Rose Petroleum plc

Notice of EGM & Increase in proposed placing


VANE announces that a notice convening an Extraordinary General Meeting ('EGM') has been sent to shareholders on 7 November 2007. The EGM is scheduled for Shareholders to vote on the proposed placing as announced on 2 November 2007. It is to be held at the offices of Hammonds Solicitors, at 7 Devonshire Square, Cutlers Gardens, London, EC2M 4YH on 30 November 2007 at 11.00 am.

In addition, the Company announces, further to the statement on 2 November 2007, that Westwind Partners has exercised an option it had agreed with the Company to increase the size of the proposed share issue to £6.25 million, by placing an additional 7,142,857 Ordinary shares.

Accordingly, at the EGM resolutions will be put to Shareholders to approve the issue of 35,714,285 Ordinary shares.

As previously announced, the net proceeds of the placing are to be used primarily for accelerating VANE's breccia pipe drilling campaign in northern Arizona, where the Company has 39 drill targets, and for proceeding to further rounds of drilling on the Company's six properties in Utah.