Urals Energy Plc Regulatory News (UEN)

10 November 2016

Urals Energy Public Company Limited

("Urals Energy" or the "Company")

Result of Annual General Meeting

Urals Energy (AIM:UEN), the independent exploration and production company with operations in Russia, is pleased to announce that at the Company's Annual General Meeting held today all resolutions proposed were duly passed.

Following today's approval by shareholders, the Board will now seek to implement the Company's Performance Share Plan (as described in the Company's announcement of 11 October 2016). Further announcements in this regard will be made as appropriate.

At the Annual General Meeting Andrew Shrager, Urals Energy's Chairman, made the following statement:

"We remain confident in our chosen strategy, as laid out in the report and accounts for the year ended 31 December 2015. Over the course of 2015 and 2016 we have developed a significant portfolio of additional proven and probable reserves and will continue to pursue new development plans and seek operational efficiencies wherever possible. We remain cautious in the current environment, and whilst oil prices and exchange rates may present medium-term challenges, we believe that we have gained a strengthened position for when conditions in the oil markets improve. We are confident that through our strategy we can build significant longer-term value for all of our stakeholders and look forward to updating the market as we progress our strategy."

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