TIDMUEN

RNS Number : 9249X

Urals Energy Public Company Limited

14 December 2010

14 December 2010

Urals Energy Public Company Limited

("Urals Energy" or the "Company")

Clarification re Sberbank Reports

The Board of Urals Energy (UEN.LN) notes this morning's media reports in relation to Sberbank's intentions to, inter alia, dispose of its interest in Urals Energy.

The Directors can confirm that this relates only to the interest that Sberbank holds in the Dulisma and Taas-Yuriakh assets, which were previously held by Urals Energy.

These assets were transferred to Sberbank in August 2009 as full settlement for the loans made to Urals Energy by Sberbank. The Directors of Urals Energy believe that Sberbank is not an existing shareholder in Urals Energy.

The Board see this as a positive for the Company, as this may lead to the early repayment of the shareholders loan of US$37.5m owed to Urals Energy by Taas-Yuriakh.

Enquiries:

 
 Urals Energy Public Company 
  Limited                       +7 495 795 03 00 
-----------------------------  -------------------- 
 Alexei Maximov 
 Grigory Kazakov 
-----------------------------  -------------------- 
 Allenby Capital Limited        +44 (0)20 3328 5656 
-----------------------------  -------------------- 
 Nick Naylor 
  Alex Price 
-----------------------------  -------------------- 
 
 Pelham Bell Pottinger          +44 (0)20 7861 3232 
-----------------------------  -------------------- 
 Mark Antelme 
 Jenny Renton 
-----------------------------  --------------------

ENDS

This information is provided by RNS

The company news service from the London Stock Exchange

END

STREAFALFSDEFFF

Urals Energy (LSE:UEN)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Urals Energy Charts.
Urals Energy (LSE:UEN)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Urals Energy Charts.