to be made by the Company may be either quoted or unquoted; made by direct acquisition or through farm-ins; may be in companies, partnerships, joint ventures; or direct interests in oil and gas projects. Target investments will generally be involved in projects in the exploration and/or development stage. The Company's equity interest in a proposed investment may range from a minority position to 100 per cent. ownership.

The Directors will initially focus on projects located in Africa but will also consider investments in other geographical regions.

The Directors will identify and assess potential investment targets and, where they believe further investigation is required, intend to appoint appropriately qualified advisers to assist. They believe they have a broad range of sources of potential opportunities.

The Company proposes to carry out a comprehensive and thorough project review process in which all material aspects of any potential investment will be subject to rigorous due diligence, as appropriate.

It is likely that the Company's financial resources will be invested in a small number of projects or potentially in just one investment which may be deemed to be a reverse takeover under the AIM Rules. Where this is the case, the Directors intend to mitigate risk by undertaking an appropriate due diligence process. Any transaction constituting a reverse takeover under the AIM Rules will require Shareholder approval. The Directors have not, however, excluded the possibility of building a broader portfolio of investment assets.

The Company intends to deliver shareholder returns principally through capital growth rather than capital distribution via dividends.

Given the nature of the Company's Investing Policy, the Company does not intend to make regular periodic disclosures or calculations of net asset value.

The Directors consider that, in due course, the Company may require additional funding as investments are made, and new investment opportunities arise.

The Circular also contains notice of a general meeting of the Company to be held at 11.00 a.m. on 22 June 2011.

A copy of the Circular will shortly be available on the Company's website at www.leedpetroleum.com.

Enquiries

Leed Petroleum plc Ian Gibbs 

Tel: (+65) 6372 3575

 Libertas Capital Corporate Finance Limited Sandy Jamieson

Tel: 020 7569 9650 

 Rivington Street Corporate Finance Limited Peter Greensmith

Tel: 020 7562 3350