PAN Pan European Terminals

RNS Number:6020E
Baltic Oil Terminals Plc
15 June 2006

15 June 2006


                      Baltic Oil Terminals PLC ("Baltic")

                                Award of License

Baltic Oil Terminals PLC, which was established to invest in oil related
infrastructure projects and upstream activities in Russia and the FSU is pleased
to announce that OOO Zauralneftegaz (in which Baltic owns a 50% interest) has
been awarded  the Lebyazhevsky exploration and production block for a 25 year
term, in the Kurgan region of Western Siberia.

The new block is located equidistant to two existing Zauralneftegaz blocks in
the south western part of the region and has a surface area of approximately
42,000 acres.  The addition of this block takes the number of licenses to seven
with a total acreage of just over 1 million acres. The block has a preliminary
work programme involving the analysis of existing legacy well and seismic data.

Simon Escott, CEO of Baltic Oil Terminals said:

"I am pleased we have delivered this license ahead of schedule and so soon after
we listed on AIM.

"I can also report that good progress is being made at the oil transhipment
terminal at Kaliningrad. Construction will start in mid July and the project is
on schedule to tranship its first oil in January 2007."


                                    - Ends -



Enquiries

Baltic Oil Terminals PLC                             020 7667 6371
Simon Escott, Chief Executive
Robert Wilde, Finance Director

Arden Partners Limited                               020 7398 1636
Chris Fielding

Financial Dynamics                                   020 7831 3113
Billy Clegg/Edward Westropp



                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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