http://www.shebaexploration.com/?source=plusquoted

The company is registered in England and operates through its sole subsidiary, Sheba
Exploration Limited, in northern Ethiopia. At Una Deriam EEL a 10 kilometre long trend of
gold anomalies is under investigation, of which about 5km has been defined in relative
detail, including trenching and some drilling. At Shehagne EEL the company has
discovered and traced a 2.8 kilometre long gold soil anomaly and completed preliminary
trenching and drilling this licence is now under option to Stratex International Plc. At
Finarwa EPL a third gold project is underway, following positive results from early stage
geochemical exploration. At Winibo EPL a 4.5km copper zone has been traced in outcrop and further exploration is planed.

3 March 2011

SHEBA EXPLORATION (UK) PLC
("Sheba" or the "Company")

Directors' Shareholding Notification and Award of Performance Options

Sheba Exploration (UK) plc is pleased to announce that on 1 March 2011, a total of 2,185,792 ordinary
shares were issued to the Directors of the Company in lieu of salary for the period 1 March 2010 to 28
February 2011.

The following shares were issued:

- Henry Atkinson (Managing Director) - 1,584,699 shares
- Richard Brooker (Finance Director) - 382,514 shares
- Gavin Conway (Non-Executive Director) - 218,579 shares

The shares were issued at a price of 1.83p, equivalent to the weighted average share price for the
full financial year ending 28 February 2011. This represents a premium of 1.08p to their par value of
0.75p. There are no conditions or warrants attached to the share issue.

Henry Atkinson now holds 28,584,699 ordinary shares in the Company representing 26.95% of the
Company's issued share capital; Richard Brooker's beneficial interest, including the beneficial
holdings of his connected parties, is 5,489,180 ordinary shares representing 5.18% of the Company's
issued share capital; and Gavin Conway is now interested in 2,835,245 ordinary shares representing
2.67% of the Company's issued share capital.

The total number of shares in issue is 106,062,457 ordinary shares of which the Directors hold
36,909,124 ordinary shares, representing 34.80% of the Company's issued share capital.

The Company has also awarded the following performance related share options in accordance with the
Directors Share Option Scheme, approved by Shareholders on 24th August 2006:-

- Henry Atkinson (Managing Director) - Two million share options (2,000,000)
- Richard Brooker (Finance Director) - One million share options (1,000,000)
- Gavin Conway (Non-Executive Director) - One million share options (1,000,000)

The Share Options were granted at an exercise price of 3.00p per share.

The Options are exercisable in accordance with the terms of the Scheme Rules.

Following the award of these options there are a total of 7 million Directors' options outstanding,
equivalent to 5.85% of the fully diluted issued share capital of 119,645,790 shares.

The Directors of Sheba Exploration (UK) Plc are responsible for the contents of this announcement.

For further information please contact:

Company:
Sheba Exploration (UK) Plc
Richard Brooker
Tel: 00 353 87699 8401

Corporate Adviser:
St Helens Capital Partners LLP
Duncan Vasey/Mark Anwyl
Tel: +44 (0) 20 7368 6959

Farm Street Communications Limited
Contact: Simon Robinson
Tel: +44 (0) 7593 340107
Email: simon.robinson@farmstreetmedia.com

. 14 March 2011
GB00B02WHQ80/GBP/PLUS-exn

SHEBA EXPLORATION (UK) PLC
("Sheba" or the "Company")

Private Placing

Sheba, the Ethiopian focussed gold exploration company, is pleased to announce that on 11 March 2011
it undertook a private placing of 1,500,000 ordinary shares of 0.75 pence each at a price of 2 pence
per share raising 30,000. There are no warrants associated with the private placement.

The proceeds will be used by Sheba for administrative expenses and the ongoing development of their
exploration licences in Ethiopia.

Of the 1,500,000 ordinary shares issued, Douglas Chikohora, an existing shareholder purchased
1,250,000 ordinary shares. He now holds 3,750,000 ordinary shares equivalent to 3.49% of the issued
share capital.

Following the placing there are 107,562,457 ordinary shares in issue, of which, the Directors are
interested in 36,909,124 ordinary shares representing 34.31% of the Company's issued share capital.

The new ordinary shares rank pari passu with the existing ordinary shares.

The Directors of Sheba Exploration (UK) Plc are responsible for the contents of this announcement.

For further information please contact:

Company:
Sheba Exploration (UK) Plc
Richard Brooker
Tel: 00 353 87699 8401

Corporate Adviser:
St Helens Capital Partners LLP
Duncan Vasey/Mark Anwyl
Tel: +44 (0) 20 7368 6959

Farm Street Communications Limited
Contact: Simon Robinson
Tel: +44 (0) 7593 340107
Email: simon.robinson@farmstreetmedia.com

Sheba now at a all time high

31 May 2011
GB00B02WHQ80/GBP/PLUS-exn

SHEBA EXPLORATION (UK) PLC
("Sheba" or the "Company")

Private Placing

Sheba, the Ethiopian focussed gold exploration company, is pleased to announce that on 23 May 2011 it
undertook a private placing of 400,000 ordinary shares of 0.75 pence each at a price of 3 pence per
share raising 12,000. There are no warrants associated with the private placement.

The proceeds will be used by Sheba for administrative expenses and the ongoing development of their
exploration licences in Ethiopia.

Following the placing there are 107,962,457 ordinary shares in issue, of which, the Directors are
interested in 36,909,124 ordinary shares representing 34.19% of the Company's issued share capital.

The new ordinary shares rank pari passu with the existing ordinary shares.

The Directors of Sheba Exploration (UK) Plc are responsible for the contents of this announcement.

Sheba has reached agreement with Centamin on the terms of a recommended offer.

Centamin will purchase the entire issued and to be issued share capital of Sheba.

The Offer values Sheba at approximately 7.48m. (on a fully diluted basis), or 6.15p per Sheba Share, which represents a premium of approximately 124% to the closing price of Sheba Shares on 8 July 2011, being 2.75p.

As I said , i bought these as a pure punt and had been worried that i was very overweight with these , so news this news was very welcomed and CEY is also my top core holding.

The Offer
The Offer, which is subject to the further terms and conditions set out in the Offer Document and Form of Acceptance, is being made on
the basis of:
a cash payment of 3.0 pence per Sheba Share; and
the number of ordinary shares in the capital of Centamin equal to the number of Sheba Shares held by the Sheba shareholder
divided by 40.
Based on the closing price of Centamins ordinary shares on the London Stock Exchange on 8 July 2011, the Offer values Sheba at
approximately 7.48 million on a fully diluted basis, or 6.15 pence per Sheba Share, which represents a premium of approximately 124
per cent. to the closing price of the Sheba Shares on 8 July 2011, being 2.75 pence.

Sheba Exploration draws down Centamin Egypt loan
By BFN News | 02:18 PM | Friday 22 July, 2011


Sheba Exploration has drawn down the 100,000 loan facility from Centamin Egypt. Centamin Egypt has agreed a 7.48m deal to takeover Sheba. Story provided by StockMarketWire.com

http://moneyam.uk-wire.com/cgi-bin/articles/20110727145710M9710.html