Appointment of joint corporate brokers



    /THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION,
    DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, JAPAN OR
    ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL. THIS ANNOUNCEMENT
    IS NOT AN OFFER OF SECURITIES IN THE UNITED STATES, AUSTRALIA, JAPAN OR
    ANY OTHER JURISDICTION/

    LSE & TSX TRADING SYMBOL: AAK

    JERSEY, Channel Islands, Aug. 4 /CNW/ - Arawak Energy Limited ("Arawak")
an independent oil and gas company with exploration, development and
production assets in Kazakhstan, Russia and Azerbaijan is pleased to announce
the appointment of JPMorgan Cazenove Limited and Oriel Securities Limited as
joint London based corporate brokers with immediate effect.
    As of July 1, 2008 in addition to its listing on the Toronto Stock
Exchange, Arawak's common shares are also listed on the London Stock Exchange.
Arawak's new ticker symbol is "AAK" for both markets.

    Notes to editors

    Arawak's Common Shares are listed for trading on both the TSX and LSE
under the symbol "AAK". The Company is engaged in the exploration, development
and production of oil and natural gas in Kazakhstan, Russia and Azerbaijan. In
Kazakhstan, the Company holds five producing fields and two exploration
blocks. The Company has a 40% participating interest in the Saigak producing
block acquired in June 2008. The remaining assets are held through its 100%
wholly-owned subsidiary Altius Energy Corporation ("Altius"). Altius' main
producing field is Akzhar with smaller fields at Besbolek, Karataikyz and
Alimbai. The two exploration blocks East Zharkamys III and Tamdykol are also
situated in western Kazakhstan. Arawak's producing assets in Russia are held
through ZAO PechoraNefteGas ("PNG") and LLC NK Recher-Komi ("Recher-Komi") in
which Arawak has a 50% interest with the remaining interest being held by
Lundin Petroleum AB. Also in Russia, Arawak holds a 100% interest in the
Kymbozhyuskaya exploration block and in the South Sotchemyu appraisal block.
In Azerbaijan, where the Company holds oil and gas reserves, the Company's
asset is its interest in the EDPSA for the South West Gobustan oil and gas
fields. CGL, a company registered in Anguilla, British West Indies, in which
the Company has a 37.17% interest, holds an 80% interest in the EDPSA with the
remaining 20% held by an affiliate of SOCAR. The remaining 62.83% share in CGL
is held by two affiliates of the project operator, CNPC.





For further information:

For further information: Arawak Energy Limited, Tel: +44 (0) 20 7973
4285, Alastair D. McBain, President & Chief Executive Officer, Fax: +44 (0) 20
7824 8466, Charles R. A. Carter, Chief Financial Officer, E-mail:
info@arawakenergy.com, Web: www.arawakenergy.com; Brunswick Group LLP, Tel:
+44 (0)20 7404 5959, Patrick Handley; JPMorgan Cazenove Limited, Tel: +44
(0)20 7588 2828, Steve Baldwin, Neil Haycock; Oriel Securities Limited, Tel:
+44 (0)20 7710 7600, Richard Crawley, Natalie Fortescue

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Arawak Energy Limited

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