Sapuracrest Petroleum Berhad ("Sapuracrest" Or The "company") Proposed Acquisition of 80 Ordinary Shares ("TMT Shares") In Total Marine Technology PTY LTD ("TMT"), Representing 80% Equity Interest In TMT, From Nordic Nominees Pty Ltd (As Trustee For The Wardle Family Trust), John Thomas Pado ("Tom Pado") And Paul Standon Colley And Geraldine Colley (As Trustees For The Calabash Family Trust) ("Paul and Geraldine Colley") (Collectively The "Vendors") For A Cash Consideration Of Aud9,600,000 And Settlement Of Shareholder's Loan On Behalf Of TMT Of Aud1,429,813 ("Shareholder's Loan") ("proposed TMT Acquisition")

We refer to the announcements dated 26 January 2005 and 27 January 2005 in relation to the Proposed TMT Acquisition.

Commerce International Merchant Bankers Berhad ("CIMB") is pleased to announce, on behalf of SapuraCrest, that the Securities Commission had, via their letter dated 28 March 2005, granted approval for the Proposed TMT Acquisition, subject to the condition that CIMB/SapuraCrest should comply with the relevant requirements as stipulated in the Policies and Guidelines on Issue/Offer of Securities in relation to the Proposed TMT Acquisition.

On behalf of SapuraCrest, CIMB also wishes to announce that further to the Sale & Purchase Agreement in relation to the Proposed TMT Acquisition dated 26 January 2005 between SapuraCrest and the Vendors ("SPA"), it has been mutually agreed in writing between the parties that the completion of the SPA, on the date of which, among others, all conditions precedent must be fulfilled or waived, as the case may be, be revised from 31 March 2005 to 15 April 2005.