3Legs Resources Drilling Update

01 July 2011
3Legs Resources Drilling Update

Announcement of exercise of Over-allotment Option

3 Legs Resources plc (the "Company"), a company focussed on the exploration and development of unconventional oil and gas resources with a particular focus on shale gas in Europe, announces that, in connection with the initial public offering of ordinary shares in the Company (the "Offer"), Jefferies International Limited, as Stabilising Manager, exercised the over-allotment option (the "Over-allotment Option") provided by each of Tomuro Limited, Caithness Limited, Kamlesh Parmar, Roy Williams, Alexander Fraser, Cheviot Capital (Nominees) Limited, Discovery GeoServices Corporation, Richard Harris and Samos Investments (Jersey) LP, in respect of a total of 4,404,552 Ordinary Shares in the Company (the "Over-allotment Shares") on 1 July 2011.

The proceeds of approximately £8.4 million (before deduction of underwriting commissions and expenses) arising from the exercise of the Over-allotment Option will be received by the relevant Selling Shareholders. Following exercise of the Over-allotment Option, the total size of the Offer is £85.6 million (45,036,052 Ordinary Shares).

For detailed information download a pdf of the announcement.