WAM Wham

RNS Number:7030R
Wham Energy plc
26 September 2005




  Not for release, distribution or publication in whole or part in or into the
                   United States, Canada, Japan or Australia

                                WHAM Energy plc
                          First Day of Dealings on AIM

WHAM Energy plc ("WHAM" or "the Company"), the North sea specialist oil and gas
exploration company, is pleased to announce its flotation on the Alternative
Investment Market ("AIM") of the London Stock Exchange today. (AIM: (WAM))

Dealings in its shares have started today following a successful #10m placing of
new shares underwritten by Bridgewell at a price of 90p per share.

The market capitalisation of WHAM at the Placing Price on commencement of
dealings is expected to be #28.5m.

Bridgewell acted as Nominated Adviser and Broker to the placing.


Tom Windle, Chief Executive of WHAM, commented,

" We are delighted with the response from investors to the Company's flotation.
With our exciting list of prospects and our team's proven track record and
experience, we look forward to delivering significant shareholder value for our
investors.

" The new funds will enable the Company to advance our exploration programme
comprising seismic and drilling opportunities across our portfolio of UK Promote
licences. We believe our portfolio comprises a number of potentially attractive
commercial oil and gas prospects starting with our immediate drill-ready
prospect Prometheus.

" Our goal is to continue to develop further drillable prospects for 2006 and 2007
from our existing Promote licences and to work-up our awards from the Dti's
recent 23rd licence round."

" We have a number of live projects that are underway and we expect to update the
market on progress shortly. The team at WHAM is looking to the future with
confidence."


Background on WHAM Energy

WHAM is an independent UK based oil & gas exploration company focused on the
hydrocarbon producing basins of the UK North Sea. WHAM was formed in 2003 by a
team of former senior Amoco explorers with over two hundred years of experience
in the North Sea.

WHAM holds 10 offshore exploration licences primarily across the UK Southern
North Sea gas basin. The Company intends to develop as an independent UK focused
upstream oil and gas business through an active exploration and appraisal
programme. The Company has a track record of pro-active management of its oil
and gas assets including the recent farm-out of its Southern Gas basin
Prometheus prospect. WHAM was awarded an additional three blocks (53/3d, 43/11 &
43/12) at 100% working interest in the recent 23rd Promote licence round.

In July 2005, WHAM announced that Centrica plc had taken a 40 per cent stake in
one of its North Sea licences that contains the Prometheus gas prospect.
Centrica will drill an exploration well in September 2005 with the results due
in October 2005. WHAM will retain a 20% interest in the licence.

Despite the UK North Sea being seen as a mature hydrocarbon province, the
Directors believe it still offers material undiscovered reserve potential. The
Directors believe that increased activity within under-explored areas of the
North Sea and a focus on more subtle hydrocarbon traps such as the Prometheus
prospect will form the basis for future UK hydrocarbon exploitation.

                                     -ends-

Date: 26 September 2005
For further information contact:

WHAM Energy plc
Tom Windle                                020 7738 8730
                                          
Bridgewell Securities Limited
Greg Aldridge/Andrew Matharu              020 7003 3000

cityPROFILE
Oliver Winters                            020 7448 3244




                      This information is provided by RNS
            The company news service from the London Stock Exchange

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