Arawak announces admission to the official list and the main market of the London Stock Exchange and total voting rights



    /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, July 1 /CNW/ - Arawak Energy Limited ("Arawak"
or the "Company"), an independent oil and gas company with exploration,
development and production assets in Kazakhstan, Russia and Azerbaijan, is
pleased to announce today the admission to listing of the common shares of
Arawak (the "Common Shares") on the Official List of the United Kingdom
Listing Authority and to trading on the Main Market of the London Stock
Exchange plc (the "LSE") (collectively, "Admission"). Arawak intends to
maintain the listing of its Common Shares on the Toronto Stock Exchange (the
"TSX"). The Common Shares will trade under the new symbol AAK on both the LSE
and the TSX.
    As at 30 June 2008, Arawak's issued share capital consisted of
182,244,452 Common Shares of no par value. Each Common Share carries one
voting right. Therefore the total number of voting rights in Arawak is
182,244,452.
    The above figure of 182,244,452 may be used by shareholders as the
denominator for the calculations by which they will determine if they are
required to notify their interest in, or a change to their interest in, Arawak
under the FSA's Disclosure and Transparency Rules (the "DTRs") and the
Company's articles of association (the "Articles").
    The provisions of the DTRs and the Articles (as amended and adopted by
shareholders at the annual general meeting on 18 June 2008) require persons to
notify the Company and the UK Financial Services Authority ("FSA") of the
percentage of the voting rights of the Company in which he directly or
indirectly holds if that percentage reaches, exceeds or falls below 3% or any
1% threshold above 3% of the Company's total voting rights. The Company has
power to suspend the right to vote the shares, withhold any dividend and
prohibit the transfer of any shares held by persons who fail to comply with
the disclosure provisions. The full text of the relevant rules and a glossary
of terms used in them are available online at
http://fsahandbook.info/FSA/html/handbook/.

    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.

    General

    This announcement has been prepared and issued by Arawak and is the sole
responsibility of Arawak. JPMorgan Cazenove Limited, which is authorised and
regulated in the United Kingdom by the Financial Services Authority is acting
exclusively for Arawak and for no-one else in connection with Admission and
will not be responsible to anyone other than Arawak for providing the
protections afforded to its customers or for providing advice in relation to
Admission or any arrangement referred to herein.

    The distribution of this announcement and other information in connection
with the Admission may be restricted by law in certain jurisdictions and
persons into whose possession any document or other information referred to
herein comes should inform themselves about and observe any such restrictions.
Any failure to comply with these restrictions may constitute a violation of
the securities laws of any such jurisdictions. This announcement is not an
offer to sell, or a solicitation of an offer to buy, securities in the United
States. The securities referred to herein have not been and will not be
registered under the U.S. Securities Act of 1933, as amended (the "Securities
Act") and may not be offered, sold or otherwise transferred in the United
States (as such term is defined in Regulation S under the Securities Act)
unless they are registered under the Securities Act or pursuant to an
available exemption therefrom. No public offering of securities is being made
in the United States or elsewhere. The price and value of the Common Shares
may go down as well as up. Potential investors needing advice should consult a
professional adviser. This document is an advertisement and not a prospectus
for the purposes of applicable measures implementing the Prospectus Directive.





For further information:

For further information: Arawak Energy Limited, Alastair D. McBain,
President & Chief Executive Officer, Charles R. A. Carter, Chief Financial
Officer, Phone: +44 (0) 20 7973 4285, Fax: +44 (0) 20 7824 8466, E-mail:
info@arawakenergy.com, Web: www.arawakenergy.com; Brunswick Group LLP, PR
Advisers to Arawak, Patrick Handley, Tel: +44 (0) 20 7404 5959; JPMorgan
Cazenove, Sponsor, James Taylor, Steve Baldwin, Tel: +44 (0) 20 7588 2828

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Arawak Energy Limited

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