29 | 06 | 2009

Holding in Company

The Company was notified on 24 June 2009 that following certain transactions on 22 June 2009 and 23 June 2009, Mak Holdings Limited became interested in 103,056,730 of the Company's ordinary 10p shares ("Ordinary Shares"), which constitute approximately 26.66 per cent. of the entire issued Ordinary Shares ("Issued Shares"). Mak Holdings Limited indirectly controls Orton Oil Company Limited, which is currently the registered holder of 50 per cent. of the issued share capital of Bennfield Limited. Bennfield Limited is the beneficial owner of approximately 25.66 per cent. of the Issued Shares. Following an acquisition on 23 June 2009, Mak Holdings Limited is also the holder of, and is entitled to exercise voting rights in respect of, a further 3,865,646 Ordinary Shares, which constitute approximately 1 per cent. of the Issued Shares.

Contacts:

Stuard Detmer, CEO, Sibir Energy

Moscow +7 (495) 790 78 30

Igor M. Tsibelman, First Deputy CEO, Sibir Energy

Moscow: +7 (495) 790 78 40

Rory Murphy, Strand Partners Limited

London +44 (0) 20 7409 3494

Barry Weir, Neil Haycock, J.P. Morgan Cazenove

London+44 (0) 20 7588 2828

Nick Miles, M: Communications

London +44 (0) 20 7153 1530