CBM Oil plc

December 18, 2008 06:21 ET

Withdrawal from Plus

                                                  CBM Oil plc
                                              18th December 2008
                                        Withdrawal from the PLUS Market

The  Directors of CBM Oil Plc ("the company") announce the intention of the company to withdraw from  the  PLUS
market on 6th January 2009.

The directors believe that, in the current environment, any benefits of the listing are outweighed by the costs
involved whilst we wait tax registration of our JOA in Ukraine and raising funds for development activity.

No alternative arrangements for dealing in the company's shares are proposed by the directors.

Under PLUS market rules, the company is required to give shareholders a period of 10 business days to object to
the intended withdrawal of its securities from the Plus Markets facility.  Any shareholders wishing to raise an
objection     should    contact    Plus    Markets    in    confidence    by    5th    January     2009     (e-
mail:regulation@plusmarketsgroup.com, telephone: 020 7553 2035).

The Directors of the Issuer accept responsibility for this announcement.


Mike Burchell, Director          Nick Michaels
CBM Oil Plc                      Alfred Henry Corporate Finance Limited
Tel: 07802406126                 Tel: 020 7251 3762

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