Further to the announcement of 5th October 2007, when details were released
concerning the issue of convertible loan notes, Dominion Petroleum announces that
the interest coupon payment due on these convertible loans as at 31 December 2007 will be paid in the form of an issue of new ordinary shares in the company credited as fully paid.

Consequently the company has applied for 2,606,115 new ordinary shares in the
company to be admitted to trading on AIM, with admission expected to occur on or
around 10 January 2008.

Following the issue of the new ordinary shares the Company will have 420,027,452
ordinary shares in issue.

For further information:

Dominion Petroleum Limited
Rob Shepherd
+44 207 459 0455

Seymour Pierce Limited
David Newton
+44 207 107 8000