Restructure Proposals

For Immediate Release 6 June 2011

Leed Petroleum PLC

("Leed" or the "Company")

Release of Guarantees, Proposed Board Changes and Placing

The Board is pleased to announce that the Company has reached an agreement with UniCredit Bank AG ("UniCredit"), whereby UniCredit has agreed, conditional on the payment of a fee, to release the Company from the guarantee and security arrangements it had provided to UniCredit pursuant to its loan facilities. The Company has now had all its material creditors agree to release the Company from its guarantee obligations to them. The Company now has no material assets or liabilities.

The Company is now in a position to proceed with the proposals to recapitalise the Company as an investment vehicle as announced on 6 May 2011 (the "Proposals"). As part of the Proposals, the Company intends to reclassify itself as an investing company under the AIM rules for Companies in order to invest in the natural resources industry, with a focus on the oil and gas sector.

The Board is also pleased to announce the appointment of Rivington Street Corporate Finance Limited ("Rivington") as broker to the Company. As part of the Proposals, Rivington has conditionally placed £2,135,000 of zero coupon unsecured loan notes ("Loan Notes") which are convertible at the option of the Company into new ordinary shares in the Company (the "Placing"). It is intended that conversion of all the Loan Notes will take place immediately following their issue. In order for the Placing to occur the Company will be required to undertake a reorganization of its share capital that will include the creation of new deferred shares and the consolidation of existing ordinary shares.

The Company also announces the resignation of Robert Alcock, Anthony Stalker, Peter Hirsh, James Slatten and Howard Wilson as the directors of the Company with immediate effect. Robert Adair and Ian Gibbs will remain on the Board in order to approve and implement the Proposals. Following the implementation of the Proposals, Mr. Adair will resign as a director and Mr. Gibbs will remain on the Board, and will be joined by Mr. Peter Redmond.

Peter Redmond is an experienced corporate financier and has some 30 years experience in corporate finance and venture capital. He became director of corporate finance at Durlacher Limited in 2003, then joined Merchant House Group plc where he later became Chief Executive, prior to joining Rivington in 2010. He has been active in reconstructing a number of AIM companies which have subsequently acquired or established operating businesses, including natural resources companies such as Igas Energy plc, Weatherly International plc and CarbonDesk plc.

Peter Redmond holds or has held the following directorships or has been a partner in the following partnerships within the five years prior to the date of this Document.

He was a director of BWA Group plc, Bella Media plc, Weatherly International plc and Igas Energy plc all of which have in the past been the subject of CVAs. He joined the boards of the companies concerned in order to assist in the refinancing and reconstruction immediately after the CVAs had been put in place. In all cases the CVAs were successfully concluded.

A circular will shortly sent to shareholders providing further information on the Proposals, including details of the Loan Notes, the share capital reorganisation and the new investing strategy of the Company, which are subject to the receipt of shareholder approval at a general meeting of shareholders expected to be held on 22 June 2011.

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