29 | 06 | 2009

Result of Annual General Meeting

Sibir announces that at its Annual General Meeting ("Meeting") held earlier today Resolution 1, as set out in the notice of the Meeting dated 5 June 2009 ("Notice), was duly approved by shareholders. Resolutions 2 and 3 (as set out in the Notice), which related to the directors' authority to allot shares and the disapplication of statutory pre-emption rights respectively, were withdrawn with the consent of the Meeting. 

Messrs Tsibelman and Yakovlev were appointed to the board of Sibir ("Board") on 17 June 2009, after the Notice was posted to shareholders. As such they were not able to be proposed for re-election at the Meeting as is required under the Company's Articles of Association. As result both of them were re-appointed to the Board following the Meeting. 

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