Re Press Speculation

21 Jan 2009 15:29

21 January 2009

Urals Energy Public Company Limited 

('Urals Energy' or the 'Company') 

Re Press Speculation

Urals Energy notes the recent press speculation regarding a possible revocation of its Dulisma licence. 

During a recent routine inspection Rosprirodnadzor, Russia's environmental watchdog, has noted some minor licence infringements resulting in approx US$1000 fine and recommendations to address these issues. The Company is already in the process of instigating the necessary changes.

The Directors do not believe this matter will have a material effect on its Dulisma licence and the Company's ongoing restructuring intentions.

Enquiries: