Arawak shares cease trading on Toronto Stock Exchange

    LSE & TSX TRADING SYMBOL: AAK

    ST. HELIER, Jersey, April 15 /CNW/ - Arawak Energy Limited ("Arawak" or
the "Company") announces that following the successful offer by Rosco S.A.
("Rosco") to acquire all of the outstanding common shares of Arawak, the
Company's shares have been delisted from trading on the Toronto Stock Exchange
effective from the close of business on 14 April 2009.
    On 8 April 2009, Rosco announced that it held approximately 96.91% of
Arawak's total issued common share capital following its recommended and
increased cash offer (the "Offer") of C$1.00 per Arawak share at the end of
January 2009. Rosco, a subsidiary of the Vitol group of companies, has
declared its Offer wholly unconditional and has commenced proceedings to
compulsorily acquire all the remaining outstanding shares related to the
Offer. Arawak has applied to the UK Listing Authority for the cancellation of
listing of the Arawak shares on the Official List, and to the London Stock
Exchange ("LSE") for the cancellation of admission to trading in Arawak shares
on the market for listed securities. Cancellation from the LSE is expected to
be effective from 24 April 2009.
    All documentation related to the Offer can be found on
www.arawakenergy.com or on www.sedar.com.

    Notes to editors

    Arawak 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, the Company's asset is its interest in the Exploration
Development and Production Sharing Agreement ("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 a detailed description of Arawak's business and the risks and
uncertainties facing the Company, readers should refer to Arawak's Annual
Information Form for the year ended 31 December 2008 and dated 30 March 2009
as filed at www.sedar.com.

For further information:

For further information: Arawak Energy Limited: Tanya Pang, Head of
Investor Relations, E-mail: info@arawakenergy.com, Tel: +44 (0) 20 7973 4285,
Fax: +44 (0) 20 7824 8466, Web: www.arawakenergy.com; Brunswick Group LLP:
Patrick Handley, Tel: +44 (0)20 7404 5959; JPMorgan Cazenove Limited: Steve
Baldwin, Neil Haycock, Tel: +44 (0)20 7588 2828; Oriel Securities Limited:
Richard Crawley, Natalie Fortescue, Tel: +44 (0)20 7710 7600