REG-Petrocapital Resources Plc: Investment Update

22 April 2010

Petrocapital Resources Plc

Central Montana Resources LLC - Investment Update

The Directors of Petrocapital Resources Plc (the "Company") are pleased to give
an update on the Company's US$1.75m investment in Central Montana Resources LLC
("CMR").

Shareholders will recall that the Company invested US$1.5m in CMR in July 2009
and a further US$0.25m follow-on investment was made and announced on 15
February 2010.

CMR has concluded a confidential joint venture arrangement with a major
publicly traded energy services company and a privately held Texas oil
partnership, whose principal has an extensive and successful track record in
oil resource plays, pursuant to which a drilling program on CMR acreage will
commence in July 2010.

In light of the arrangements with these prestigious joint venture partners, CMR
has resolved to initiate a funding round at a subscription price which
effectively values the Petrocapital investment in CMR in excess of US$4.00m,
which represents a more than twofold increase on an investment that has only
been held since June 2009, i.e. 10 months.

Emmanuel Olympitis, Chairman, commented:

"We are delighted at this tremendous increase in value of our investment. Our
thanks go to the management of CMR for taking this opportunity forward so
quickly and bringing on board such robust joint venture partners.

The Directors believe that the return on this investment shows that a
conservative and selective investment policy, combined with close longstanding
professional relationships can deliver excellent returns without the need for
high risk investment in speculative projects."

THE DIRECTORS OF THE ISSUER ACCEPT RESPONSIBILITY FOR THE CONTENTS OF THIS
ANNOUNCEMENT

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Enquiries:

Petrocapital Resources Plc 020 7581 1331 / 07962 138 038

Timothy Le Druillenec

Fisher Corporate Plc 020 7388 7000

Gary Miller

ln-140211

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