2009-08-19-2007-10-01

To buy co., gaining assets in Khanty Mansiysk area of West Siberia, Salym group of fields, operated 50:50 JV, and Yuzhnoye and Orekhovskoye fields.

Sibir Energy Plc, London, (London AIM: SBE) plans to acquire the shares of Moscow Oil and Gas Co. held by Central Fuel Co., Moscow, for US$200 million in cash and US$721.5 million in stock in a total deal valued at approximately US$922 million. Central Fuel will acquire 69.7 million Sibir shares at US$10.35 each. Central Fuel is owned by the city of Moscow and the transaction will combine Moscow's and Sibir's refining and petrol retail holdings in Moscow Oil with Sibir's upstream oil business. The city of Moscow will have an 18.03% stake in Sibir. Sibir's assets are concentrated in the Khanty Mansiysk autonomous area of West Siberia and consists of two key assets: the Salym group of fields, operated by a 50:50 joint venture with Royal Dutch Shell, The Hague, The Netherlands, (NYSE: RDS-A) and the Yuzhnoye and Orekhovskoye fields, operated by Sibir subsidiary Magma. Production in Orekhovskoye Field is 7,500 barrels of oil per day, and peak production in Salym and Yuzhnoye will have peak production of 185,000 barrels per day by 2011. Recoverable reserves are 550 million barrels. Jones Day is financial advisor for Sibir and White & Case is financial advisor for Central Fuel.