SIBIR ENERGY plc - Print Version

Recommended cash offer by Renaissance Securities (Cyprus) Limited ("Renaissance Securities") on behalf of JSC Gazprom Neft ("Gazprom Neft") to acquire shares in Sibir Energy plc ("Sibir")

On 27 May 2009, an offer document (the "Offer Document") and related form of acceptance ("Form of Acceptance") were published in relation to an offer by Renaissance Securities on behalf of Gazprom Neft to acquire the entire issued and to be issued share capital of Sibir (other than the Excluded Shares (as defined in the Notes below) at 500 pence each (the "Offer").

The Offer Document and Form of Acceptance (together the "Offer Documentation") may be accessed on the website of Renaissance Securities on the following URL: http://www.rencap.com/eng/Information_Disclosure.asp

The Offer Documentation will also be posted shortly to qualifying shareholders of Sibir and copies will be made available for collection from Capita Registrars at The Registry, 34 Beckenham Road, Beckenham, Kent, BR3 4TU and from Renaissance Securities (Cyprus) Limited at 2-4 Arch. Makarious III Ave, Nicosia, HM12, Cyprus.

Persons seeking to access the Offer Documentation on the website of Renaissance Securities will need to give certain confirmations, representations and acknowledgements to Gazprom Neft and Renaissance Securities (Cyprus) Limited, including the following:

- that they are a person resident within the United Kingdom; and

- that they are permitted by applicable law to proceed and view the website.

Important:

Please note that the Offer is not being made, directly or indirectly, in or into, or by the use of the mail or any means or instrumentality (including, without limitation, telephonically or electronically) of interstate or foreign commerce of, or any facilities of a national securities exchange of, any jurisdiction outside the United Kingdom and the Offer should not be accepted by any such use, means, instrumentality or facility or from any jurisdiction outside the United Kingdom. Doing so may render invalid any purported acceptance.

The Offer Documentation must not be mailed or otherwise forwarded, distributed or sent in, into or from (whether by use of the mail or any means or instrumentality (including, without limitation, telephonically or electronically) of interstate or foreign commerce of, or any facilities of a national securities exchange) of any jurisdiction outside of the United Kingdom.

This notification is made for information purposes only and does not constitute an offer or invitation to buy or sell, or solicitation of any offer for, securities and does not constitute investment advice. Any acceptance or other response to the Offer should be made on the basis of the information contained in the Offer Documentation and to that end qualifying shareholders of Sibir are strongly advised to read the Offer Documentation.

Notes:

"Excluded Shares" mean any Shares which are, or in the sole discretion of Gazprom Neft (acting reasonably) appear to be, legally and/or beneficially owned by or on behalf of the following, and their assignees and successors in title:

(a) Central Fuel Company;

(b) Bennfield Limited; or

and in addition any Shares in respect of which, in the sole discretion of Gazprom Neft (acting reasonably, save in respect of paragraph (i) below in respect of which Gazprom Neft's discretion shall be absolute):

(d) the person purporting to tender an acceptance of such Shares is or may be prohibited or not permitted to sell, as a result of a freezing order (or analogous order) issued by a court in the United Kingdom or elsewhere;

(e) the acquisition of such Shares would or may be prohibited, prevented or require a notification or clearance under the Proceeds of Crime Act 2002 or analogous legislation in any jurisdiction;

(f) the person purporting to tender an acceptance of such shares cannot demonstrate good title to such Shares, where "good title" means such Shares are sold free from all liens, charges, equitable interests, encumbrances, right of pre-emption and any other third party rights and interests of any nature whatsoever;

(g) it would otherwise be unlawful for the person purporting to tender an acceptance of such Shares to sell, or for Gazprom Neft to acquire, the Shares;

(h) such Shares which were offered for sale by a holder of Shares (a "Shareholder") (and accepted on behalf of Gazprom Neft) pursuant to Gazprom Neft's invitations to offer on 23 April 2009 and 22 May 2009; or

(i) are held by Shareholders to which the Offer will not be extended due to the location of the Shareholder in a jurisdiction other than the United Kingdom.