Mr. Tom Feuchtwanger reports

PETROMAROC ANNOUNCES PRIVATE PLACEMENT

PetroMaroc Corp PLC intends to complete a non-brokered private placement of units of the company at a price of 15 cents per unit to raise gross proceeds of a minimum of $3-million and a maximum of $6-million. The units will consist of one common share of the company and one-half of a common share purchase warrant. Each whole warrant will be exercisable into one common share for a period of 18 months from closing at 30 cents per warrant share, provided that if at any time following the date of issuance, the closing price of the common shares on the TSX Venture Exchange is greater than 45 cents for 30 consecutive trading days, the company may give notice to the holders of the warrants that the expiry time of the warrants has been accelerated, and the warrants will expire on the 20th business day following the date of such notice. Holders of warrants are restricted from exercising warrants without the approval of the TSX-V if, as a result of exercise, the holder would hold more than 20 per cent of the issued common shares of the company.

The securities to be issued will carry a four-month hold period under Canadian securities laws from the date of issuance. The issuance of the units, and listing of the common shares and the warrant shares pursuant to the offering are subject to the TSX-V approval.

Proceeds from the offering will be used for general working capital purposes and exploration expenses. Any finder associated with the offering will be entitled to receive a finder's fee equal to 3 per cent of the gross proceeds received from subscribers introduced to the offering by the finder.

We seek Safe Harbor.