Comments on Press Reports

21 Sep 2006 15:16

Sibir Energy PLC21 September 2006 21 September 2006 Sibir Energy plc ("Sibir") Comments on Talks between Gazprom Neft and Moscow Oil and Gas Company ("MOGC") Sibir wishes to comment on yesterday's press release by Gazprom Neft and MOGCwhich reported that a working meeting on issues of mutual interest took placebetween the two companies' presidents, Messrs Alexander Ryazanov and ChalvaTchigirinski. Sibir welcomes this announcement and is greatly encouraged thatthe earlier and initial discussions between the presidents have matured intonegotiations to find solutions which will stabilise relations between MOGC andGazprom Neft to the benefit of all parties involved. Sibir further wishes to comment on certain other press articles which reportedthat Sibir intended to contribute part of its stake in the Salym Fields toincrease its participation in MOGC. These reports are incorrect. Sibir hasalready stated publicly that it wishes to increase its stake in MOGC, howeverthe nature of the consideration for this increased stake is still underdiscussion and the company's interest in Salym will not be part of the deal. Enquiries to: Henry Cameron, CEOMoscow +7 495 792 3045 Stuard Detmer, Member of the BoardMoscow +7 495 792 3045 Stuart Leasor, M: CommunicationsLondon +44 (0) 207 153 1527 This information is provided by RNS The company news service from the London Stock Exchange