GOIL Granby Oil

    9 April 2008

Granby Oil and Gas plc

("Granby" or "the Company" or "the Group")

Cancellation of trading on AIM

The  Company  notes  today's announcement by Silverstone Energy Limited ("Silverstone")  that  its
recommended offer to acquire the whole of the issued and to be issued share capital of Granby  has
been  declared  wholly unconditional and that it intends to procure that Granby  applied  for  the
cancellation of trading of the Company's shares on AIM.

The  Company  announces that it has applied to the London Stock Exchange for the  cancellation  of
trading  of Granby's shares on AIM.  In accordance with the rules of AIM, cancellation  will  take
place  no  earlier  than 20 business days from today's date and it is currently  anticipated  that
cancellation will take effect from 7.00 a.m. on 9 May 2008.

Granby  shareholders should note that cancellation is likely to reduce significantly the liquidity
and  marketability of Granby shares.  Once cancellation has taken effect, Granby shareholders will
no longer be able to effect transactions in Granby shares on market at the market price. Following
cancellation,  therefore,  Granby shareholders will have to effect  any  further  transactions  in
Granby shares off market at a price to be agreed between the relevant parties.

Enquiries:
 Granby Oil and Gas plc                                     020 7648 4950 or
                                                            0845 2577537
    David Grassick, Managing Director                       07785 921080
                                                            
    Nigel Burton, Finance Director                          077 8523 4447
                                                            
    www.granbyoil.com                                       
                                                            
 KBC Peel Hunt                                              020 7418 8900
 (Nominated Adviser and Broker)
    Jonathan Marren / Matt Goode                            
                                                            
 College Hill                                               020 7457 2020
    Nick Elwes / Paddy Blewer                               


                                                                
Granby Oil & Gas plc



                                                                

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