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Victoria Oil & Gas Plc

18�Feb�2005

Placing of New Ordinary Shares

Kerman & Co LLP advised Victoria Oil & Gas Plc on a placing of new ordinary shares to raise �5.5 million through its nominated adviser and broker, Bell Lawrie.

The placing will enable Victoria Oil & Gas to fund the acquisition of the Kemerkol oil project in Atyrau Oblast, Kazakhstan, current development work in the Yamal Nenetsk Autonomous District, Russia, and provide additional working capital.

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� 2006 Kerman & Co LLP