L-Attorney: Former PetroCapital Resources PLC Chairman Sued by Company Shareholder

VADUZ, Liechtenstein, May 31, 2010 - In the continuing story concerning the board room dispute at PetroCapital
Resources Plc, which has resulted in the resignation of the founder and most
of the board of that company, a notification to the PLUS market regulators
and a delisting of the shares of the company, a High Court claim was filed
today against another exiting director and chairman Manoli Olympitis, as well
as the company itself, for defamation, intimidation, breach of contract and
malicious falsehood brought by its former COO and shareholder, Axel von
Schubert.

The Claim states that the notification which the Board of the Company
brought to the attention of the Regulators of the PLUS Market without Mr Von
Schubert's consent, concerning a Rule 9 Breach (acquisition of 30% of the
issued shares in the company without prior warning) was not merely incorrect
but also defamatory of Mr Axel von Schubert. It is anticipated that the
Takeover and Mergers Panel will provide a decision which supports Mr von
Schubert's claim that the notification was wrong despite PetroCapital's
statements to the contrary. The Claim further states that the public
announcement the company made on February 4th 2010, which lead to the
suspension of the shares, was misleading and factually incorrect.

    Contact:
    L-Attorney
    Pflugstrasse 22
    FL-9490 Vaduz
    Tel: +423-232-11-40
    E-Mail: info@l-attorney.com

Contact: L-Attorney, Pflugstrasse 22, FL-9490 Vaduz, Tel: +423-232-11-40, E-Mail: info at l-attorney.com