PetroKamchatka Plc (TSXV: PKP) Voting Results of Annual General Meeting and
Issuance of Common Shares to Directors for Services Rendered

ST. HELIER, Jersey, Nov. 2 /CNW/ - PetroKamchatka Plc ("PetroKamchatka" or the "Corporation") a Jersey company, held its Annual General Meeting on October 22, 2010 in Jersey, Channel Islands. The percentage of shareholder votes cast at the meeting and by proxy is as follows:

    
    Fix Number of Directors at Six FOR 100%
    Election of Directors FOR 99.87%
    Appointment of Auditors FOR 99.99%
    Stock Option Plan FOR 99.66%
    

The Corporation also announces that, pursuant to TSX Venture Exchange (TSX-V) policy, the number of shares to be issued to four directors for partial remuneration owed to these persons from July 1, 2010 to September 30, 2010 will be reduced to 656,497 from 1,094,162, as previously announced in a press release dated October 6, 2010. The TSX-V policy requires that these shares be issued at a minimum issuance price of $0.05 per share.

About PetroKamchatka

PetroKamchatka is an international junior oil exploration company incorporated in the Bailiwick of Jersey with core properties located in the Kamchatka Peninsula of the Russian Federation. For further information, please visit the PetroKamchatka Plc website at www.petrokamchatka.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information: PetroKamchatka Plc, Graeme Phipps, President and Chief Executive Officer, 9 Esplanade, St. Helier, Jersey, Tel: [phone] or [phone], Email: [email protected]; PetroKamchatka Services Inc., Calvin Brackman, Vice President, Corporate Planning c/o 1000, 505 - 3rd Street S.W., Calgary, Alberta, Canada, T2P 3E6, Tel: [phone], Cell: [phone], Email: [email protected]