July 15, 2008

QGC Announces Increased Offer for Roma Petroleum

Australia-based Queensland Gas Company has announced that it will increase its offer for Roma Petroleum, from A$0.10 cash and 0.0177 QGC shares, to A$0.11 cash and 0.0177 QGC shares for each Roma share.

Roma shareholders who have already accepted the Queensland Gas Company's (QGC) offer will be entitled to the increased consideration. QGC has also declared its offer free from defeating conditions.

QGC also confirmed that Oil Drilling & Exploration (OD&E) has formally accepted its offer in relation to the 48.805 million Roma shares held by OD&E. QGC's voting power in Roma was approximately 22.44% at the time of the increased offer.