TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESⁱ

1. Identity of the issuer or the underlying issuer
of existing shares to which voting rights are
attached: ⁱⁱ

Sibir Energy plc

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

NO

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

NO

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

NO

An event changing the breakdown of voting rights

NO

Other (please specify):

Correction of figures previously notified

YES

3. Full name of person(s) subject to the
notification obligation: ⁱⁱⁱ

Open Joint Stock Company "Gazprom"

Open Joint Stock Company "Gazprom Neft"

Limited Liability Company GazpromNeftFinance

Limited Liability Company GazpromNeft-ZS

Mak Holdings Limited

4. Full name of shareholder(s)
 (if different from 3.):^iv

Direct shareholders: Euroclear Nominees Limited (33.72%), Mak Holdings Limited (1%), Limited Liability Company GazpromNeftFinance (25.66%), Limited Liability Company GazpromNeft-ZS (14.67%)

Indirect shareholders: Open Joint Stock Company "Gazprom" (75.05%), Open Joint Stock Company "Gazprom Neft" (75.05%), MAK Holdings Limited (25.66%)

5. Date of the transaction and date on
which the threshold is crossed or
reached: ^v

21 July 2009

6. Date on which issuer notified:

13 August 2009

7. Threshold(s) that is/are crossed or
reached: ^{vi, vii}

75%

8. Notified details:

A: Voting rights attached to shares ^{viii, ix}

Class/type of
shares

if possible using
the ISIN CODE

Situation previous
to the triggering
transaction

Resulting situation after the triggering transaction

Number
of
Shares

Number
of
Voting
Rights

Number
of shares

Number of voting
rights

% of 

voting rights ^x

Direct

Direct ^xi

Indirect ^xii

Direct

Indirect

Ordinary

ISIN: GB00B04M0Q71

180,336,643

287,614,037

159,774,732

159,774,732

130,331,276

41.33%

33.72%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial
instrument

Expiration
date ^xiii

Exercise/
Conversion Period ^xiv

Number of voting
rights that may be
acquired if the
instrument is
exercised/ converted.

% of

Voting rights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments ^{xv, xvi}

Resulting situation after the triggering transaction

Type of financial
instrument

Exercise price

Expiration date ^xvii

Exercise/
Conversion period ^xviii

Number of voting rights instrument refers to

% of voting rights ^{xix, xx}

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

290,106,008

75.05%

9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable: ^xxi

a) OJSC "Gazprom" owns 56% of OJSC "Gazprom Neft" directly

b) OJSC "Gazprom" holds a further 20% of OJSC "Gazprom Neft" through Deutsche Bank as nominee holder

c) Gazprom Finance B.V., which is a 100% subsidiary of OJSC "Gazprom", owns 17% of OJSC "Gazprom Neft"

d) OJSC "Gazprom Neft" controls Mak Holdings Limited

e) LLC GazpromNeftFinance is a wholly owned subsidiary of OJSC "Gazprom Neft"

f) LLC GazpromNeft-ZS is a wholly owned subsidiary of OJSC "Gazprom Neft"

Proxy Voting:

10. Name of the proxy holder:

11. Number of voting rights proxy holder will cease
to hold:

12. Date on which proxy holder will cease to hold
voting rights:

13. Additional information:

1.     Open Joint Stock Company “Gazprom Neft” (“Gazprom Neft”), following certain corrections to the earlier disclosed information, is indirectly interested in 130,331,276 of the ordinary 10p shares in the Company ("Ordinary Shares"), which are registered in the name of Euroclear Nominees Limited, constituting approximately 33.72 per cent. of the entire issued Ordinary Shares ("Issued Shares") and is entitled to direct the exercise of the voting rights attaching to such shares.

2.     Further to the announcement made on 29 June 2009, Mak Holdings Limited (a company controlled by Gazprom Neft), following an acquisition completed on 21 July 2009, directly 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 99,191,084 of the Ordinary Shares, constituting approximately 25.66 per cent. of the Issued Shares.

3.     Gazprom Neft, together with its subsidiaries and fully controlled entities, is, for the avoidance of doubt, the beneficial owner of approximately 49.39 per cent. of the Issued Shares.

14. Contact name:

Anna Sidorkina, Gazprom Neft

15. Contact telephone number:

+7(903) 146 0425