UEN Urals EN.

RNS Number:0943K
Urals Energy Public Company Limited
17 December 2007

                      Urals Energy Public Company Limited



                       ('Urals Energy' or the 'Company')



                                 Results of EGM



Urals Energy Public Company Limited (LSE: UEN), a leading independent
exploration and production company with operations in Russia, reports the
results of the previously announced Extraordinary General Meeting of the Company
held today at its registered address in Cyprus.



At the Extraordinary General Meeting of the Company, the shareholders approved
(1) the increase of the authorised share capital of the Company from 250,000,000
ordinary shares of CY�0.0025 each to 300,000,000 ordinary shares of CY�0.0025
each by the creation of an additional 50,000,000 ordinary shares, all of which
will rank pari passu in all respects with the existing ordinary shares of the
capital of the Company; and (2) the disapplication of the pre-emption rights of
existing members of the Company in relation to the 50,000,000 ordinary shares in
the Company for a period of two months; and that those shares be available to be
allotted by the Board of Directors of the Company to Morgan Stanley Securities
Limited (or as it may direct) in connection with the previously announced share
placement by the Company.



The details of the proposals and the resolutions adopted are described in the
shareholders circular dated 30 November 2007 which was sent to the Company's
shareholders and which is available on the Company's website.





                                                                17 December 2007



Enquiries:


Pelham PR
Gavin Davis                              +44(0)20 7743 6677 / +44(0)7910 104 660
Evgeniy Chuikov                          +44(0)20 3008 5506 / +44(0)7894 608 606






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