To Decomission Idle Wells

RNS Number:4200J
Urals Energy Public Company Limited
07 December 2007



                      Urals Energy Public Company Limited
                       ('Urals Energy' or the 'Company')


                    Urals Energy to decommission idle wells


Urals Energy Public Company Limited (LSE: UEN), a leading independent
exploration and production company with operations in Russia, confirms that
Kominedra, the subsurface resource agency in Komi Republic, has ordered the
Company's subsidiary Verkhneomrinskaya Neft to start decommissioning inactive
wells within the Verkhneomrinskoye oil license (the License).   The License was
part of the Arcticneft acquisition package in 2006 and was a peripheral part of
the overall acquisition.  No oil production activity has been undertaken since
the acquisition.  As such, Kominedra included a statement in its order to
suspend temporarily production and exploration activities for three months.


The Company through its subsidiary plans to maintain the lease for potential use
as Urals contemplates divestures. The decommissioning of these wells will not
affect overall operations or financial performance.

7 December 2007


Pelham PR

Gavin Davis                              +44(0)20 7743 6677 / +44(0)7910 104 660

Evgeniy Chuikov                          +44(0)20 3008 5506 / +44(0)7894 608 606



                      This information is provided by RNS
            The company news service from the London Stock Exchange
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