FRANKFURT, July 13, 2010 /PRNewswire/ -- Dr Luh, an attorney representing 2 senior executives of AMICUS Finanzkonzepte GmbH, a German financial services firm, which represents more than 100 shareholders in the oil and investment firm Petrocapital Resources PLC, filed a formal complaint against Petrocapital's board and its former chairman Manoli Olympitis with the UK's F.S.A. on July 5th.

'This is the second complaint, as far as we are aware, that has now been filed against the former and current board of Petrocapital on behalf of very angry shareholders', comments Dr Luh, attorney in Frankfurt, Germany.

As already reported by the UK newspaper The Guardian, Olympitis was the director of UK insurance firm Aitken Hume in the 1980s, and he advised Eagle Star, a company investigated by the Serious Fraud Office (SFO) in the UK over the disappearance of GBP13.7 Million of shareholder funds.

'We truly hope the regulators will now start acting and protecting the shareholders', stated Dr Luh.

The complaint against the Takeover and Merger's Panel in September of 2009 - which was dismissed as unfounded by the Panel recently - allowed Manoli Olympitis to gain control of the company from its founder and run a public company, to which he was initially appointed only as a part-time director, like a private project without any regard of shareholder interests.

Dr Luh further stated: It is unbelievable that the board has refused to communicate with shareholders in over 9 months. Instead of investing the millions of Euros which have been raised by European investors, this money is either still uninvested over 12 months later at no benefit to shareholders or has been spent on huge amounts of legal fees on questionable actions. The burn rate has tripled, there are no revenues and the announced sale of the only small investment in Central Montana Resources has still not materialized, contrary to the Board's various announcements.

Contact: Dr. Norbert Luh, Attorney Tel. +49(0)69-1708870 Email: info@ranot-luh.de

SOURCE: The office of Dr. Norbert Luh, Attorney

CONTACT: Contact: Dr. Norbert Luh, Attorney, Tel. +49(0)69-1708870, Email:info@ranot-luh.de