Company Information for Rheochem PLC

AIM-RHEP

www.rheochem.com.au

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AIM; RHEP

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Company Statement

Rheochem is a diversified oil and gas business admitted to trading on AIM and ASX that specialises in the provision of drilling fluids and engineering services to the oil and gas exploration industry with operations in Australia, New Zealand and India. Rheochem also holds investments in two near term potential development oil and gas assets located in the North Sea, UK and Texas, USA, provides mineral processing services to the mining industry, and owns and operates one of only three purpose built mud blending facilities on the North-West Shelf of Western Australia.

The Company's objective is to establish itself in the global drilling fluids market and cement Rheochem as a brand name by continuing growth in existing regions and expansion into new markets. The Company also seeks to enhance the value of its oil and gas assets by further evaluation and appraisal. The Company also has a strategy of building up a portfolio of investments in a number of oil & gas exploration projects which have near term development potential.

Operations and Technology

The Company's objective is to establish itself in the global drilling fluids market and cement Rheochem as a brand name by continuing growth in existing regions and expansion into new markets. The Company also seeks to enhance the value of its existing oil and gas assets by further evaluation and appraisal. The company is also seeking other investment opportunities in the oil and gas sector.

Rheochem now has two main areas of operation:

Oil Field Services
The Rheochem Group provides comprehensive drilling fluids and engineering support to oil and gas companies through the provision of field engineering services and the supply of drilling fluids and chemicals for drilling rigs. Rheochem custom designs specialist drilling fluids systems to meet a client's individual requirements, as well as providing office-based support, rig-based support, plant-based fluids engineers and laboratories services. Rheochem operates in Australia, New Zealand and India through subsidiary companies.

Through its ongoing research and development program, Rheochem has developed a number of drilling fluids, which have progressed to full commercialisation. Two recently developed systems are high temperature drilling fluid (designed for drilling some of the hottest and deepest onshore wells in Australia) and Syndrill (designed for a new development drilling program off the north west shelf of Australia).

Oil and Gas Exploration and Production
Rheochem's upstream oil and gas businesses are operated through Rheochem's wholly owned subsidiaries Lochard Energy Ltd in the UK and Lochard Energy Inc in the USA. Lochard Energy Ltd also has an interest in one half of the issued share capital of Zeus through which it holds its interests in the North Sea upstream oil assets.

Board of Directors and Key Management

Haydn Gardner	CEO
Craig McGuckin	Executive Director
Lincoln McCrabb	Executive Director
Michael Rose	Non-Executive Director
Peter Youd	Non-Executive Director

Company Address

11 Alacrity Place, Henderson,
Perth, Australia WA 6166


Telephone:	+61 8 9410 8200
Facsimile:	+61 8 9410 8299
Email:	admin[at]rheochem.com.au
Website:	http://www.rheochem.com.au

Additional Address/Key Contact

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Nominated Brokers

McCall, Aitken, McKenzie & Co
52/54 Gracechurch Street
London EC3V 0EH
Tel +41 1360 850 620

Nominated Advisors

Blue Oar Securities plc
30 Old Broad Street
London EC2N 1HT
Tel: +44 20 7448 4412
Fax: +44 20 7448 4411

Major Shareholders

Shareholder	Number of Shares	% Holding
Gardner Marketing Pty Ltd	16,428,421	7.6%
Gartmore Investment Limited	30,692,831	14.1%
BlackRock Investment Management Limited	11,376,000	5.2%
Advanced AIM Value Realistation Company Limited	10,212,500	4.7%

Most Recent Statement

26/05/10 - Director/PDMR Shareholding
29/03/10 - HOEC contract win
25/03/10 - Indian contract win
08/03/10 - Acquisition of remaining 50% of Zeus Petroleum Ltd
02/02/10 - Contract extension
01/02/10 - Santos Offshore Contract Extension

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