Reduction of Capital

PREMIER OIL GROUP LIMITED

(No. SC234781)

Notice is hereby given that on 28th February 2003 a Petition was presented to the Court of Session, Edinburgh (the “Court’) by Premier Oil Group Limited (the “Company”) incorporated in Scotland under the Companies Act 1985 with its Registered Office at 4th Floor, Saltire Court, 20 Castle Terrace, Edinburgh, EH1 2EN, seeking an order under Sections 135 to 138 of the Companies Act 1985 confirming the reduction of its share capital pursuant to a special resolution passed by the Company on 3rd February 2003.

On 3rd March 2003 the Court pronounced an order that the Petition be advertised in each of the Edinburgh Gazette, the Financial Times and the Scotsman newspapers and that any party claiming an interest in the Petition should lodge written Answers thereto with the Court within 21 days of the last of those advertisements.

The Company intends shortly to re-register as a public company, with the name Premier Oil Group plc.

Biggart Baillie

Dalmore House, 310 St Vincent Street, Glasgow G2 5QR

Slaughter & May

One Bunhill Row, London, EC1Y 8YY

Solicitors for the Company

4th March 2003